Successes and Failures of the Russian Energy Market Reforms

S. Chernavsky
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S. Chernavsky: Central Economics and Mathematics Institute of RAS, Moscow, Russia
Authors registered in the RePEc Author Service: Sergei Yakovlevich Chernavskii

Journal of the New Economic Association, 2014, vol. 23, issue 3, 165-169

Abstract: The partial privatization of the Russian energy industry with retained state regulation has made it impossible to produce targeted market models. In the paper the paths of the 2001 and 2008 reforms in the electricity and gas industries and in the associated petroleum gas market are discussed. Successes and failures of the reforms are evaluated in terms of the public interest. It has been shown that the reforms in all the three industries have not yet been completed and require further development.

Keywords: social welfare; transition economy; economic reforms; associated petroleum gas market; electricity; natural gas industry; intermediate institutions; competitive market; marginal cost of production; econometric models; privatization of state property; effectiveness of regulation (search for similar items in EconPapers)
JEL-codes: D60 L11 L13 L51 L78 L94 O38 P21 P22 P28 Q48 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2014:i:23:p:165-169

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