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Restructuring Russian Industry: Can It Really Be Done?

Author

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  • Gennady Polonsky
  • Zaven Aivazian

Abstract

The authors argue that under the current political and economic conditions the restructuring of Russian enterprises on a mass scale is impossible, because the aims and methods of the restructuring programme often get in the way of the interests of different groups who in fact prosper on the inefficiency of private enterprise. These groups pay lip service to the restructuring process but do everything possible to slow down and block the process when their interests are threatened. The only group which is truly interested in restructuring of an enterprise is the middle managers. However, they are the least influential and least organised to affect enterprise restructuring. The article also addresses the legislation and especially the new law on bankruptcy, which potentially could speed up the restructuring process to a considerable extent. However, owing to the activities of some of the interest groups analysed, the law is failing to achieve its original aim. The occasional success stories have a very limited impact on Russian industries and in fact confirm the argument.

Suggested Citation

  • Gennady Polonsky & Zaven Aivazian, 2000. "Restructuring Russian Industry: Can It Really Be Done?," Post-Communist Economies, Taylor & Francis Journals, vol. 12(2), pages 229-240.
    • Handle: RePEc:taf:pocoec:v:12:y:2000:i:2:p:229-240
    DOI: 10.1080/14631370050043661
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    References listed on IDEAS

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    1. Boycko, Maxim & Shleifer, Andrei & Vishny, Robert W., 1997. "Privatizing Russia," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522284, December.
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    Cited by:

    1. Frode Nilssen & Geir Hønneland, 2001. "Institutional Change and the Problems of Restructuring the Russian Fishing Industry," Post-Communist Economies, Taylor & Francis Journals, vol. 13(3), pages 313-330.
    2. Linz, Susan J., 2004. "Motivating Russian workers: analysis of age and gender differences," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 33(3), pages 261-289, July.

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