Russia has experienced dramatic changes in land ownership and tenure since 1991, but the development of land markets is still circumscribed by inadequate administrative and technical infrastructure. The paper discusses the evolving legal framework for land reform, the impacts on privatization...

Russia has experienced dramatic changes in land ownership and tenure since 1991: agricultural land has been largely privatized, individual landowners now have legal rights to most agricultural land in the country, and prohibitions on buying and selling of land have been recently removed. The...

Since the seminal work of Adam Smith, markets have been considered an efficient tool for co-ordinating the behaviour of economic agents. The basic characteristic of a market economy is that the complex system of interaction among individuals is not centrally coordinated. Under the assumption of...