Russian Enterprise Reform

Book excerpt: To enhance and sustain economic prosperity, Russian authorities must improve the business climate so that firms restructure and the private sector thrives within a market environment. Meeting this challenge requires actions on several fronts. The Russian government asked the World Bank to write policy papers to address this issue. This volume contains those policy papers which were then presented at a high-level workshop in Moscow. The topics include: • removing impediments to robust interfirm competition, such as structural concentration, arbitrary regulatory practices, and entry barriers; • strengthening corporate governance incentive systems; • enhancing the nascent institutional framework for the exercise of creditor rights and implementation of enterprise bankruptcy procedures; • reducing barter and other nonmonetary forms of business transactions; and • fostering enterprise restructuring. The volume also contains formal comments on these papers presented by senior Russian officials at the workshop.