How big is the visible hand of the state in the Russian banking industry?
AbstractThis paper tackles state participation in the Russian financial sector. We take the case of the banking industry to suggest criteria for a more accurate definition of public sector boundaries and an assessment of the actual scale of state presence in the national banking market. The approach for the assessment of the extent of state participation is based on the analysis of the peculiarity of the Russian banking industry due to the high extent and institutional specificity of government intervention in the financial system. The results presented in this paper provide evidence that the existing channels of state influence over banks are not limited to equity ownership with governance and other methods of control being employed as well and prove the hypothesis about the presence of downward bias in official estimates of the existing scale of state penetration.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 15563.
Date of creation: Jun 2009
Date of revision:
public sector; banks; Russia; ownership; state control; state-owned companies;
Find related papers by JEL classification:
- P35 - Economic Systems - - Socialist Institutions and Their Transitions - - - Public Finance
- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
- G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-06-17 (All new papers)
- NEP-CIS-2009-06-17 (Confederation of Independent States)
- NEP-PBE-2009-06-17 (Public Economics)
- NEP-TRA-2009-06-17 (Transition Economics)
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