Journal of Economic Perspectives: Vol. 19 No. 1 (Winter 2005)


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The Role of Oligarchs in Russian Capitalism

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Guriev, Sergei, and Andrei Rachinsky. 2005. "The Role of Oligarchs in Russian Capitalism." Journal of Economic Perspectives, 19(1): 131-150.

DOI: 10.1257/0895330053147994


Using a unique dataset, we describe the degree of ownership concentration in Russian economy and its role in shaping economic and political institutions in Russia. In particular, we find that Russian "oligarchs" do control a substantial part of the economy. 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. The oligarchs seem to run their firms more efficiently than other Russian owners controlling for industry, region and size.

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Guriev, Sergei
Rachinsky, Andrei


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