Functioning wholesale markets are crucial if market reforms are to succeed in Russia. In the agricultural sector, wholesale markets are needed to provide private farmers an outlet for their production. This article traces the development of commodity exchanges in the last years of the Soviet Union and into the post-Soviet period in Russia. Based upon interviews, published, and unpublished information, the article also examines in detail how agricultural commodity exchanges operate, and how cultural and logistical problems complicate commodity exchange trade. However, the article concludes that the state's agricultural pricing policy represents the greatest obstacle to the further development of trade.
Building Market Institutions: Agricultural Commodity Exchanges in Post-Communist Russia
This article is based upon research conducted in Russia funded by a post-doctoral fellowship from the Social Science Research Council, which is not responsible for the views or content herein. The author would like to acknowledge the assistance of Andrei Shepetov, who arranged interviews in Moscow, and to express thanks to Andrei Yakovlev of the Institute for Research of Organized Markets (INIOR), who provided valuable background information on the development of birzhi, and especially to Aleksandr Vasilev, President of Rosagrobirzha, who provided much of the unpublished information cited in this article.
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Stephen K. Wegren; Building Market Institutions: Agricultural Commodity Exchanges in Post-Communist Russia. Communist and Post-Communist Studies 1 September 1994; 27 (3): 195–224. doi: https://doi.org/10.1016/0967-067X/94/03/0195-30
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