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Ownership concentration in Russian industry

  • Sergei Guriev

    ()

    (New Economic School/CEFIR and CERP)

  • Andrei Rachinsky

    ()

    (CEFIR)

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.

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Paper provided by Center for Economic and Financial Research (CEFIR) in its series Working Papers with number w0045.

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Length: 29 pages
Date of creation: Oct 2004
Date of revision:
Handle: RePEc:cfr:cefirw:w0045
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