Abstract

http://ssrn.com/abstract=311276
 
 

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Institutional Reform in Transition: A Case Study of Russia


Bernard S. Black


Northwestern University - School of Law; Northwestern University - Kellogg School of Management; European Corporate Governance Institute (ECGI)

Anna Tarassova


University of Maryland - Center on Institutional Reform and the Informal Sector (IRIS)


Supreme Court Economic Review, Vol. 10, pp. 211-278, 2003

Abstract:     
A decade of experience with the transition from centrally planned to market economies has taught us that the strength of a country's market-supporting "institutions" powerfully affect transition success. However, the necessary institutions are rarely specified in detail. This Article is an early installment on a larger project that begins the task of providing this missing detail through a case study of Russia. We describe the multiple legal, institutional, and microeconomic reforms that Russia needed to put in place as part of its transition to a market economy. We discuss the important and sometimes nonobvious synergies between different reform elements, and explain why these synergies make controlling corruption a core element of successful transition, which Russia long neglected. Our basic message is to stress the complexity of reform, the interrelatedness of reform elements, and the pervasive effect of corruption in undermining reform effort, and the potential for (mostly) self-enforcing laws to limit bureaucracy and corruption.

Number of Pages in PDF File: 70

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Date posted: August 15, 2002  

Suggested Citation

Black, Bernard S. and Tarassova, Anna, Institutional Reform in Transition: A Case Study of Russia. Supreme Court Economic Review, Vol. 10, pp. 211-278, 2003. Available at SSRN: http://ssrn.com/abstract=311276 or http://dx.doi.org/10.2139/ssrn.311276

Contact Information

Bernard S. Black (Contact Author)
Northwestern University - School of Law ( email )
375 E. Chicago Ave
Unit 1505
Chicago, IL 60611
United States
512-503-2784 (Phone)

Northwestern University - Kellogg School of Management
2001 Sheridan Road
Evanston, IL 60208
United States
847-491-5049 (Phone)
European Corporate Governance Institute (ECGI)
Brussels
Belgium
Anna Tarassova
University of Maryland - Center on Institutional Reform and the Informal Sector (IRIS) ( email )
2105 Morrill Hall
College Park, MD 20742
United States
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