Enterprise restructuring and economic policy in Russia

摘要: This book is concerned with the role and organization of enterprise sector in Russia, particularly Russia's concerted efforts to privatize ownership arrangements, hence replace state control corporate governance. volume presents results a large survey 400 industrial firms carried out by World Bank mid-1994. The allowed look at origins adverse shocks, combination both aggregate demand supply shocks including major negative effects associated decline explicit subsidies government transfers, diminution cheap credits, trade among territories formerly comprising Soviet Union. authors distinguish between an impact effect, or restructuring, longer-term, strategic, positive restructuring decision. Overall, have been forced restructure, primarily through generally reductions employment, working hours, wages. Employment adjustment particular has relatively slow. Chapters 2 3 use analyze aspects wage employment decisions Russian firms, noting that Russia experienced stage some initial flexibility. structure preferences come together limit growth open unemployment. Net job destruction accelerated worker monetary compensation remained low, but still act benevolently, providing stability as well significant range non-monetary social benefits. posture financed transfers banking system short-term solution, impeding complete effective restructuring. Among other problems cites impediments entrenched power insiders, managers, most privatized potentially further entrenchment could result from closer, undesirable links establishment government.