Download or read book Russia s Financial Markets and the Banking Sector in Transition written by Jouko Rautava and published by . This book was released on 1996 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Download or read book Russia s Financial Markets and the Banking Sector in Transition written by Jouko Rautava and published by . This book was released on 1996 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Download or read book Russia written by Ruben Lamdany and published by World Bank Publications. This book was released on 1993 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recommends a strategy for reform of the Russian banking sector as part of an overall strategy to improve resource allocation in the economy. This study offers a three-to five-year strategy for making the banking sector in Russia more efficient in mobilizing financial savings, allocating resources, and processing payments. The strategy has three policy components: * Phasing out the Central Bank's direct credit programs þ currently the main instrument of monetary policy þ and replacing them with a discount window and limited budgetary subsidies for certain enterprises in key areas * Improving the commercial banking system through the International Standards Bank program, which will gradually phase in higher standards and regulations and encourage banks to adopt them voluntarily * Restructuring the large specialized banks (Rosselkhozbank, Sberbank, and Promstroibank), that now provide credit and other banking services to agriculture, households and small enterprises, and large state-owned enterprises. The study also recommends several high-priority improvements to Russia's financial infrastructure, including improvement of the legal framework, adoption of accounting and auditing standards, and overhaul of the payments system.
Download or read book RUSSIAN FINANCIAL TRANSITION THE DEVELOPMENT OF INSTITUTIONS AND MARKETS FOR GROWTH written by DAVID M KEMME and published by . This book was released on 2001 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Restructuring Stabilizing and Modernizing the New Russia written by Paul J.J. Welfens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia has embarked upon a difficult process of systemic transformation and economic opening up. While the initial strong GDP decline seemed to have ended in 1997, the real development was facing even more difficult problems as output declined sharply after the Ruble and banking crisis of August 1998: inflation started to increase again, exports and imports were falling, capital flight increasing and unemployment rising. There is broad disappointment in Russia regarding the transformation failure in 1998 since so many people had hoped that the end of the Soviet command economy would bring democracy, prosperity and international integration. While Poland has been able to double per capita income in the 1990s it has fallen by 50% in Russia and this despite considerable IMF involvement and some (modest) support from other international organizations. What were the reasons for transformation failure in the 1990s? What are the ingredients for long term sustainable transformation? What are the internal and international requirements to avoid a second - possibly tragic - failure of transformation in Russia? An international group of researchers has focussed on these problems during a two-year research project financed by the Alfried Krupp von Bohlen und Halbach Foundation. A series of papers were presented at workshops in Potsdam, Bonn and Moscow in 1999 where this book is devoted to four important issues: the Russian transformation crisis, the topic of restructuring, the need for stabilizing Russia and the requirements for modernizing Russia.
Download or read book Fixing Russia s Banks written by Michael S. Bernstam and published by Hoover Institution Press. This book was released on 2013-11-01 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fixing Russia's Banks documents how Russia's financial system is built on what Michael S. Bernstam and Alvin Rabushka call ersatz banks. These inferior imitation banks have served largely as tools of the government to redistribute public funds to favored firms. The highly vaunted achievements of privatization, removal of price controls, and foreign trade liberalization have failed to produce growth because of a lack of private financing. National income has declined nearly 40 percent since 1992, with no recovery in sight.
Download or read book Changes in the Russian Banking System written by Martin P. Kühle and published by diplom.de. This book was released on 1997-08-26 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inhaltsangabe:Abstract: This dissertation analyses the structural changes in the Russian banking system and gives insights into the current market situation. Starting with a review of theoretical aspects of banking in Western economies and the rationale for the existence of banks, the deficiencies of the former socialist banking system are exposed. A large section is dedicated to the special role of the banking system during the process of transition and to an evaluation of how far Russian banks rise to the challenges of these tasks. The historical process of reforming the central and commercial banking system is described, laying emphasis on the legislative changes and the means of supervision. The banking system in Russia has been dominated by rapid growth in the last three years due to high profit expectations. However, many banks granted credits to dubious industrial companies and now face a large amount of uncollectable assets in their credit portfolios. The analysis shows that with rising positive real interest rates and growing competition in the banking market, a large number of small and mediumsized banks will either have to admit bankruptcy or be acquired by expanding banks. The emerging interbank, bond and equity markets are illustrated with regard to the influence of banks. The deficiencies in settlement processes, liquidity, trading rules, and private and commercial law are examined. The next urgently required steps in the reform process are listed. The future progress of the Russian banking system however, is not only dependent on legal and structural changes in related financial and capital markets, but based on the critical assumption of peaceful, politically stable and socially balanced developments in Russia. Inhaltsverzeichnis:Table of Contents: AbstractIV 1.Introduction1 2.Theoretical Aspects of Banking 2.1Theory of Financial Intermidiation3 2.2Thr, Banking System in a Centrally Planned Economy7 2.3The Role of Banks in Russia's Transition to a Market Economy9 3.The Banking Refomis in Russia 3.1Russian Banking Legislation18 3.1.1The Independence of the Central Bank19 3.1.2The Commercial Banking Legislation23 3.2Russian Banking Supervision24 3.2.1The Licensing Process25 3.2.2Creditor Protection and Assessment of Reliability29 3.2.3Accounting and Audit33 4.The Financial Market Situation in Russia 4.1Russian Commercial Banks36 4.1.1The -Former Specialised Banks36 4.1.2The Ministerial Bank38 4.1.3Independent [...]
