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Regular version of the site

Book chapter

State-controlled «national champions»: Implications for empirical study of Russian banks’ efficiency and concentration

P. 494-503.
Vernikov A. V.

We assess the effects of state-controlled "national champions" on the concentration and efficiency of the Russian banking industry. Our main hypothesis is that the unusual findings of the empirical studies reflect a specific institutional structure of the Russian banking market, namely the dominant position of the state-controlled players who are essentially different institutions than other commercial banks. The novelty is that we offer an alternative view of the market structure in an industry dominated by state-controlled entities, namely by consolidating their market shares into a combined market share.