New Amendments to Russia's Privatization Legislation: Cosmetic Measures or Further Deregulation?

Russian Economic Developments. Moscow, 2016, #2, pp. 86-92

7 Pages Posted: 22 Feb 2016

See all articles by Georgy Malginov

Georgy Malginov

Gaidar Institute for Economic Policy

Alexander Radygin

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Date Written: February 20, 2016

Abstract

Analysis of recent updates to the Russian privatization legislation in 2015 allows saying that the 2015 amendments as a whole aim to boost the process of privatization. The suggested enhancements for the information system of privatization of government-owned and municipal property and for the mechanism of selling such property are intended to render the entire privatization process more transparent while counteracting occurrences of corruption and criminality. It has not gone unnoticed that the practice of narrowing the scope of the privatization legislation continues. Since the legislation came into force late in 2001, the number of property categories whose disposal goes beyond the scope of the provisions thereof has nearly doubled (to 20 from 11), some of which have been given a broader interpretation. The next few years will show what kind of effect the potential of the foregoing amendments has on the effectiveness of this process, bearing in mind the contribution to meeting the federal budget deficit and generating budget revenues at other levels of public authority.

Keywords: Russian economy, privatization

JEL Classification: H82, K11, L33

Suggested Citation

Malginov, Georgy and Radygin, Alexander, New Amendments to Russia's Privatization Legislation: Cosmetic Measures or Further Deregulation? (February 20, 2016). Russian Economic Developments. Moscow, 2016, #2, pp. 86-92, Available at SSRN: https://ssrn.com/abstract=2735275 or http://dx.doi.org/10.2139/ssrn.2735275

Georgy Malginov

Gaidar Institute for Economic Policy ( email )

Gazetny Lane 3-5
Moscow, 125993
Russia

Alexander Radygin (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

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