Entrepreneurship and property rights within Russia’s business law environment (the correlation)

Abstract

Focuses on Russia and examines the development and significance of attaining an entrepreneurial business culture together with clear enforceable property rights within a legal framework. The connection between property rights, entrenched economic growth and an entrepreneurial culture together with the influence of history and culture on the Russian legal system is reviewed and assessed. There is an overview of recent relevant business and property law legislation including the land codes of 200 I and 2002 and the civil code of 1995 and the connected problems as Russia strives to become a market economy. The article also incorporates a Finnish perspective which comprises of the authors own views whilst working in Finland together with aspects of the Finnish outlook in relation to their business dealings with Russia. This also includes an interview with a company’s managing director (specialising in Russia’s business environment and the development of Finnish entrepreneurial activity’. The author concludes on the significance of the socialist legacy and its effect on Russia’s legal system and property rights. In particular how it is perceived by entrepreneurs and the effect on the purchase of land and production facilities because of the risk involved.