NEW AMENDMENTS TO RUSSIA’S PRIVATIZATION LEGISLATION: COSMETIC MEASURES OR FURTHER DEREGULATION?

Alexander Radygin and Georgiy Malginov

Russian Economic Development, 2016, issue 2, 86-92

Abstract: Analysis of recent updates to the Russian privatization legislation in 2015 allows saying that the 2015 amendments as a whole aim to boost the process of privatization. The suggested enhancements for the information system of privatization of government-owned and municipal property and for the mechanism of selling such property are intended to render the entire privati - zation process more transparent while counteracting occurrences of corrup- tion and criminality. It has not gone unnoticed that the practice of narrowing the scope of the privatization legislation continues. Since the legislation came into force late in 2001, the number of property categories whose disposal goes beyond the scope of the provisions thereof has nearly doubled (to 20 from 11), some of which have been given a broader interpretation. The next few years will show what kind of eff ect the potential of the foregoing amendments has on the effectiveness of this process, bearing in mind the contribu- tion to meeting the federal budget defi cit and generating budget revenues at other levels of public authority.

Keywords: THE PRIVATIZATION; THE STATE OF PROPERTY RELATIONS; Russian Economy (search for similar items in EconPapers)
JEL-codes: H82 K11 L33 (search for similar items in EconPapers)
Date: 2016
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