I discuss goals of institutional experimentation as well as obstacles for its realization. The special attention is given to regional experiments. Institutional experiment reduces transformation costs, in particular, by diminishing probability of formation of erroneous reforms trap. The analyses...

It is a typical case in the practice of reforms, when a reformer, who seeks to introduce an institution with desired properties, discovers that its immediate implementation is impossible because of resource, technological, cultural, political or institutional constraints. In this case, one has...

Failure of reforms is typical, and a success is extremely rare. This article analyzes the causes of this phenomenon. Many reform proposals are based on mistakable postulates concerning, in particular, interconnections of economic and political institutions. Reform often used as a tool for rent...

The costs and benefits of privatization are considered, focusing on the current Russian conditions. The experience of many countries, as well as econometric and theoretical studies, a review of which is given in the paper, show that relative efficiency of privatized enterprises in comparison...

Efficiency of privatization depends on the transformation cost and the quality of the state as well as the quality of the market. An analysis of these and some other factors allows to explain diversity of privatization outcomes in different countries and to formulate general principles of the...

In the first part of the paper, it was shown that decisions on privatization have to be considered in the context of more general problem of finding a rational property structure in an economy. The second part demonstrates that public enterprises fulfill a number of special functions which are...

The problem of public sector governance is considered as the task of improving the ownership structure of the economy. In this regard, the first part of the paper provides a brief overview of the theory of privatization. The arguments of supporters and opponents of privatization are confronted...

As by product of economic growth, jobs are indeed transformational. In other words, efficiency increases as workers get better at what they do (as more productive jobs appear and less productive one disappear). In fact societies flourish as jobs bring together people from different ethnic and...

The Russian experience showed that macroeconomic performance in the transition economy is crucially dependent of the right microeconomic fundamentals. The paper offers retrospective view on the initial stages of market transformation in Russia from the point of view of interrelationships between...

It is well-established that market governance can be provided by both public (state) and private organizations. However, the concept of private governance has been used, this article contends, to refer to two distinct forms of non-state governance: private governance and community governance. We...