러시아 정치경제시스템에서 부패의 기능 - 에너지 산업에서의 부패를 중심으로

Abstract

Russia already became a gas producing nation in 1983. These abundant resources, however, become a rich source of corruption as monopolistic producer, corrupted bureaucrat and Mafia building a close connection. The purpose of this paper is to understand corruptions in Russia's energy corporations. Corruption also occurred in September of 2005 at the take over process of Sibneft group to Gazprom. the takeover was conducted as Millhouse holding company, invested by Abramovich, sell 72.6% of Sibnoft group's shares to Gazprom at 13 Billion dollars. There are two different interpretations on this take over. One is that the sale price of Sibnoft was less than half of the market price, and the other is that Kremlin intentionally dropped the price of Sibnoft to make Abramovich resign. Many experts like Yukos agree with the second view. Privatization process of Surgutneftegaz group also shows typical phenomenon of corruption. During 1997 to 1998, Bogdanov bought 85% of Surgutneftegaz's share through finance company. There was only one competing bidder in 1997 when 40% of Surgutneftegaz's share was on an auction. The successful bid of 73.5 million dollar was slightly above the minimum bid. This implies many preferential treatment was given and recurrence of insider trading. Corruption in energy sector also well appears in Russia's largest energy corporation, Gazprom. Capital expenditure of Gazprom was as large as 50 billion dollars in 2011. Many experts carefully insist that 70% of its capital expenditure is "value destruction", instead of saying corruption or waste. Surprisingly, it is assumed that Gazprom wasted 35 billion dollars in 2011. According to Nemtsov and Milov, Gazprom sold part of Sogaz, Gazfond, Gazprombank and Gazprom media at a very low price, and purchased Sibneft at extremely expensive price. In this process, corruption was prevalent and the total amount of corruption is assumed to be 40 billion dollars in 2011. It is as large as Gazprom's net income of 44.7 billion. As shown above, Russia's abundant energy resources, especially oil and natural gas provide rich soil for corruption. Corruption in energy sector has many different types. It includes tax evasion by forged documents, imposing additional tax by authority, compulsory purchase, favor in auction process, and cozy relations between politics and business. Corruption causes both direct and indirect loss. Corruption allows bribe to insure in- competitive favor which leads to destruction of competition in market economy, increase of transaction cost and rise of corruptive monopoly. At the end, it all diminishes the economic efficiency.