Specificity Of "Contractual" Relations Of Government And Business In Russian Fuel And Energy Sector

Bagrat Yerznkyan

Montenegrin Journal of Economics, 2006, vol. 2, issue 3, 139-150

Abstract: Specific relations of government and business in Russian fuel and energy sector described as "contractual" are considered. Two players - government and business - play a dynamic contractual play, i.e. they make some series of agreements concerning rentdistribution amongst them. To model this game, we use simple contractual scheme of O. Williamson. Such a model permit us demonstrate relations of three business players, namely: oil, gas and electricity players, from one hand, and the government, from another. Dynamics means that we consider three stages - retrospective, presentday and perspective. Some conclusions of perspective strategy for development of Russian economy are done.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:mje:mjejnl:v:2:y:2006:i:3:p:139-150

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