Depositor vigilance in the immediate aftermath of Russia's 1998 crisis: education, media freedom and Sberbank as a repository of trust
AbstractIn the immediate aftermath of Russia’s 1998 crisis household depositors withdrew money from the insolvent and state-owned Sberbank, despite its unique protection by two explicit government guarantees and its reputation of a repository of trust. This was less the case in well-educated, older, more conservative and remote regions and more so in wealthy, entrepreneurial and central regions, enjoying more media freedom. Survey data confirm that access to free media like NTV turns depositors more vigilant about their banks. Well educated people’s better understanding turns them less likely to run on Sberbank but more likely to run on other banks.
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Bibliographic InfoPaper provided by Ghent University, Faculty of Economics and Business Administration in its series Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium with number 12/780.
Length: 29 pages
Date of creation: Mar 2012
Date of revision:
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