IDEAS home Printed from https://ideas.repec.org/a/mes/jeciss/v47y2013i2p475-484.html
   My bibliography  Save this article

Evolution of the Banking System in the Russian Context: An Institutional View

Author

Abstract

We undertook an institutional analysis of commercial banks in Russia. After the failed experiment with private financial intermediation in the 1990s, Russia migrated towards a banking system consisting of three — rather than two — tiers and featuring core institutions controlled by the state directly or indirectly. This evolution is consistent with this country's historical pattern of financial intermediation. It is also in line with recent trends in the real sector of the economy, where public ownership has rebounded over the past decade. The core state-controlled banks have evolved into hybrid institutions, performing two various sets of functions: those of regular commercial banks and of policy banks. We found a similar evolution in China, but not in the transitional economies of central Europe. Institutional matrix theory suggests that, in non-market economies, centralized finance and credit allocation is the dominant institutional form, while private banking activity is complementary.

Suggested Citation

  • Svetlana Kirdina & Andrei Vernikov, 2013. "Evolution of the Banking System in the Russian Context: An Institutional View," Journal of Economic Issues, Taylor & Francis Journals, vol. 47(2), pages 475-484.
  • Handle: RePEc:mes:jeciss:v:47:y:2013:i:2:p:475-484
    DOI: 10.2753/JEI0021-3624470221
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.2753/JEI0021-3624470221
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Svetlana Kirdina, 2013. "Economic Policy For Real Sector And R&D Financing: Basic Institutional Models," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 9(4), pages 39-52.
    2. Vernikov, Andrei, 2014. "Сравнение Институциональной Структуры Банковских Систем России И Китая
      [Comparing the institutional structure of Russian and Chinese banking systems]
      ," MPRA Paper 64339, University Library of Munich, Germany.
    3. Kirdina, S., 2013. "Institutional Models of Real Sector Financing," Journal of the New Economic Association, New Economic Association, vol. 18(2), pages 129-155.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mes:jeciss:v:47:y:2013:i:2:p:475-484. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst). General contact details of provider: http://www.tandfonline.com/MJEI20 .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.