Ownership concentration in Russian industry

Sergei Guriev and Andrei Rachinsky

No w0045, Working Papers from New Economic School (NES)

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.

Pages: 29 pages
Date: 2004-10
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Citations: View citations in EconPapers (20)

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