Catalyst or crutch? : the role of privatized land in Russian enterprise restructuring
Author(s)
Fellows, Cory R., 1972-
DownloadFull printable version (2.640Mb)
Alternative title
Role of privatized land in Russian enterprise restructuring
Other Contributors
Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.
Advisor
Meenu Tewari.
Terms of use
Metadata
Show full item recordAbstract
The privatization of enterprise land in Russia has been viewed by many academic and multilateral experts as a key component of restructuring efforts aimed at improving the financial health and efficiency of Russian firms. Advisors who formulated and implemented the programs intended to facilitate this process predicted that landowning enterprises would shield themselves from the uncertainties associated with leasing land from the state, would be better able to attract private capital and secure bank financing, and would be able to raise extra revenue through the sale and leasing of excess land. Any secondary disposition of land, it was generally believed, could help stimulate nascent real estate markets and lead to more efficient land use patterns. My research, the centerpiece of which was field work in St. Petersburg, Russia, suggests that the consensus expectations have been only partially realized. Firms that have purchased their land feel more secure, but on the whole they have been unable to use their land to attract equity and debt. Far more successful have been efforts to raise revenue through land leasing and sales. Overall, enterprise handling of recently privatized land appears to have been oriented toward immediate survival needs.
Description
Thesis (M.C.P.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1999. Includes bibliographical references (leaves 44-46).
Date issued
1999Department
Massachusetts Institute of Technology. Department of Urban Studies and PlanningPublisher
Massachusetts Institute of Technology
Keywords
Urban Studies and Planning.