What kind of 'financial safety net' for Russia? Russian Banking reform in comparative context
This article examines three current banking reform initiatives in Russia: the introduction of deposit insurance, the reform of prudential regulation and the adoption of measures intended to enhance the transparency of Russian banks. Together, they constitute the core elements of Russia's emerging 'financial safety net'—the package of policies and institutions aimed at ensuring the stability of the system and facilitating timely, efficient action to address incipient crises. These reforms are assessed in light of both the lessons found in the comparative literature on financial sector design and the peculiarities of Russia's institutional environment. The analysis suggests that Russia's current reforms are likely to avoid many of the pitfalls identified by the literature but also that they are likely to have a less dramatic impact than the authorities hope. As ever, much will depend on implementation of the reforms over time, which is likely to be contested.
Volume (Year): 16 (2004)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CPCE20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CPCE20|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Barth, James R. & Caprio, Gerard Jr. & Levine, Ross, 2004.
"Bank regulation and supervision: what works best?,"
Journal of Financial Intermediation,
Elsevier, vol. 13(2), pages 205-248, April.
- Barth, James R. & Caprio Jr., Gerard & Levine, Ross, 2001. "Bank regulation and supervision : what works best?," Policy Research Working Paper Series 2725, The World Bank.
- James R. Barth & Gerard Caprio, Jr. & Ross Levine, 2002. "Bank Regulation and Supervision: What Works Best?," NBER Working Papers 9323, National Bureau of Economic Research, Inc.
- Carmen M. Reinhart & Graciela L. Kaminsky, 1999.
"The Twin Crises: The Causes of Banking and Balance-of-Payments Problems,"
American Economic Review,
American Economic Association, vol. 89(3), pages 473-500, June.
- Graciela L. Kaminsky & Carmen M. Reinhart, 1996. "The twin crises: the causes of banking and balance-of-payments problems," International Finance Discussion Papers 544, Board of Governors of the Federal Reserve System (U.S.).
- Reinhart, Carmen & Kaminsky, Graciela, 1999. "The twin crises: The causes of banking and balance of payments problems," MPRA Paper 14081, University Library of Munich, Germany.
- William Tompson, 1998. "Russia's 'ministry of cash': Sberbank in transition," Post-Communist Economies, Taylor & Francis Journals, vol. 10(2), pages 133-155.
- Douglas W. Diamond & Raghuram G. Rajan, 1999.
"A Theory of Bank Capital,"
NBER Working Papers
7431, National Bureau of Economic Research, Inc.
- Djankov, Simeon & La Porta, Rafael & López-de-Silanes, Florencio & Shleifer, Andrei, 2001.
"The Regulation of Entry,"
CEPR Discussion Papers
2953, C.E.P.R. Discussion Papers.
- Djankov, Simeon & La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei, 2001. "The Regulation of Entry," Working Paper Series rwp01-015, Harvard University, John F. Kennedy School of Government.
- Simeon Djankov & Rafael La Porta & Florencio Lopez-de-Silanes & Andre Shleifer, 2000. "The Regulation of Entry," Harvard Institute of Economic Research Working Papers 1904, Harvard - Institute of Economic Research.
- Simeon Djankov & Rafael La Porta & Florencio LopezdeSilanes & Andrei Shleifer, 2000. "The Regulation of Entry," NBER Working Papers 7892, National Bureau of Economic Research, Inc.
- Djankov, Simeon & La Porta, Rafael & Shleifer, Andrei & Lopez de Silanes, Florencio, 2001. "The regulation of entry," Policy Research Working Paper Series 2661, The World Bank.
- Simeon Djankov & Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer, . "The Regulation of Entry," Working Paper 19462, Harvard University OpenScholar.
- Cull, Robert & Senbet, Lemma W & Sorge, Marco, 2005.
"Deposit Insurance and Financial Development,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 37(1), pages 43-82, February.
- Diamond, Douglas W & Dybvig, Philip H, 1983.
"Bank Runs, Deposit Insurance, and Liquidity,"
Journal of Political Economy,
University of Chicago Press, vol. 91(3), pages 401-19, June.
- Asli DemirgÃ¼Ã§-Kunt & Enrica Detragiache, 2000. "Does Deposit Insurance Increase Banking System Stability?," IMF Working Papers 00/3, International Monetary Fund.
- Aditya Narain & Pau Rabanal & Steen Byskov, 2003. "Prudential Issues in Less Diversified Economies," IMF Working Papers 03/198, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:taf:pocoec:v:16:y:2004:i:2:p:115-135. 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: (Michael McNulty)
If references are entirely missing, you can add them using this form.