5   Implementation of privatization after 1994


In this chapter we look at the progress of privatization in 1994 and beyond, after the voucher programme ended. In doing so, we have not had access to inside information from western advisers on policy, as we had for the material in previous chapters, in part because neither the Russian government nor any of the international agencies asked for policy advice from such advisers (though they were used on occasion for case-by-case implementation). This chapter is nevertheless important for illustrating how mass privatization and loans-for-shares came to be seen together as a failure and a corrupted process, despite being separate policies with different agendas.

The progress of privatization ...

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