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Law, Relationship, and Private Enforcement: Transactional Strategies of Russian Enterprise

Author

Listed:
  • Kathryn Hendley
  • Peter Murrell
  • Randi Ryterman

Abstract

We examine how Russian enterprises do business with one another, focusing on the strategies used to obtain efficiency and predictability in their transactions. Using survey data, the paper analyzes the relative importance of relational contracting, self-enforcement, enterprise networks, private security firms, administrative institutions, and courts. Enterprise-to-enterprise negotiations are preferred, but courts are used when disputes resist resolution through negotiation. Consistently, little evidence suggests enterprises resort to private enforcement, indicating overstatement in the supposed connection between weakness in law and the mafia's rise. Legacies of the old administrative enforcement mechanisms are few, although enterprise networks from Soviet days remain resilient.

Suggested Citation

  • Kathryn Hendley & Peter Murrell & Randi Ryterman, 1998. "Law, Relationship, and Private Enforcement: Transactional Strategies of Russian Enterprise," William Davidson Institute Working Papers Series 72, William Davidson Institute at the University of Michigan.
    • Handle: RePEc:wdi:papers:1998-72
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    JEL classification:

    • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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