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Property And Small-Scale Privitization In Russia., Richard C. Schneider Jr.

St. Mary's Law Journal

Knowing who owns what suddenly became important in Russia because of dramatic economic and market reforms of the Yeltsin government. The transfer of property, from the state to the private sector is at the heart of the reforms. It is generally recognized the “foundations of a market-based economic system are property rights and private ownership.” The purposes of this article are to (1) summarize reforms which successfully introduced a scheme of private ownership in Russia, as demonstrated by the Nizhny Novgorod experiment, and (2) discuss those property rights which remain unclear. Accordingly, the second and third parts of the article …