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The emerging Russian banking system

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  • Andrew M. Warner

Abstract

Value-added in Russian banks grew by 43 "per cent" while GDP declined by 32 "per cent" in the early years of the transition in Russia. This paper offers explanations for the unusual success of the Russian banking sector and the determinants of individual bank performance. The evidence comes from balance sheet data for 563 Moscow banks and 160 regional banks on January 1, 1995 and January 1, 1996. Important factors include the Central Bank policy of channelling low-interest directed credits to state enterprises through banks, the ability of banks to obtain large-scale interest-free deposits, and the resulting high interest rate spreads in an environment of high inflation, and the extent to which banks were formerly part of the Soviet system. Copyright The European Bank for Reconstruction and Development, 1998.

Suggested Citation

  • Andrew M. Warner, 1998. "The emerging Russian banking system," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 6(2), pages 333-347, November.
  • Handle: RePEc:bla:etrans:v:6:y:1998:i:2:p:333-347
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0351.1998.tb00052.x
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    Cited by:

    1. Nadia Vanteeva & Charles Hickson, 2016. "The Effect of State-Private Co-partnership System on Russian Industry," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 48(3), pages 333-356, May.
    2. Weber Ralf L., 1999. "Währungs- und Finanzkrisen: Ursachen und Lehren für Transformationsländer," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 50(1), pages 371-404, January.
    3. Admiraal, P-H. & Carree, M.A., 2000. "Competition and Market Dynamics on the Russian Deposits Market," ERIM Report Series Research in Management ERS-2000-25-STR, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    4. Carree, Martin A., 2003. "A hazard rate analysis of Russian commercial banks in the period 1994-1997," Economic Systems, Elsevier, vol. 27(3), pages 255-269, September.
    5. Andrew Spicer & William Pyle, 2003. "Institutions And The Vicious Circle Of Distrust In The Russian Household Deposit Market, 1992-1999," William Davidson Institute Working Papers Series 2003-588, William Davidson Institute at the University of Michigan.
    6. David M. Kemme, 2000. "Russian Financial Transition: The Development of Institutions and Markets for Growth," William Davidson Institute Working Papers Series 455, William Davidson Institute at the University of Michigan.

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