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State Capture and Controlling Owners of Firms

  • Evgeny Yakovlev

    (CEFIR)

  • Ekaterina Zhuravskaya

    ()

    (New Economic School/CEFIR and CEPR)

How does the effect “state capture” depend the identity of the captor? We use a dataset on preferential treatment of selected firms by regional legislature and regulatory agencies in transitional Russia to show that the most effective and the least benign captors are “federal oligarchs” i.e., the firms within groups that have representation in more than two regions. Preferential treatments given to the federal oligarchs bring them higher than average benefits in terms of performance boost. Other firms in the region suffer more from capture by the federal oligarchs than when capture is carried out by other firms. In contrast, firms that are controlled by large regional owners do not have a strong effect of preferential treatments on either their own performance or performance of other regional firms.

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Paper provided by Center for Economic and Financial Research (CEFIR) in its series Working Papers with number w0044.

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Length: 37 pages
Date of creation: Jun 2004
Date of revision:
Handle: RePEc:cfr:cefirw:w0044
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  1. Glaeser, Edward & Scheinkman, Jose & Shleifer, Andrei, 2003. "The injustice of inequality," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 199-222, January.
  2. Besley, Timothy J. & Coate, Stephen, 2000. "Elected Versus Appointed Regulators: Theory And Evidence," CEPR Discussion Papers 2381, C.E.P.R. Discussion Papers.
  3. Gene M. Grossman & Elhanan Helpman, 1992. "Protection For Sale," NBER Working Papers 4149, National Bureau of Economic Research, Inc.
  4. Sonin, Konstantin, 2003. "Why the rich may favor poor protection of property rights," Journal of Comparative Economics, Elsevier, vol. 31(4), pages 715-731, December.
  5. Cai, Hongbin & Treisman, Daniel, 2004. "State corroding federalism," Journal of Public Economics, Elsevier, vol. 88(3-4), pages 819-843, March.
  6. Hellman, Joel S. & Jones, Geraint & Kaufmann, daniel, 2000. ""Seize the state, seize the day": state capture, corruption, and influence in transition," Policy Research Working Paper Series 2444, The World Bank.
  7. Sonin, Konstantin, 2010. "Provincial protectionism," Journal of Comparative Economics, Elsevier, vol. 38(2), pages 111-122, June.
  8. Shleifer, Andrei & Vishny, Robert W, 1994. "Politicians and Firms," The Quarterly Journal of Economics, MIT Press, vol. 109(4), pages 995-1025, November.
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