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| Author: | Braguinsky, S. Myerson, R. |
| Title: | A macroeconomic model of Russian transition |
| Journal: | Economics of transition
2007 : VOL. 15:1, p. 77-107 |
| Index terms: | transition economies growth property rights credit models Russia |
| Language: | eng |
| Abstract: | This paper presents a model in which capital assets can only be owned by members of a relatively small politically connected elite (as:'the oligarchs'), each member of which faces a given risk of being expropriated. Investigated are the implications of such an imperfection of property rights for the transition to a market economy. |
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