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Vol. 74 No. 2 (2021): Białoruś – niedokończona rewolucja

Economy

So hard to part with: Belarusian privatisation and the concept of power-ownership

DOI: https://doi.org/10.35757/SM.2021.74.2.08
Submitted: December 21, 2021
Published: November 8, 2021

Abstract

The aim of this article is to analyse the privatisation process in the Republic of Belarus. This analysis will help to answer two questions. Firstly, is Belarusian privatisation strategic in nature? Secondly, what theoretical framework explains Belarusian privatisation policy?
Juxtaposing the process of transferring state property to the private sphere in Belarus with traditional theoretical frameworks explaining the causes and course of privatisation in the former Soviet bloc countries does not fully explain the actions of the Belarusian authorities. Privatisation transactions were not part of a broader plan to restructure the economy. They were carried out ad hoc, usually as a result of a combination of two factors – pressure from external actors and the need to raise budget funds.
To explain the actions of President Alexander Lukashenko, it seems appropriate to use an approach derived from the concept of power-ownership developed by Russian researchers Yuri Latov and Rustem Nureev. This assumes the formation of property rights from above and directly links political power with property control. In this view, giving up control over property is tantamount to giving up political power.

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