Abstract
The break-up of the former Soviet Union (FSU) brought a sea of change in economic organization. Central planning and command structures that had been in place for over seventy years collapsed. In some parts of the former empire, a quasi-centralized control of resource allocation remained the norm, albeit on a much smaller scale and with different goals to serve than the previous socialist state. In many other parts, including Russia, the break-up of the central command structures was seen as the seed for creating a market economy.
The opinions expressed in this paper are the author’s own and do not necessarily reflect those of the OECD. This paper has extensively used S. Nestor, Takahiro Yasui, and M-L. Guy, “The Relevance of Corporate Governance to Eurasian Transition Economies,” presented at the first Eurasian Corporate Governance Roundtable (October 2000). The term former Soviet Union (FSU) includes all the republics of the former U.S.S.R., except for the three Baltic states whose history and politics warrant separate treatment.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Bibliography
Baker and McKenzie (1999), “Doing Business in Kyrgyzstan” (mimeo).
Black, Bernard, Reinier Kraakman, and Anna Tarassova (2000), “Russian Privatization and Corporate Governance: What Went Wrong?” paper available at http://papers.ssrn.com.
Boycko, Maxim, Andrei Schleifer, and Robert Vishny (1995), Privatizing Russia (Boston: MIT Press).
Broadman, Harry (2000), “Reducing Structural Dominance and Entry Barriers in Russian Industry,” World Bank (mimeo).
Brown, Scott (2000), “Tender procedure for the purchase of blocks of shares of stock in open joint stock companies,” in Russia/Central Europe Executive Guide, August 15, 2000.
Cadogan Financial (1999), “Kazakhstan Country Survey,” London.
De Soto, Hernando (2000), The Mystery of Capital (Bantam Press).
Djankov, Simeon, and Peter Murrell (2000), “The Determinants of Enterprise Restructuring in Transition: an Assessment of the Evidence,” World Bank.
European Bank for Reconstruction and Development (EBRD) (2000), 1999 Transition Report, London.
Fox, Merritt, and Joseph Heller (1999), “Lessons from Fiascos in Russian Corporate Governance,” paper available at http://papers.ssrn.com.
Freeland, Chrystia (2000), Sale of the Century: Russia’s Wild Ride from Communism to Capitalism (New York: Crown Publishers).
Hansmann, Harry, and Reinier Kraakman (2000), “The Essential Role of Organisational Law,” paper available at http://papers.ssrn.com.
Lieberman, Ira, Stilpon Nestor, and Raj Desai (1997), Between State and Market: Mass Privatization in Transition Economies, World Bank.
McKinsey Global Institute (1999), “Unlocking Economic Growth in Russia,” Moscow.
McKinsey Investor Opinion Survey (2000), available at www.mckinsey.com.
Monks, Robert A.G. (2001), “The New Global Investors: How Shareowners Can Unlock Sustainable Prosperity World Wide” (forthcoming).
Nellis, John (1999), “Time to Rethink Privatization in Transition Economies?” in Finance and Development (June 1999).
Nestor, Stilpon, and Scott Thomas (1995), “Systemic Privatization in East-Central Europe,” in East-Central European Economies in Transition, ed. by John Hard and Richard Caufman (New York: M.E. Sharp).
Nestor, Stilpon (1996), “Insolvency Procedures in Transition Economies,” in Emerging Financial Markets and the Role of International Financial Institutions, ed. by Joseph Norton and Mats Andenas (London: Kulwer).
Nestor, Stilpon (2000), “Legal and Institutional Reform in European Transition Economies,” in Turkey and Central and Eastern Europe in Transition, ed. by Togan Subidey and V.N. Balasubramanyan (London: Macmillan).
Organization for Economic Cooperation and Development (OECD), the World Bank, the International Monetary Fund, the European Bank for Reconstruction and Development (1991), A Study of the Soviet Economy.
Organization for Economic Cooperation and Development (2000), Economic Survey of the Russian Federation, Paris.
Organization for Economic Cooperation and Development (2001), “Company Law Reform in OECD member-countries” (forthcoming).
Pistor, Katharina, and Andrew Spicer (1997), “Investment Funds in Mass Privatization and Beyond,” in Between State and Market: Mass Privatization in Transition Economies, ed. by Ira Lieberman, Stilpon Nestor, and Raj Desai, World Bank.
Pistor, Katharina, Martin Reiser, and Stanislaw Gelfer (2000), “Law and Finance in Transition Economies,” in Economies in Transition, Vol. 8 (2).
Radigyn, Alexander (2000), “Ownership and Control of the Russian Industry,” paper presented at 2000 OECD Roundtable on Corporate Governance, available at www.oecd.org/daf/corporate-affairs.
Reynolds, Sarah (1999), “Introduction,” in Review of Central and Eastern European Law, Vol. 25, 1–2.
Ryvkina, Rozalina (1998), “What Kind of Capitalism is Being Created in Russia,” in Russian Policy and Law, May/June 1998.
Shkurupiy, Konstantyn (2000), “Corporate Ownership and Control Structure in the Ukraine,” paper presented at the first Eurasian Corporate Governance Roundtable, available at www.oecd.org/daf/corporate-affairs.
Stiglitz, Joseph (1999), “Quis Custodiet Ipsos Custodes?: Corporate Governance Failures in the Transition,” paper presented at the Annual Bank Conference on Development Economics.
Williamson, Oliver (1985), The Economic Institutions of Capitalism (New York: Free Press).
World Bank (2000), “Uzbekistan and Kazakhstan: a Tale of Two Transition Paths,” World Bank Policy Research Working Paper, No. 2472.
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2002 Springer-Verlag Berlin Heidelberg
About this paper
Cite this paper
Nestor, S. (2002). Corporate Reform in Russia and the Former Soviet Union: The First Ten Years. In: Tumpel-Gugerell, G., Wolfe, L., Mooslechner, P. (eds) Completing Transition: The Main Challenges. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-04866-5_12
Download citation
DOI: https://doi.org/10.1007/978-3-662-04866-5_12
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-642-07676-3
Online ISBN: 978-3-662-04866-5
eBook Packages: Springer Book Archive