Sergey V. Mityakov
PhD Candidate
Department of Economics
University of Chicago
1126 East 59th Street
Chicago IL 60637
Email: smityako@uchicago.edu
Phone(cell): (773)931-9808
Research Interests
Financial Development, Economic Growth, Climate Change
Job Market Paper
Special Interests and Financial Liberalization: the Case of Mexico (2007) Financial liberalization is often believed to enhance growth. Yet in many cases a few powerful incumbents seem to capture most of the gains from the reform. In this paper I construct a model with endogenous formation of special interest groups which could reap most of the benefits of the financial liberalization. In particular, they lobby to limit entry by other firms, while taking advantage of improved borrowing opportunities. I then use the model to study the Mexican financial liberalization of 1988. Analysis of firm-level panel data on manufacturing plants reveals patterns suggested by the model. Specifically, large firms in more concentrated or in more “corrupt” sectors benefit more from the liberalization. In addition, domestically owned firms gain more than firms with foreign ownership. I also propose a new way to measure “corruption” at the industry level based on the Mexican 10% profit sharing rule.
Other Papers
Human Capital Externality and Taxation of Physical Capital Income (2005)
Oligarchy, Democratization and the “Brain Drain” (2002)
Work in Progress
Commercial vs Government Development Banks (joint with Juliano Assuncao and Robert Townsend)
Who Reports Income in Russia: Evidence form Microdata (2007) (joint with Serguey Braguinsky)
