Doing Business in the New Russia: Rebirth of the Russian Nation
International Lawyer, Vol. 35, p. 961, 2001
36 Pages Posted: 17 Nov 2009
Date Written: September 1, 2001
This article describes the political and economic development of the Russian Federation from its emergence from the dissolution of the USSR through the years of the presidency of Boris Yeltsin to the first year of the government of President Vladimir Putin. When Mikhail Gorbachev became General Secretary of the Communist Party of the Soviet Union in 1985 he instituted some fundamental reforms in the Soviet system. His glasnost and perestroika campaigns were designed to recreate the moribund command economy of the USSR. The principal unintended consequence of the changes he instigated was the dissolution of the USSR in 1991. As the dominant entity within the Soviet Union, Russia had been experimenting with political and economic reforms under Gorbachev. When the Russian Federation became an independent sovereign state with Boris Yeltsin as its President even more radical changes were implemented. The economic chaos of the 1990's brought drastic economic changes to Russia. I describe many of the principal legal developments with the goal of explaining how it is possible to do business in the New Russia in the 21st century.
Keywords: Russia, joint stock company, command economy, privatization, shock therapy, transition, market economy, socialism, economic development, corruption, Boris Yeltsin, oligarchs, economic reform
Suggested Citation: Suggested Citation