New elites and their influence on entrepreneurial activity in Russia
AbstractWhen Russia transitioned to a democratic institutional system in 1991, some of its regions remained under control of old Communist Party elites, while some fell into the hands of political newcomers (“new elites”). Using a new panel dataset spanning 71 of the Russian regions over the years 1994–2006, I show that regions with new-elite governors whose rise to power was influenced by Putin ended up with significantly fewer small and medium enterprises (SMEs) than otherwise similar regions governed by old elites. One interpretation of this result is that Putin, in alliance with the oligarchs, sought to extend his power to the distant resource-abundant regions by promoting relatively inexperienced new elites to govern those regions. As the oligarchs of big business were allowed to monopolize the resources of the new-elite regions, entrepreneurial activity remained at depressed levels. The newcomers’ lack of leadership experience may have also contributed to this result.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Comparative Economics.
Volume (Year): 40 (2012)
Issue (Month): 2 ()
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Web page: http://www.elsevier.com/locate/inca/622864
Small enterprises; Political development; Economic transition;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- P16 - Economic Systems - - Capitalist Systems - - - Political Economy of Capitalism
- P2 - Economic Systems - - Socialist Systems and Transition Economies
- P3 - Economic Systems - - Socialist Institutions and Their Transitions
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