Abstract
This chapter provides an extended commentary on how contemporary Russian fields of finance have become intertwined both with the state and with a new bifurcated ruling class of state and business elites. The elites of state and business fields use financial institutions and organizations for rent-seeking gain, rather than as a vehicle for profit from serving economic growth and the general population. This chapter also suggests that the political and media fields have been co-opted by state and business elites and drawn into the orbit of their fields: both media and democracy have created a quiescent, tamed population that, if not supporting the elite and their wealth, at least does not have means or expectations to resist the new political economy.
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Notes
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Financial Flows and Tax Havens: Combining to Limit the Lives of Billions of People (Centre for Applied Research, Norwegian School of Economics, 2015): 8 (http://www.gfintegrity.org/wp-content/uploads/2016/12/Financial_Flows-final.pdf), accessed October 24, 2017.
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https://www.moex.com/ru/ir/interactive-analysis.aspx (accessed March 18, 2018).
- 4.
“The Economist”: dollar dolzhen stoit 23 rublia.” Vesti.ru, January 11, 2016 (http://www.vesti.ru/doc.html?id=2706834), retrieved October 24, 2017.
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Ministry of Finance of the Russian Federation: http://info.minfin.ru/fbdohod.php.
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OECD data on inequality, https://data.oecd.org/inequality/income-inequality.htm (accessed October 24, 2017).
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Glavnaia kniga, http://glavkniga.ru/situations/k502289 (accessed October 24, 2017).
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Economy Times, http://economytimes.ru/sites/default/files/25-06-2016-doklad-ranhigs.pdf (accessed October 24, 2017).
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As of 2015, 64% of Google shares belong to this group: JPMorgan Chase & Co. 6.56%, Goldman Sachs Group 5.72%, Bank of America Corporation 6.2%, Berkshire Hathaway 8.68%, and Wells Fargo 5.99%. http://www.investopedia.com/articles/markets/011516/top-5-google-shareholders-goog.asp#ixzz4eUtO1wpT (accessed October 24, 2017).
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Bartenev, A. (2018). Fields of Russian Finance: State Versus Market. In: Hass, J. (eds) Re-Examining the History of the Russian Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-75414-7_12
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DOI: https://doi.org/10.1007/978-3-319-75414-7_12
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