Banks and financial reform: their role in sustaining Russia’s growth
This paper charts key aspects of the expansion of Russia’s banking systems following the deep financial and currency crisis of 1998. It puts the growth of Russian banks into the context of the expansion of the financial system more broadly, and studies the impact of key regulatory reforms, in particular the full opening of the capital account in 2006. The role of bank credit in supporting Russia’s growth is assessed on the basis of industry specific trends in bank credit and investment. The paper concludes with a review of the impact of the ongoing disruptions in international credit markets on Russian banks, and provide an outlook on its likely impact on the nature of bank credit, and the structure of the banking system.
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- Vasily Astrov & Vladimir Gligorov & Peter Havlik & Mario Holzner & Gabor Hunya & Sebastian Leitner & Zdenek Lukas & Anton Mihailov & Olga Pindyuk & Leon Podkaminer & Josef Pöschl & Waltraut Urban & He, 2008. "The Big Boom Is Over, but Growth Remains Strong and Inflation Calms Down," wiiw Forecast Reports 2, The Vienna Institute for International Economic Studies, wiiw.
- Ekaterina Zhuravskaya, 2007. "Whither Russia? A Review of Andrei Shleifer's A Normal Country," Journal of Economic Literature, American Economic Association, vol. 45(1), pages 127-146, March.
- Peter Havlik, 2007.
"Structural Change and Trade Integration on EU–NIS Borders,"
wiiw Research Reports
340, The Vienna Institute for International Economic Studies, wiiw.
- Peter Havlik, 2007. "Structural Change and Trade Integration on EU-NIS Borders," FIW Working Paper series 003, FIW.
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