Only a successful implementation of an overall reform program will enable Russian banks to provide financial intermediation and assist in the country's development from a nascent market economy to a mature financial system. The chances for reform are better now than at any time during the last decade. Favorable political and economic conditions and a change in attitude among bank management have created an unusual window of opportunity. The paper analyzes the past performance of the Russian banking industry, evaluates the reform agenda of the monetary authority, and argues for an overall reform program in order to seize the available opportunity.
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Length: 47 pages Date of creation: 01 Aug 2003 Date of revision: Handle: RePEc:wdi:papers:2003-601
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Find related papers by JEL classification: G2 - Financial Economics - - Financial Institutions and Services P3 - Economic Systems - - Socialist Institutions and Their Transitions
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