Brokers and Bureaucrats: Building Market Institutions in Russia

Acknowledgments

Acknowledgments Work on this book has taken me to Manhattan, Rochester, Boston, and Columbus, with six trips to Moscow along the way. lowe a debt of gratitude to many people. At Columbia University I have many people to thank, but my greatest debt is to Jack Snyder. Were it not for Jack, I would not be in political science today. He made it possible for me to enter the Ph.D. program at Columbia and sparked my interest in studying social order in the postcommunist world. I am only the latest in a long line of Jack's students who have benefited from his legendary ability to return drafts with lightning speed and insightful comments. I must give very special thanks to Joel Hellman, now of the European Bank for Reconstruction and Development. Joel consistently encouraged me to be creative and question the conventional wisdom. His unstinting encouragement , advice, and enthusiasm made all the difference. He has been a good friend as well. Steve Solnick deserves great thanks. Steve read many, many dissertation proposals of varying quality and never failed to give thoughtful comments. His continual reminders to speak to a larger audience greatly improved the final project. My dissertation defense committee ofLisa Anderson , Richard Ericson, Ira Katznelson, Andrzej Rapaczynski, and Jack Snyder turned a potentially harrowing experience into a productive and thoughtprovoking one. I would also like to thank Kurt Dassel, Eric Reinhardt, John Schieman, and Cindy Skatch for helping me during the dog days ofgraduate school. At the University of Rochester I benefited tremendously from the faculty and students. I would like to thank Professor David Weimer for conducting the Seminar on Comparative Property Rights. The training that I received at the University of Rochester and the Wallis Institute of Political Economy has shaped all of my subsequent work. lowe a special debt of thanks to other members of the seminar, especially Daniel Diermeier, Steve Lewis, and Joel Ericson. At Harvard University I incurred many debts. Andrei Shleifer and the Harvard Institute for International Development gave me intellectual guidance and financial assistance during a two-month stay in Moscow. Andrei also deserves thanks for help on several related projects. Jeffrey Sachs went out of his way to include me in the Olin Seminar Series on "Economic Reform and the Rule ofLaw in Russia." Tim Colton always made me feel welcome during my time at the Davis Center. Special thanks go to Jo Andrews, xiv Acknowledgments Katharina Pistor, Rory MacFarquhar, Dan Treisman, and Mark Kramer, who have read almost everything I have written thus far and who, I hope, will continue to do so in the future. In Russia I was extremely fortunate to have Russian colleagues who provided tea, friendship, and much advice. First, my thanks go to the group of young Russian scholars who worked at INIOR, especially Larisa Gorbatova, Andrei Yakovlev, Slava Kokorev, and Yuri Danilov. I call each ofthem friends and colleagues. Aleksander Belozertsev, Pavel Mochalov, and Natasha Stepanova shared with me many insights on the workings of the currency futures markets in Russia. Elena Vinogradova knows more about the legal aspects of private arbitration in Russia than anyone and was generous with her time and insights. Also thanks go to experts at the Federal Commission on Securities and the Capital Market and the Barents' Group, including Margot Jacobs and Alex Berg. Within NAUFOR Dmitrii Ponomarev, Denis Zhuravlev, and Alexei Teliatnikov provided useful advice and insights into their organization. I enjoyed watching it grow. Two research assistants from the Russian Economic School, Alexander Aganin and Lev Ivanov, were very helpful while conducting surveys of equities brokers. I wish them well in their promising academic careers. I would like to thank all the brokers, bankers, and investors who were willing to put "biznes" aside for a little while and share their experiences with a researcher who offered no financial return on their time. Special thanks go to Sherry Loessberg, Christopher Smart, Marlen Manasov, and Oleg Tsarkov, who were subjected to at least three interviews apiece. Very special thanks also go to David Kuenzi, who is both a broker and a scholar. Our many discussions have greatly influenced how I view markets in Russia. He has been a gracious host in Moscow and a good friend. At the Ohio State University I thank David Rowe for many helpful comments on the manuscript; Paul Fritz, Brian Hadcock, and Jon Keller for able research assistance; and Doug Perkins for making sure the tables and figures look presentable. I would...