Russia : Thoughts on the Privatization Debates a Decade Later

Ellerman, David

World Bank, Washington, DC

关键词: ACCOUNTABILITY;    AGENCY RELATIONSHIP;    AGENCY RELATIONSHIPS;    AGRICULTURE;    ASSET STRIPPING;   

RP-ID  :  82091

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

A decade has passed since theprivatization debates concerning Russia and the othertransition economies. This note reviews literature on twoissues: the overall institutional change strategy, and thealternatives to and arguments against voucher privatization.The alternative is a strategy of incremental institutionalchange. Instead of an imagined great leap forward over thechasm between socialism and capitalism, incentives aredevised to move people incrementally, but irreversibly, fromthe existing quasi-reformed institutions towards the idealinstitutions. Instead of just negating the de facto propertyrights of managers and workers, they can arrive at a nearbyset of legitimized de jure property rights by moving in theright direction. The market bolsheviks designed the marketreforms based on voucher privatization with the exactopposite purpose to deny the de facto property rightsaccumulated during the communist past, to righteously wipethe slate clean, and to start afresh with formal property rights.