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The failure of introducing market institutions in a rent sector into an economy in transition

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  • Catherine Locatelli

    () (LEPII-EDDEN - équipe EDDEN - LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

  • Dominique Finon

    (LEPII - Laboratoire d'Economie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

Abstract

Privatisation is at the heart of the structural reforms for economies in transition. In theory, the main aim of privatisation is to change the structures of corporate governance in order to improve the efficiency of the enterprises and to assure their long-term future in a competitive environment. The adoption of formal market institutions would be sufficient to secure the new property rights, in particular because the new holders of the rights to control assets would have a great incentive to encourage the definition of new judicial rules that would guarantee their rights of ownership. In Russia that didn't happen.

Suggested Citation

  • Catherine Locatelli & Dominique Finon, 2004. "The failure of introducing market institutions in a rent sector into an economy in transition," Post-Print halshs-00001302, HAL.
  • Handle: RePEc:hal:journl:halshs-00001302
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00001302
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    References listed on IDEAS

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    1. Simeon Djankov & Peter Murrell, 2002. "Enterprise Restructuring in Transition: A Quantitative Survey," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 739-792, September.
    2. Sophie Brana & Mathilde Maurel, 2001. "Démonétisation en Russie. Un arbitrage favorable au maintien de l'emploi," Revue Économique, Programme National Persée, vol. 52(4), pages 841-859.
    3. Gérard Roland, 2004. "Transition and Economics: Politics, Markets, and Firms," MIT Press Books, The MIT Press, edition 1, volume 1, number 026268148x, January.
    4. Spiller, Pablo T, 1996. "Institutions and Commitment," Industrial and Corporate Change, Oxford University Press, vol. 5(2), pages 421-452.
    5. I Grosfeld & P Hare, 1991. "Privatization in Hungary," CEP Discussion Papers dp0031, Centre for Economic Performance, LSE.
    6. Jeffry M. Netter & William L. Megginson, 2001. "From State to Market: A Survey of Empirical Studies on Privatization," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 321-389, June.
    7. Lambert-Mogiliansky, Ariane & Sonin, Konstantin & Zhuravskaya, Ekaterina, 2000. "Capture of Bankruptcy: Theory and Evidence from Russia," CEPR Discussion Papers 2488, C.E.P.R. Discussion Papers.
    8. Nee, Victor, 1998. "Norms and Networks in Economic and Organizational Performance," American Economic Review, American Economic Association, vol. 88(2), pages 85-89, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    privatisation; changement institutionnel; droits de propriété; industrie pétrolière; industrie gazière;

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