The Former Soviet Republics Confront Privatization: A Russian Analysis

Publication Date: October 1991

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): Leonid Grigoriev

Research Area: Economics

Keywords: Russia and Eurasia

Type: Report

Coverage: Soviet Union

Abstract:

One of the most urgent tasks for the republics of the former Soviet Union is to dismantle their inefficient, state dominated economies and to turn over to private ownership
virtually all state-owned agriculture, businesses, housing, industry, and land. This transition from a communist command economy to a market economy--commonly known as privatization--must be undertaken with unprecedented speed, because the Soviet economy is collapsing, and only a growing, robust private sector can save it.