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Legitimation of Russian Private Property in Institutional-Historical Context

Authors: Vasiliy A. Rudyakov and Tatyana V. Smetanina

Abstract:

Unlike other countries where problems connected with property rights were solved long ago, modern Russia still has to deal with burning issues of specification and protection of property rights. The authors share the opinion of the researchers who believe that without solving this problem it is impossible neither to achieve long-term sustainable growth nor increase the efficiency of both economic agents and economy as a whole and improve national competitiveness. At the same time, because of the ambivalent attitude to this problem, the property rights issues have not been studied widely enough. On the one hand, both theorists and practical specialists know about unsatisfactory situation in Russia with protection of property rights, but on the other hand, only a very limited number of researchers study the reasons behind this sad state of affairs. In the present work, the authors pay special attention to one of the basic reasons behind the current situation, namely, to the contradictions between formal and informal institutions in the Russian economy. These contradictions are constant and have deep historical roots.

Keywords: legitimacy of property; institutional dysfunction; elites; socially embedded institutions.

For citation:

Rudyakov V. A., Smetanina T. V. Problema legitimatsii rossiyskoy chastnoy sobstvennosti v institutsional'no-istoricheskom kontekste [Legitimation of Russian Private Property in InstitutionalHistorical Context]. Izvestiya Uralskogo gosudarstvennogo ekonomicheskogo universiteta – Journal of the Ural State University of Economics, 2016, no. 4 (66), pp. 19–29.