Russian banking : The state makes a comeback?
The purpose of this paper is to carefully assess the size of public sector within the Russian banking industry. We identify and classify at least 78 state-influenced banks. For the state-owned banks, we distinguish between those that are majority-owned by federal executive authorities or Central Bank of Russia, by sub-federal (regional and municipal) authorities, by state-owned enterprises and banks, and by state corporations.. We estimate their combined market share to have reached 56% of total assets by July 1, 2009. Banks indirectly owned by public capital are the fastest-growing group. Concentration is increasing within the public sector of the industry, with the top five state-controlled banking groups in possession of over 49% of assets. We observe a crowding out and ero-sion of domestic private capital, whose market share is shrinking from year to year. Several of the largest state-owned banks now constitute a de facto intermediate tier at the core of the banking sys-tem. We argue that the direction of ownership change in Russian banking is different from that in CEE countries. Key words: Russian banks; transition; banking; state; government; public sector; state-owned banks; state-controlled banks; state-influenced banks JEL codes: G21, G28, P31, P43.
|Date of creation:||31 Dec 2009|
|Contact details of provider:|| Postal: Bank of Finland, BOFIT, P.O. Box 160, FI-00101 Helsinki, Finland|
Phone: + 358 9 183 2268
Fax: + 358 9 183 2294
Web page: http://www.bofit.fi/en/
More information through EDIRC
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.:
- A. Karas & K. Schoors & L. Weill, 2008.
"Are private banks more efficient than public banks? Evidence from Russia,"
Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium
08/519, Ghent University, Faculty of Economics and Business Administration.
- Karas, Alexei & Schoors, Koen & Weill, Laurent, 2008. "Are private banks more efficient than public banks? : Evidence from Russia," BOFIT Discussion Papers 3/2008, Bank of Finland, Institute for Economies in Transition.
- Alexei Karas & Koen Schoors & Laurent Weill, 2008. "Are private banks more efficient than public banks ? Evidence from Russia," Working Papers of LaRGE Research Center 2008-15, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
- Randall Morck & Lloyd Steier, 2005.
"The Global History of Corporate Governance: An Introduction,"
NBER Chapters,in: A History of Corporate Governance around the World: Family Business Groups to Professional Managers, pages 1-64
National Bureau of Economic Research, Inc.
- Randall K. Morck & Lloyd Steier, 2005. "The Global History of Corporate Governance: An Introduction," NBER Working Papers 11062, National Bureau of Economic Research, Inc.
- Vernikov, Andrei V., 2007. "Russia' banking sector transition : where to?," BOFIT Discussion Papers 5/2007, Bank of Finland, Institute for Economies in Transition.
- repec:hrv:faseco:30747188 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:bof:bofitp:2009_024. 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: (Minna Nyman)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.