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The State in Russia's Banking Sector

Author

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  • Victor Gorshkov

    (Faculty of International Liberal Arts, Kaichi International University)

Abstract

Russia’s banking sector has increasingly become more nationalized and monopolized in recent years as the result of the Central Bank of Russia’s policies. In the present paper, we have demonstrated how policies of the Bank of Russia since 2013 have enhanced the level of nationalization and monopolization of Russia’s banking sector and have provided even more favorable conditions for state-controlled banks. The paper outlined the ‘clearance campaign’ of the Central Bank of Russia and summarized major disturbing trends, such as the increased amount of license revocations, the split within the Association of Russian banks, enhanced state support towards state-controlled banks, that are reshaping the institutional structure of Russia’s banking sector. The strengthening of supervisory and regulatory functions of the Bank of Russia can be viewed as a positive sign as they help create the healthy environment within the sector and aim to establish market discipline, however, current policies simultaneously cause significant market distortions and further suppress competition.

Suggested Citation

  • Victor Gorshkov, 2019. "The State in Russia's Banking Sector," KIER Working Papers 1015, Kyoto University, Institute of Economic Research.
    • Handle: RePEc:kyo:wpaper:1015
    as

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    File URL: http://www.kier.kyoto-u.ac.jp/DP/DP1015.pdf
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    References listed on IDEAS

    as
    1. World Bank, 2012. "World Development Report 2013 [Rapport sur le développement dans le monde 2013]," World Bank Publications - Books, The World Bank Group, number 11843, December.
    2. World Bank, 2012. "Global Financial Development Report 2013 : Rethinking the Role of the State in Finance," World Bank Publications - Books, The World Bank Group, number 11848, December.
    3. World Bank, 2012. "World Development Report 2012 [Rapport sur le développement dans le monde 2012]," World Bank Publications - Books, The World Bank Group, number 4391, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Russia; state; banking sector;
    All these keywords.

    JEL classification:

    • P29 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Other
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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