The Development and Performance of the Bankruptcy System in Contemporary Russia

Katsumi Fujiwara
Additional contact information
Katsumi Fujiwara: Osaka University of Foreign Studies, Japan

The Journal of Comparative Economic Studies (JCES), 2005, vol. 1, 59-78

Abstract: This paper investigates the working of the Russian bankruptcy system. The Russian bankruptcy system does not succeed in accelerating the withdrawal of inefficient enterprises from the market or reinforcing payment discipline. However, this is not entirely due to the faults of the bankruptcy system. A large share of debt owed to the state and the large influence of the state as an owner of strategic enterprises seriously distort a functioning of the bankruptcy system. Besides, the high rate of loss-making enterprises and the resistance of regional governments make the bankruptcy system difficult to work more effectively. Although these conditions are basically originated in state control of the economy under the Soviet Union, the Russian government also deliberately exploits its position as a creditor or an owner in relation to a lot of enterprises. All these conditions are characteristics peculiar to Russia, than common to transition countries.

Keywords: Russia; Transition; Bankruptcy system (search for similar items in EconPapers)
JEL-codes: K49 P52 (search for similar items in EconPapers)
Date: 2005
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.kier.kyoto-u.ac.jp/~ces/jces/01_jces_2005/07_Fujiwara.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cos:epaper:v:1:y:2005:p:59-78

Access Statistics for this article

More articles in The Journal of Comparative Economic Studies (JCES) from The Japanese Society for Comparative Economic Studies (JSCES) Contact information at EDIRC.
Bibliographic data for series maintained by Hiroaki Hayashi ( this e-mail address is bad, please contact ).