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Main Characteristics of the Development and Structure of the Russian Financial and Bank System at Various Levels of Modern Development (1999-2012)

Author

Listed:
  • Alexey Vedev

    (Gaidar Institute for Economic Policy)

Abstract

Evolution of the Russian bank system separates into several stages in the aftermath of the 1998 systemic crisis. Each of the stages is characterized by different external parameters and direct strategies of implementation: monetary policy, funds borrowing, financial markets development. At each of the stages structure of the institutional financial flows was changing. Analysis of the development stages of the Russian economy and its financial sphere is presented not only and not so much in the context of evolution description. Each of the stages represents economic development model ( however, far from a full one). Main issue is the selection of the economic development model for Russia in the current decade. Economic development ideally should be accompanied by not structural disproportions nut, on the contrary, improvement of the structure of institutional financial flows envisaging ability of the national financial system promote sustainable development and counteract external shocks.

Suggested Citation

  • Alexey Vedev, 2014. "Main Characteristics of the Development and Structure of the Russian Financial and Bank System at Various Levels of Modern Development (1999-2012)," Working Papers 119, Gaidar Institute for Economic Policy, revised 2015.
    • Handle: RePEc:gai:wpaper:119
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    More about this item

    Keywords

    Russian economy; financial system; bank system; economic development;
    All these keywords.

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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