'Security of property rights is a key economic institution of capitalism and the most important determinant of growth-enhancing investment. So why don't all countries protect private property rights? The answer is politics. For more than twenty years, Timothy Frye has studied the political legitimacy of property rights in Russia, the country which has carried out a unique century-long experiment in ... Read moreproperty rights protection. For three quarters of a century Russia destroyed private ownership and then tried to recreate it – with mixed results at best. Studying formal and informal institutions, Professor Frye explains the failures and successes of Russian capitalism. This book is a must read for all future reformers and especially for privatizers.' Sergei Guriev, Chief Economist, European Bank for Reconstruction and Development Show Less