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  5. The Role of Oligarchs in Russian Capitalism

Journal of Economic Perspectives

ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)

The Role of Oligarchs in Russian Capitalism

  • Sergei Guriev
  • Andrei Rachinsky
Journal of Economic Perspectives
vol. 19, no. 1, Winter 2005
(pp. 131–150)
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Abstract

Using a unique dataset, we describe the degree of ownership concentration in Russian economy and its role in shaping economic and political institutions in Russia. In particular, we find that Russian "oligarchs" do control a substantial part of the economy. While the relative weight of their firms in Russian economy is huge, they do not seem to be excessively large by the standards of the global economy where most of them are operating. The oligarchs seem to run their firms more efficiently than other Russian owners controlling for industry, region and size.

Citation

Guriev, Sergei, and Andrei Rachinsky. 2005. "The Role of Oligarchs in Russian Capitalism." Journal of Economic Perspectives, 19 (1): 131–150. DOI: 10.1257/0895330053147994

JEL Classification

  • P26 Socialist Systems and Transitional Economies: Political Economy; Property Rights
  • P31 Socialist Enterprises and Their Transitions
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