| Gubareva Elena Aleksandrovna
Post-Industrial Entrepreneurship Cycle: is the Hypothesis true
ID number: J2021123
Abstract: The article analyzes theoretical and practical problems of privatization of state property, changes in the privatization legislation of the Russian Federation and regulation of privatization processes. The main problems of the privatization process are identified. Successful privatization of state property depends on the investment attractiveness of the objects being sold, as well as on the overall investment climate of the country and the level of development of financial infrastructure. Microeconomic theory tells us that incentive problems with contracts create inefficiency due to state ownership, given that managers of state-owned enterprises pursue goals different from those of private firms and face less control (management's point of view). Not only are managers' goals distorted, but the budgetary constraints they face are also softened. Empirical data confirm theoretical conclusions in the sense that privatization increases profitability and efficiency in both competitive and monopolistic sectors, although the effect is weaker in the latter. Full privatization has a greater impact than partial privatization, and monopolistic sectors show an increase in profitability exceeding the component due to an increase in productivity that reflects their market power. The scientific novelty of the research consists in the very formulation of topical issues, conducting a holistic, comprehensive study of the legal regulation of the privatization of state and municipal property. Specific measures are proposed to improve the Russian legislation regulating the privatizationof state and municipal property
Key-words: privatization, government, control, municipal and state property, public authority
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