Table: Russia's Third Way
Khabarovsk Governor Victor Ishayev's formula for stimulating the economy
1.The Ishayev government takes a controlling stake in debt-ridden enterprises mismanaged or looted by the first generation of private owners.
2.With assistance from a local bank part-owned by the Khabarovsk government, the enterprises are reorganized, supplied with financing, and pushed to develop good business practices.
3.The government-owned property is sold or transferred to strategic investors who pledge to replenish capital. Regional administration retreats to roles as regulator, tax collector, and in some cases, credit guarantor.