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Unresolved issue of private property legitimacy in Russia

Leonid Grigoryev and Alexander Kurdin ()


Abstract: Private property exists in Russia for almost 25 years. However, the legitimacy of established property rights and the legitimacy of private property as an institution remain ambiguous. Despite the change of generations and the improvement of living standards, numerous opinion polls show that the majority of Russians refers negatively not only to the privatization of the 1990s and its results, but also to private property in general. Positive forecasts on the adaptation of people to new reality do not come true. The authors analyze the reasons and consequences of private property illegitimacy and compare alternative ways of its legitimating. The main conclusion is the uselessness of any discretionary state intervention in this long-lasting process, while the focus should be put on the mitigation of inequality and the enforcement of formal institutions without any exceptions or privileges.

Keywords: protection of property rights; private property; legitimacy. (search for similar items in EconPapers)
JEL-codes: P14 P26 (search for similar items in EconPapers)
Date: 2016
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