Dividing the Spoils: Pensions, Privatization, and Reform in Russia's Transition

Dividing the Spoils: Pensions, Privatization, and Reform in Russia's Transition. Milanovic, B. & Kapstein, E. B. Technical Report 2292, The World Bank Development Research Group, March, 2000.

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The gains from the transition in post-communist Russia were captured by the new Pensions, Privatization, and Reform managerial class, which won in Russia's Transition rents from the state in the form of privatized enterprises, state subsidies, credits, and opportunities for tax evasion. Those rents reduced state revenues that could have supported social policy - including pension reform, which in turn could have fueled industrial restructuring. With neither pension reform nor industrial restructuring, Russia's economy has continued to shrink.

@techreport{MilanovicKapstein2000,
  type = {Policy {{Research Working Paper}}},
  title = {Dividing the Spoils: Pensions, Privatization, and Reform in {{Russia}}'s Transition},
  author = {Milanovic, Branko and Kapstein, Ethan B.},
  year = {2000},
  month = mar,
  number = {2292},
  institution = {The World Bank Development Research Group},
  doi = {10.1596/1813-9450-2292},
  url = {https://doi.org/10.1596/1813-9450-2292},
  abstract = {The gains from the transition in post-communist Russia were captured by the new Pensions, Privatization, and Reform managerial class, which won in Russia's Transition rents from the state in the form of privatized enterprises, state subsidies, credits, and opportunities for tax evasion. Those rents reduced state revenues that could have supported social policy - including pension reform, which in turn could have fueled industrial restructuring. With neither pension reform nor industrial restructuring, Russia's economy has continued to shrink.},
  keywords = {Determinants of Wealth and Wealth Inequality}
}

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