Deposit Insurance and Banking Reform in Russia PDF Download

Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 23

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Author: Modibo Khane Camara
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 28

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Book Description
The objective of this paper is not to review the pros and cons of deposit insurance systems, but to focus, rather narrowly, on the recent adoption of a deposit insurance system (DIS) in Russia, the rationale offered, and the potential impact it might have on the stability and development of the Russian banking system. An attempt is made to draw some lessons from the implementation experience in Russia. The paper starts with a brief description of the Russian DIS, followed by an overview of the banking system's structure and some observations on the sequencing followed for adopting the DIS and the political economy of its adoption. It concludes with a discussion of areas requiring attention.

Author: Maria Mogilnaya
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
In late 2003 after two financial crises and many years of deliberation, the Russian Government introduced a deposit insurance scheme (DIS) aimed primarily at protecting the savings of the population. The DIS's stated objectives were to protect the right and legal interests of depositors, to strengthen public confidence in the banking system, and to encourage household savings. Recent official assessments of the scheme have been, at best, partial, have tended to use government statistics and have failed to establish a link between the banking sector outputs and the impact of the DIS. This thesis undertakes a detailed evaluation of the Russian DIS based on a comprehensive analysis of vast literature on deposit insurance schemes globally covering rationales for its establishment and its main features, as well as of the relevant Russian legislation and past attempts at evaluating the Russian DIS which were somewhat patchy. Adopting a cross-sectional, mixed methods approach, the study reports on the findings that emerged from a combination of surveys, interviews and observations conducted at six participating Russian banks in spring 2009. These were supplemented by documentary evidence from the banks and the Russian Deposit Insurance Agency. To facilitate the analysis and interpretation of the data, a theoretical framework was devised, and included a set of success criteria and impact indicators. The results of the analysis indicate that the Russian DIS does not appear to have fully achieved its stated objectives. Irrefutably, the Russian Government failed to establish an effective institutional and regulatory environment which could have enforced uniform provision of information about the DIS to retail depositors. This is evidenced by visible differences among bank practices in relation to the implementation of the DIS. Consequently, as a result of these variations in implementation, the retail depositors' understanding of the DIS and its perceived impact differs depending on which bank they patronise. This research provides a number of original theoretical, empirical, analytical and methodological contributions.

Author: Ruben Lamdany
Publisher: World Bank Publications
ISBN: 9780821327180
Category : Business & Economics
Languages : en
Pages : 74

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Book Description
Spanish edition (Experiencia de Asia Oriental). East Asian policies that fostered economic growth, reduced poverty, and raised living standards are the main theme of this cogent overview. Seven newly industrialized economies (NIEs) are described and compared. They are Hong Kong, Indonesia, Korea, Malaysia, Singapore, Taiwan, and Thailand. These country studies examine the macroeconomic policies common to NIEs. They review the highly flexible government interventions that succeeded in developing key industries and the more aggressive interventions that led to failure. The role foreign direct investment plays in producing dramatic growth is also discussed. Also available in English (ISBN 0-8213-2607-4) Stock No. 12607.

Author: Enrico C. Perotti
Publisher: Centre for Economic Policy Research
ISBN: 9781898128717
Category : Economic stabilization
Languages : en
Pages : 44

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Book Description
On 17 August 1998 Russia abandoned its exchange rate regime, defaulted on its domestic public debt and declared a moratorium on banks' foreign liabilities. This was equivalent to an outright default. The depth and speed of the Russian meltdown shocked the international markets and precipitated a period of serious financial instability. There are important lessons to be learned from this episode on issues of bank supervision and international stability. Enrico Perotti locates the underlying cause of the crisis in the structure of individual incentives in a context of capture of state decisions by special interests. The author concludes with a radical policy proposal for a stable banking system for Russia, based on a segmented, narrow banking sector, concentration on commercial banking and a cautious extension of deposit insurance.

Author: Michael Joseph Fuchs
Publisher: World Bank Publications
ISBN: 9780821351611
Category : Business & Economics
Languages : en
Pages : 386

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Book Description
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.

Author: Jacek Rostowski
Publisher: Central European University Press
ISBN: 9633865573
Category : Business & Economics
Languages : en
Pages : 242

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Book Description
This study analyzes the main requirements placed on Central and Eastern Europe's financial systems during their transition to a market economy. It assesses the financial reforms already carried out in the countries of Central Europe, their adaptations of Western institutional models, and the lessons to be drawn from their experiences for the "second wave" reformers in the former Soviet Union and the Balkans.

Author: Steve H. Hanke
Publisher: Routledge
ISBN: 1134863691
Category : Business & Economics
Languages : en
Pages : 260

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Book Description
As the new Russian state struggles with the transition to a market economy, the need for radical monetary reform becomes increasingly urgent. The choice of reform is crucial, for it will largely determine Russia's future economic performance. In order to break free of the lingering effects of Soviet central planning, the new Russian state needs a stable, convertible currency. Steve H. Hanke, Lars Jonung and Kurt Schuler propose that Russia establishes a currency board which would issue a Russian currency fully convertible with international currency, backed 100 per cent by international bonds. The international community would aid in establishing the currency board by providing the initial reserves. Early supplies of this new Russian currency would be distributed free to Russian citizens. The authors give detailed explanations of how the currency board could be established and how it would work.

Author: Lucy Chernykh
Publisher:
ISBN:
Category :
Languages : en
Pages : 48

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Book Description
This study examines how the introduction of deposit insurance affects depositors and banks, using the deposit-insurance scheme introduced into the Russian banking system as a natural experiment. The fundamental research question is whether the introduction of deposit insurance leads to a more effective banking system as evidenced by increased deposit-taking and decreased reliance upon State-owned banks as custodians of retail deposits. We find that banks entering the new deposit-insurance system increased both their level of retail deposits and their ratios of retail deposits to total assets relative to banks that did not enter the new deposit insurance system. These results hold up in a multivariate panel-data analysis that controls for bank- and time-random effects. The longer a bank had been entered into the deposit insurance system, the greater was its level of deposits and its ratio of deposits to assets. Moreover, this effect was stronger for regional banks and for smaller banks. We also find that implementation of the new deposit-insurance system had the effect of ldquo;leveling the playing fieldrdquo; between State-owned banks and privately owned banks. Finally, we find strong evidence of moral hazard following implementation of deposit insurance in the form of increased bank risk-taking. Financial risk and, to a lesser degree, operating risk increased following implementation.

Author: David Lane
Publisher: Edward Elgar Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 296

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Book Description
'...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.