Privatization and Transition in Russia in the Early 1990s

4   Implementation of privatization, 1992–1994

In Chapter 3 we observed that, unless it was part of a larger coordinated programme of economic and legislative reform, the Russian Mass Privatization Programme would be very limited in what it would be able to achieve. In Chapter 2 we noted that the political consensus to achieve comprehensive reform was lacking. The executive branch was split in its approach, and was, in any case, at loggerheads with the legislature. Most of the economic reform programme was enacted by presidential decree and, as such, arguably lacked a sense of legitimacy, although parliament itself accorded the president such powers and parliament approved most decrees. The passage of the Privatization Programme through parliament ...