Based on panel data from 1995 – 1997, the paper focuses on the impact of ownership structure on the performance of Russian non-financial privatized companies that constitute the group of "blue chips" of the country's stock market. We find that ownership concentration results in higher...

Following the liberalization of prices in 1992, the failure of enterprises to make payments to one another became one of the central problems. While nonpayments existed even before the reforms, in an economy of scarcity they were centrally eliminated through mutually balanced accounts and...

The Russian government’s approval in May 2004 of the Concept of the Budget Process Reform started the budget reform that aims to refocus the budget process from cost to performance management. In the article the authors analyze different aspects of introduction of performance based budgeting...

Russian public finance reforming under conditions of substantial increase of budget expenditures is analyzed in the article. Basic directions of the budget reform are considered that are formulated in the variant of the Budget Code, which is currently still under discussion. The focus is made on...