Cover -- Half-title -- Title -- Copyright -- Dedication -- Contents -- Foreword Russia in the New Century -- The "Wild Nineties" -- The New Economy -- Acknowledgments -- Prologue -- Capitalism Russian-style: introducing the book -- A decade like no other -- August 1988: the music stops -- 1 The new Russian Revolution: false start or dead end? -- Transition dominates the Russian Nineties -- Not transition but nomenklatura takeover -- August 1998: a reality test -- A revolution by accident? -- Three waves that launched a revolution -- The incomplete penetration of money -- From state property to private property -- Rethinking the state -- The captured revolution -- Summing up: revolution or reaction? -- 2 Creating owners: insider privatization and its consequences -- How insider privatization happened -- The first phase of privatization, 1992-1995 -- The second phase of privatization, 1995-1998 -- The economic consequences of privatization -- Is insider domination really the problem? -- Different environments, different responses -- Foods -- Oil -- "Natural monopolies" -- Automobiles -- 3 Wall Street comes to Moscow: the rise of private capital markets -- Two models for Russia -- Boom and bust: two market cycles compared -- The second time around -- The stockbrokers -- How the Russian stock market works -- Registrars and custodians -- Regulating the securities market -- Five targets for reform -- If not the Russian stock market, then what? -- 4 The rise and fall of the private banks -- How the Russian private banks got their start -- The Soviet banking system breaks up -- How the Russian banks made money in the "golden age" -- Giants among pygmies, pygmies among giants -- 1995-1996: the game changes -- The government's poisoned chalice: GKOs and OFZs -- Fall 1997: the Russian banking crisis begins -- A failure of state regulation.

Picking up the pieces: responses to the collapse -- Phase One: Emergency measures -- Phase Two: Restructuring -- Asset-stripping vs. reorganization -- The future of the banking system -- 5 No capitalism without capitalists: entrepreneurship in the new Russia -- Entrepreneurship - the crucial ingredient -- A pseudo business class? -- Entrepreneurship before perestroika -- The first wave of legal private enterprise (1986-1991): cooperatives and their descendants -- Vladimir Dovgan': pioneer of Russian franchising -- The Komsomol: training ground for private enterprise -- Mikhail Khodorkovskii: from Komsomol activist to businessman -- 1991-1992: entrepreneurs from within the system -- Igor Malashenko: "truth is our profession" -- A Rockefeller from Baku -- Russian entrepreneurship today: tough to get started, even tougher to survive -- Taxes -- Bureaucratic obstacles -- Conclusions -- 6 Russia's epidemic of crime -- A tidal wave of crime -- What makes Russian crime different? -- The Russian "trademark" crimes: extortion, fraud, and bribery -- The hapless private sector -- The deficient state and its consequences -- Who are the criminals? -- Disorganized Russian crime: "in this environment, who can do any business?" -- The impact of crime -- The future of Russian crime -- 7 Toward the rule of law? -- Weaknesses of the Russian legal system -- The Soviet inheritance -- What laws to write? -- The new civil and criminal codes -- Executing the laws -- Half-way to independence? -- Too few judges, and too few good ones -- Corruption, abuse of power, and self-regulation -- Progress in building a new legal order -- The commercial courts -- Three main problems of the commercial courts -- Conclusion: how much justice is enough? -- 8 Beyond coping: toward the recovery of Russian society -- 1991-1995: the post-Soviet shock.

On the eve of August 1998: the beginnings of stabilization? -- Beyond coping: positioning for long-term? recovery -- An emerging Russian middle class? -- Popular savings and investment -- The right people in the right places -- No precedent outside of war or famine -- Winners and losers among regions -- The drag of the Russian welfare burden -- Beyond coping? -- 9 The shrinking Russian state and the battle for taxes -- The epidemic of tax evasion -- Dilemmas of Russian tax policy -- Building an enforcement system -- Fighting the "red rooster" -- The problem of taxpayer' rights -- How to beat the tax collector -- Center vs. regions: the issue of revenue-sharing -- The battle against loopholes, exemptions, and other temptations -- Reforming the system: the Tax Code -- Conclusion: taxes and state power -- 10 Conclusion: halfway to the market - Russia on the eve of the twenty-first century -- Russia's "barbell" economy -- The Russian investment crisis -- Potential for growth and wealth: toward a Russian economic miracle? -- Russia, the Asian model, and the Asian crisis -- Can Russia compete in the twenty-first century? -- Continuing forces for change -- Economic performance and political acceptance -- Bibliography -- GENERAL -- THE SOVIET AND GORBACHEVIAN BACKGROUND, POST SOVIET POLITICS: -- BUILDING A MARKET SYSTEM -- MANAGING THE TRANSITION -- PRIVATIZATION, CORPORATE GOVERNANCE, AND PROPERTY RIGHTS -- BUILDING NEW FINANCIAL INSTITUTIONS -- THE SOCIAL FABRIC FOR A MARKET SYSTEM -- POVERTY AND INEQUALITY -- UNEMPLOYMENT AND SECONDARY EMPLOYMENT -- THE NEW RUSSIAN ENTREPRENEURS, FINANCIAL-INDUSTRIAL GROUPS, AND SMALL BUSINESS -- HEALTH AND POPULATION -- CRIME AND CORRUPTION -- CIVIL SOCIETY -- INFRASTRUCTURE, SECTORS, AND REGIONS -- THE ROLES OF THE STATE -- MONETARY AND FINANCIAL POLICY -- INDUSTRIAL AND INVESTMENT POLICY -- SOCIAL AND WELFARE POLICIES.

THE LEGAL FRAMEWORK -- THE TAX SYSTEM -- MISCELLANEOUS -- JOURNALS AND NEWSPAPERS -- IN RUSSIAN -- IN ENGLISH -- INTERNET RESOURCES -- Index.