Russian big business facing challenges of the global crisis

S. Afontsev () and S. J. Lee ()

Voprosy Ekonomiki, 2013, issue 5

Abstract: The article addresses factors that allowed large Russian companies to withstand the economic crisis, as well as prospects for their business expansion in the post-crisis setting. While anti-crisis policies adopted by Russian government supported big business substantially during the first months of the recession, they hardly played any pro-business role since mid-2009. The analysis of capitalization figures and sales volumes shows that leading positions of state-owned companies in oil, gas and financial sectors were in fact strengthened during the crisis. Excessive state control over corporate assets and decision-making works as a barrier to post-crisis recovery of large Russian companies and should be substituted for by policies supporting internationalization strategies and productivity improvements.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2013:id:536

DOI: 10.32609/0042-8736-2013-5-40-55

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