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Income inequality and oligarchs in Russian regions: A note

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  • Fidrmuc, Jarko
  • Gundacker, Lidwina

Abstract

We trace the rise of the so called oligarchs in post-Soviet Russia and examine their relationship to income distribution in Russia. When Russia moved to a market economy in the 1990s a new business elite evolved. Russia's distinctive path towards market economy, among other factors, gave rise to the oligarchs who now control large parts of the economy and have a strong standing within politics and society. Using a unique regional data set on the locations of oligarchs’ businesses across the Russian regions, we test Acemoglu's (2008) proposition that oligarchic societies experience extreme income inequality. Our results show significantly higher levels of income inequality in regions with a higher presence of oligarchs.

Suggested Citation

  • Fidrmuc, Jarko & Gundacker, Lidwina, 2017. "Income inequality and oligarchs in Russian regions: A note," European Journal of Political Economy, Elsevier, vol. 50(C), pages 196-207.
    • Handle: RePEc:eee:poleco:v:50:y:2017:i:c:p:196-207
    DOI: 10.1016/j.ejpoleco.2017.09.005
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    Cited by:

    1. Bruton, Garry & Sutter, Christopher & Lenz, Anna-Katharina, 2021. "Economic inequality – Is entrepreneurship the cause or the solution? A review and research agenda for emerging economies," Journal of Business Venturing, Elsevier, vol. 36(3).
    2. Sałach, Katarzyna & Brzeziński, Michał, 2022. "Political connections and the super-rich in Poland," Economic Systems, Elsevier, vol. 46(4).
    3. Berisha, Edmond & Gupta, Rangan & Meszaros, John, 2020. "The impact of macroeconomic factors on income inequality: Evidence from the BRICS," Economic Modelling, Elsevier, vol. 91(C), pages 559-567.
    4. Jakub Borowski & Jarko Fidrmuc & Krystian Jaworski, 2025. "Convergence, inequality and inflation synchronization: evidence from the Eurozone," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 52(3), pages 413-433, August.
    5. Lidwina Gundacker & Jarko Fidrmuc, 2017. "Oligarchs and social capital in Russian regions: a quantitative assessment," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 44(3), pages 509-527, August.
    6. El-Shagi, Makram & Fidrmuc, Jarko & Yamarik, Steven, 2020. "Inequality and credit growth in Russian regions," Economic Modelling, Elsevier, vol. 91(C), pages 550-558.
    7. repec:osf:socarx:u5qbd_v1 is not listed on IDEAS
    8. Diana Barros & Aurora A. C. Teixeira, 2021. "Correction to: Unlocking the black box: A comprehensive meta-analysis of the main determinants of within-region income inequality," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 41(1), pages 123-123, February.

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    Keywords

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    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • P25 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Urban, Rural, and Regional Economics
    • P31 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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