An extremely timely contribution to the business and economic literature, this is a comprehensive study of the principal issues surrounding the negotiation and operation of joint ventures in the Soviet Union. The contributors include both Soviet and Western trade experts and economists, making this the most complete and balanced treatment of the subject available to date. Their aim is to combine a strong theoretical base with practical analysis of the problems that Soviet and Western business people have encountered in the Soviet economic environment. To that end, the study maintains a historical perspective but places primary emphasis on presenting realistic visions of present and future policy directions in this area.

Divided into five parts, the volume begins by focusing on the motivations for Western businesses to invest in the Soviet Union and the steps that Soviet officials and managers can take to help satisfy and strengthen these motivations. Part II examines the lessons that can be drawn from joint venture experiences in Eastern Europe and China. In the third section, Soviet and Western contributors explore the painful process of economic reform in the Soviet Union and its implications for Western trade and investment. Specific attention is given to the legal framework within which Western firms would be required to operate. The contributors next examine the practical problems encountered by joint ventures in the Soviet Union, drawing upon both the latest data from Soviet central government and their own extensive questionnaire mailing. Finally, the authors provide recommendations on how the Western and Soviet governments and business communities can structure their approaches to optimize the chances for successful joint ventures. Students of international business as well as executives and managers involved in planning joint ventures in the USSR will find this book an indispensable resource.