Download or read book Russia s Transition written by Alexander Kura and published by Nova Publishers. This book was released on 2001 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses and dissects the strategies of international institutions and donors to assist it in its economic and political transition to a market economy. Considerable detail is provided on the activities of the International Monetary Fund (IMF), the European Bank for Reconstruction, the World Bank, and the European Union in Russia. The book is based on a GAO Report that has been excerpted and augmented by explanatory commentary. A full subject index is provided.
Download or read book Russian Banking written by David Lane and published by Edward Elgar Publishing. This book was released on 2002 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: '...required reading for all who are seriously interested in the modern Russian economy.' - Pekka Sutela, Slavic Review Russian Banking considers the rise of commercial market-oriented banks in Russia, their links with government and non-financial companies and their role as intermediaries in the provision of finance for investment. The contributors explore the legacy of the Soviet past and current functions of the Russian banking system, contrasting these with those in other post-communist societies and describing peculiarities such as informal networks and corruption. The book also discusses the economic and global aspects of Russia's reform, focusing on financial crises, foreign depositors to Russian banks and the implications for Russian foreign debt. This up-to-date and comprehensive account of commercial banking in modern Russia will appeal to those concerned with the economics of transition or comparative banking. Political scientists and sociologists with an interest in forms of capitalism and the roles of banks will also find the book to be a fascinating read.
Download or read book Building Trust written by Michael Joseph Fuchs and published by World Bank Publications. This book was released on 2002-01-01 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Russia's economy has come a long way during its first ten years of transition to a market economy. This publication examines the progress made within the Russian financial sector to promote banking reforms in order to build trust in the stability of the marketplace. The problems and potential solutions identified will also be of relevance to the financial sector within other transition economies.
Download or read book Russia s Banking Sector Transition written by Andrei Vernikov and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper applies an analytical paradigm of institutional economics to the transition of the Russian banking sector, focusing on the interplay between ownership change and institutional change. We find that the state's withdrawal from commercial banking has been inconsistent and limited in scope. To this day, core banks have yet to be privatized and the state has made a comeback as owner of the dominant market participants. We also look at the new institutions imported into Russia to regulate banking and finance, including rule of law, competition, deposit insurance, bankruptcy, and corporate governance. The unfortunate combination of this new institutional overlay and traditional local norms of behavior have brought Russia to an impasse - the banking sector's ownership structure hinders further advancement of market institutions. Indeed, we may now be witnessing is a retreat from the original market-based goals of transition.
Download or read book Banking Sector of the Russian Federation written by Nikolay Sinilov and published by . This book was released on 2010 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this work is to provide a comprehensive overview of the state of banking system in Russia, and to understand its core dependencies and potential risks. The system, the way we find it now, has evolved though difficult transition from highly centralized and planned Soviet economy to government-sector dominated, commodity-focused market economy of today. Twenty years after Perestroika and the collapse of the Soviet Union, we find Russian version of "too big to fail" in majority control by the government of about 50% of assets of the banking sector through ownership in country's largest financial institutions. Large industrial and private banks that roamed the economy in the 90s all but disappeared, closed due to insolvency or absorbed by government banks. At the same time, close to 900 smaller private banks in the system together account for less than 7% of its total assets. Having reviewed the structure and key elements of the system, I continue with analysis of its concentrations and weaknesses. Here I focus on how Russia's dependence on commodity exports -specifically, oil industry - translates into strengths and weaknesses of the balance sheet of country's banking system and its leading banks. Currently, Russia is world's largest producer of crude oil. As much as 93% of Russian exports are commodity goods, primarily oil and gas (64% of total exports). As expected, we find returns of both government and private sectors highly dependent on oil exports. Little transparency exists regarding direct and indirect exposures of Russian banks to oil and gas industry clients and assets. However, this relationship can be observed indirectly by analyzing historical correlation between financial indicators and the oil price. Pooling data from multiple sources (IMF, Central Bank of Russia, BankScope, Bloomberg, S&P, etc.), I dedicate substantial part of this work to analyzing this relationship via correlation analysis of historical results and ratios. The analysis is organized in three tiers: stock market dependencies, aggregate industry results, and safety/ soundness indicators of the group of leading banks.
Download or read book Evolution of Monetary Policy Instruments in Russia written by Mr. Tomás J. T. Baliño and published by International Monetary Fund. This book was released on 1997-12-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the evolution of monetary policy in Russia, focusing on the period January 1992–December 1995. Special attention is given to the role of monetary policy instruments. Initially, policy was completely dominated by flows of credit from the Central Bank of the Russian Federation (CBR) to the budget, to enterprises, and to other republics in the ruble area. Over time these flows have been reduced and indirect monetary instruments have become key elements of monetary policy implementation
Download or read book Banks and Capital Markets in Russia written by Ben Slay and published by . This book was released on 2005 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Evolution of the Russian Saving Bank Sector During the Transition Era written by Martin A. Carree and published by . This book was released on 2010 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the 1988 banking reform in Russia there was an enormous increase in the number of (registered) commercial banks. The Russian savings bank sector went through a period of shakeout after the August 1995 interbank crisis. Large banks were able to expand their market shares in the deposits market as a result of scale advantages and advertising. Entrants unsuccessfully sought to gain market share by having high deposit rates.
Download or read book Bank based and Market based Financial Systems written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1999 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Transition in Europe and Central Asia written by Alexander Fleming and published by World Bank Publications. This book was released on 2001-01-01 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains 21 papers focusing on a wide range of issues concerning financial sector transition in the countries of Europe and Central Asia (ECA). It places the transition economies in the context of recent and prospective developments in global financial markets. This book also evaluates the experience of the last 10 years and reviews the progress from a command financial system to a market-based one, identifying some of the key characteristics of the financial transition.
