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Liberalization Of The Capital Market In Russia, Nejc Smole
Liberalization Of The Capital Market In Russia, Nejc Smole
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This paper analyzes the empirical events of capital market liberalization in Russia and refers to the procedure of capital market liberalization described in theory as a benchmark to assess the magnitude of events shaping the capital market liberalization in Russia.
The reformers of Russian regime change did not take a gradual approach of adjustments toward a successful socioeconomic transition. The state failed to create market-supporting institutions and instead rather proceeded with an ambitious program of synchronized application of policy changes and the economic liberalization. Lack of market-supporting institutions and an underdeveloped legal system in Russia have been the key tools …