Post-Socialist Reconstructuring: Firms, State and Local Governance in Kostomuksha, Russia (original) (raw)

2009

Abstract

After nearly twenty years after the collapse of socialism the resulting fragmentation of the Russian business and regional economies has become visible. The winners stand tall compared to the losers. One relatively successfully restructured local economy is the town of Kostomuksha. Based on a regulation cum governance approach, we show that the mining town of Kostomuksha in Russia is an example of a local economy, where the local forms of governance have managed to create a local compromise and a common agenda among the local and foreign-owned firms, the public sector, and the labour force to promote and support the local economy. Hence, although the Kostomuksha economy first collapsed in the post-socialist turmoil of early 1990s, the local economic actors in the business community, the public sector and the labour force have later succeeded in constructing a governance mechanism that has been effective in regulating the local economic accumulation. Today, during a novel crisis, the...

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