Are oligarchs productive ? Theory and evidence

  title={Are oligarchs productive ? Theory and evidence},
  author={Yuriy Gorodnichenko},
Are Oligarchs Productive? Theory and Evidence This paper develops a partial equilibrium model to account for stylized facts about the behavior of oligarchs, politically and economically strong conglomerates in transition and developing countries. The model predicts that oligarchs are more likely than other owners to invest in productivity enhancing projects and to vertically integrate firms to capture the gains from possible synergies and, thus, oligarchs can be productive. Using a unique… CONTINUE READING