Ownership concentration in Russian industry

Sergei Guriev () and Andrei Alexandrovich Rachinsky

No w0045, Working Papers from Center for Economic and Financial Research (CEFIR)

Abstract: Using a unique dataset built for the World Bank’s Country Economic Memorandum, we find that a relatively small number of tycoons ('oligarchs') control a substantial share of Russia’s economy. Oligarchs seem to run their empires more efficiently than other Russian owners. 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. However, a majority of the Russian population deems their property rights illegitimate, which creates a fundamental problem for building a democratic and prosperous Russia.

New Economics Papers: this item is included in nep-com and nep-tra
Date: 2004-10
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