Research On The Ownership Reform Of The Former State-owned Enterprises In A Transition Economy

After World War II, the Soviet Union, the United States the bipolarstructure continued for nearly fifty years, but finally ceased to exist at thebeginning of1990sbecause of the collapse of the Soviet Union.First，this papermade a brief background introduction for Russiapolitical and economic system aimed at showing the early stage transitionof the Soviet union.Analyze the reasons why the Soviet Union collapsed and the privatizationof Russia, the paper concluded Russia’s privatization is made aco-determined by the foreign environment change and the domestic factors.Domestically, the comparative advantages of planned economy system disabled; Domestic political and economic structural rigidity and whilesuccessive governments wanted to improve, but not completely; The Sovietunion’s political system cannot adapt to the rapid development of economy.Internationally, mainly because of the development of science andtechnology, economic and trade globalization, financial globalization, theoptimal allocation of means of production and financial capital amongtheglobal scale, made the international division of labor gradually formed, theSoviet Union’s foreign policy and domestic product structure couldn’t adaptto the change,and were out of line with the rest of the world gradually. Andthe reform measures which made by Mikhail Gorbachev has acceleratedthe collapse of the Soviet Union and pushed Russia’s transition,privatization. Gorbachev’s reform thought was mainly from the both macroand micro to reform. Micro aspects, through giving the enterprises somecertain autonomy, strengthen enterprises’ innovation ability andcompetition ability, made the reform from the bottom up through the socialmost basic cell. However, mandatory planned economic system, the rigidly corrupt enterprise survival environment did not change.What’s worse, itdamaged the original enterprise survival environment, not found a goodway to repair, it also caused the deterioration of the domestic economyform. And from macro aspects, the reform mainly wanted to cancelmandatory planned economic system from the fundamental economicsystem, make to centralized distribution to retail supplies wholesale change,eventually forming the complete price mechanism.During the process of transition, Russia’s political and economicenvironment took place dramatic changes. Financial industrial groups, thisunique form of business organization gradually formed in Russia. Inheritedthe most blood of the Soviet Union, existed Russia’s financial industrialgroup growing soil, long time centralized system, black box operationin thetransition process and wealth redistribution made the financial industry inRussia quickly become affect Russia’s domestic economic and politicalpower that couldn’t be reckoned with. This special group gradually hadhigher demands, using economic means gained political power, with a political right gained greater economic benefits. In Yeltsin times, thefinancial industry got the huge economic interests by this way, but whenafter Vladimir Putin as Russia’s President, gradually realized the financialindustrial group and control group not conducive to economic growth inRussia. So Putin administration selected some oil companies controlled byoligarch to nationalize, but it did not cut off Russia privatization process,nationalization is just a small correction but the big trend has not changed.In2008, the subprime mortgage crisis triggered by the internationalfinancial crisis sweeping the globe, Russia cannot stay alone. Oil exportrevenue is large source of Russian international revenue and Russiandomestic tax revenue is to rely on domestic energy companies.In2008-2009,the international oil prices decline make a bad impact inRussia, and Russian government increased government investmentin orderto stimulate the domestic economy.And then in the2009Russiamakedeficit.Russia in order to increase governmentrestartedthe privatizationprocess. On November27,2010, Prime Minister Vladimir Putin signed a government order, the privatization of the domestic state-controlledshareholding enterprises. The Government would also like to attractinternational investors and expansion of the middle class throughprivatization. By the end of2012, the privatization has been progressed, butthe target is not accomplished. What the most important reason is that thereis not had systematic strategic planning and the senior officials of thestate-owned enterprises did not cooperate.Finally, through the introduction of the entire privatization process inRussia, the paper wants to provide reference for the reform of China’sstate-owned enterprises. Hope that Nationalization reform in Chinacomplies with the economic and social environment on the basis of reform,both to ensure the smooth transition of social harmony and economic.