Gerschenkron Revisited: The New Corporate Russia

Nadia Vanteeva and Charles Hickson

Journal of Economic Issues, 2015, vol. 49, issue 4, 978-1007

Abstract: Our analysis is based on firm-specific data compiled from the Russian Trading System stock exchange and SKRIN (CKPиH in Russian) database. We seek to identify the factors behind Russia’s dramatically improved corporate sector performance from the beginning of the 2000s to December 2007. We argue that improved long-term corporate performance was a consequence of several policy initiatives associated with the state-dominated banking sector, which enabled statesubsidized investment funds to be channeled from a structurally reengineered energy sector to targeted investment projects located in other industries. We claim that Russia’s industrial strategy closely conforms to Alexander Gerschenkron’s catch-up theory.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:mes:jeciss:v:49:y:2015:i:4:p:978-1007

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DOI: 10.1080/00213624.2015.1105028

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