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The use of regulation and governance theories in research on post-socialism: the adaptation of enterprises in Vyborg1

This article deals with developments since the collapse of socialism in Vyborg, the former Finnish city transferred to the Soviet Union's north–west frontier in 1944. It assesses how enterprises founded during the socialist era, their heirs, and new Russian and foreign firms, have coped with economic change and adjusted to the new economic system. It also explains the evolution of hybrid forms of activity on the enterprise level and their impact on the development of Vyborg as a local economy. This paper shows that the traditions of socialism embodied in many enterprises' adaptation strategies have helped the public sector in financial crisis because enterprises have continued the socialist traditions to take care of fractions of public infrastructure.