Russian Privatization In Transition Economies

How to regard Russian privatization correctly? Around this problem, there always exist heated arguments. This thesis is a systematical research on the issue. It comprises six chapters, here is the main content:Chapter 1 briefs Russian privatization. In this chapter, we review the historical evolution of Russian economic system before the privatization is put into practice, then we analyse the causes of appearance of privatization policy, and describe briefly measures and means used in the course of the privatization and its development. In our opinion, the most important cause of Russia's choosing rapid and large scales of privatization is related to political benefits of democratic parties. But pushing the rapid privatization for political aims buries some hidden troubles for later contradictions.Chapter 2 analyses the change of ownership relation in Russia, and discusses the Russian capitalistic mode from the viewpoint of comparative analysis. Because large scales of transformation of property rights bring basic change of ownership relation, Russia establishes mixed ownership structure in which private ownership is the basis in a short time. From the point of ownership, Russia has finished its large scales of privatization and established economic base of capitalism according to the ownership structure, but from the point of property rights, it's still difficult to put Russia into English-American mode or European continent mode.Chapter 3 studies the performance of privatised enterprises objectively, analyses the causes of the enterprises of different ownership with different performance and privatised enterprises not improving their performance evidently, then, it summarizes the relations between private property rights and efficiency in transmitting economy. Our conclusion is, to improve enterprises' performance in the period of transformation, it's very important to have a healthy and stable macro-economic circumstance. As a matter of fact, it denies the rationality of large scales of privatization from one aspect.Chapter 4 probes into the causes of Russian macro-economic imbalance since transformation from the viewpoint of privatization, exposes the mechanism of micro-reform acting on macro-economic operation. In fact, the reform mode of large scales of privatization contains violent destructiveness itself, moreover, it conflicts with heritage of planned system and other reform measures. These factors interweave and interact on each other, so they bring about negative macro-economic results certainly. Analysis of this chapter indicates clearly that, the privatization is not useful to resolve macro-economic problems in the period of transformation, and it can only intensify the turbulence of macro-economy.On the basis of previous analysis, chapter 5 evaluates synthetically the effect of Russian privatization, analyses and sums up some problems emerged in the course of the privatization. We mainly take economic performance as the measuring criterion, give the micro-performance and macro-stability most consideration, and take the ownership change only as a middle objective or means. In this way. we suggest that Russian privatization is not successful. The cause is complicated, but deviation of guiding ideology is the basic one.Chapter 6 summarizes the Chinese micro-reform, on this basis we compare the micro-reforms between China and Russia, then we put forward our own perspectives about how to do better on property reforms according to the experience of Russian privatization.