Приватизация 30 лет спустя: масштабы и эффективность государственного сектора (Privatization 30 Years Later: Scope and Efficiency of the Public Sector)

76 Pages Posted: 10 Mar 2019

See all articles by Alexander Radygin

Alexander Radygin

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

Revold Entov

Gaidar Institute for Economic Policy

Alexander E. Abramov

Gaidar Institute for Economic Policy

Maria Chernova

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

Georgy Malginov

Gaidar Institute for Economic Policy

Date Written: February 11, 2019

Abstract

Russian Abstract: Авторы на основе краткого исторического экскурса анализируют современные приоритеты российской приватизации. В докладе оцениваются размер государственного сектора экономики и целесообразность приватизации некоторых крупных российских компаний с государственным участием в условиях санкций. Показано, что сводные финансовые характеристики компаний с госучастием, как правило, хуже показателей частных компаний и зарубежных конкурентов, а совокупный доход по акциям первых меньше минимальной рыночной доходности по акциям. Эмпирическая часть доклада подготовлена по материалам выборки из 265 крупнейших частных и государственных российских компаний, по которым доступна публичная финансовая отчетность.

English Abstract: The authors, on the basis of a brief historical excursion, analyze the current priorities of Russian privatization. The report assesses the size of the public sector and the feasibility of privatizing certain large Russian companies with state participation in the context of sanctions. It is shown that the consolidated financial characteristics of companies with state participation, as a rule, are worse than those of private companies and foreign competitors, and the total return on the shares of the former is less than the minimum market return on shares. The empirical part of the report is based on a sample of 265 largest private and state-owned Russian companies for which public financial reporting is available.

Note: Downloadable document is in Russian.

Keywords: приватизация, государственная собственность, компании с государственным участием, программа приватизации, санкции; privatization, state property, companies with state participation, privatization program, sanctions

JEL Classification: B20, D20, D60, G38, H82, H83, K40, L30, P20

Suggested Citation

Radygin, Alexander and Entov, Revold and Abramov, Alexander E. and Chernova, Maria and Malginov, Georgy, Приватизация 30 лет спустя: масштабы и эффективность государственного сектора (Privatization 30 Years Later: Scope and Efficiency of the Public Sector) (February 11, 2019). Available at SSRN: https://ssrn.com/abstract=3337782 or http://dx.doi.org/10.2139/ssrn.3337782

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

Revold Entov

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

Alexander E. Abramov

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Maria Chernova

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

Russia

Georgy Malginov

Gaidar Institute for Economic Policy ( email )

Gazetny Lane 3-5
Moscow, 125993
Russia

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