Privatization in the Soviet Union : the beginnings of a transition
This paper was completed before the events of August 1991. But the analysis of recent modes of privatization in the Soviet Union is still important for understanding the evolving situation. The"present"All-Union regime, was the first regime to implement wide-scale privatization. The process may take different courses, being initiated from"above"(for example, by ministries), orfrom"below,"by enterprises. Recent measures of the All-Union authorities, the author contends, had the effect of restricting any real role in privatization to the social and economic elite because, in early 1991, monetary and price reform wiped out a significant part of household savings. Leading international corporations are still interested in getting a stake in top Soviet performers; in those few cases it will be possible to negotiate terms more advantageous than those dictated by the dwindling value of the ruble. The All-Union government has been anxious to prevent"wild"foreign participation at any cost. That cost may prove excessive, however, as confidence in the ruble and in the Soviet economy weakens. In the meantime, the economic initiative has passed from the center to the republics. Some republics have already moved from legislation to implementation of their own divestiture policies. This trend appears likely to continue, but one cannot exclude other scenarios. However, it is unlikely that the processes of privatization identified in the study will be stopped.
|Date of creation:||30 Nov 1991|
|Contact details of provider:|| Postal: 1818 H Street, N.W., Washington, DC 20433|
Phone: (202) 477-1234
Web page: http://www.worldbank.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:805. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Roula I. Yazigi)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.