9780754644026

The Institutional Economics of Russia's Transformation

by
  • ISBN13:

    9780754644026

  • ISBN10:

    0754644022

  • Format: Hardcover
  • Copyright: 2005-10-20
  • Publisher: Ashgate Pub Co

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Summary

This book applies institutional theory to the analysis of the post-Soviet Russian economy to bring to light the reasons why reforms have gone awry. Emphasis is put on the elements missed in the early blueprints of reforms: constraints embodied in formal and especially informal institutions. Other aspects considered include the dominant model of power relationships and the networks of localized and personalized relationships among economic actors. The first part provides a general description of the core concepts of institutional theory, including both the 'old' institutionalism of T. Veblen and J. Commons and the 'new' institutional economics of R. Coase, O. Williamson and D. North, and in the second part an institutional model of the post-Soviet Russian economy is developed. In the course of the analysis the authors discuss such unresolved issues as post-privatization development in Russia and validity of the Coase theorem in the post-Soviet institutional context. Rich empirical data grounds the discussion throughout.

Table of Contents

List of Figures
vii
List of Tables
viii
List of Contributors
x
Acknowledgments xi
Preface: Institutional Traps in the Post-Privatization Development of the Russian Economy xiii
Anton Oleinik
PART I: RECENT DEVELOPMENTS IN INSTITUTIONAL THEORY
The Evolution of Institutional Theory and Its Structure
4(17)
Rustem Nureev
Values, Coordination and Rationality: The Economy of Conventions
21(24)
Laurent Thevenot
Francois Eymard-Duvernay
Olivier Favereau
Andre Orlean
Robert Salais
Transaction Cost Economics: From the Coase Theorem to Empirical Studies
45(20)
Claude Menard
Theory of Optimal Contract: Modeling Contractual Relationships
65(23)
Stephane Saussier
Theory of Organizations: The Diversity of Arrangements in a Developed Market Economy
88(24)
Claude Menard
Institutionalism in a New Economic History
112(17)
Rustem Nureev
Yuri Latov
PART II: AN INSTITUTIONAL MODEL OF RUSSIAN CAPITALISM
The Main Institutional Models of the Emergence and Development of Capitalism
129(20)
Rustem Nureev
A Model of Network Capitalism: Basic Ideas and Post-Soviet Evidence
149(23)
Anton Oleinik
A Distrustful Economy: An Inquiry into Foundations of the Russian Market
172(19)
Anton Oleinik
Post-Soviet Privatization in the Light of the Coase Theorem: Transaction Costs and Governance Costs
191(22)
Wladimir Andreff
Russian Privatization at Bay: Some Unresolved Transaction and Governance Cost Issues in Post-Soviet Economies
213(32)
Wladimir Andreff
Institutional Analysis of the State
245(20)
Anton Oleinik
The Extralegal Economy and the Methods for Analyzing It
265(25)
Anton Oleinik
Business Groups in Russian Industries
290(19)
Svetlana Avdasheva
Bibliography 309(32)
Index 341

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