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.

Keywords: промышленная политика, Россия, Russia, market structure, public sector, государственный сектор, state-controlled banks, банки, контролируемые государством, industrial policy, national champions, индекс Херфиндаля-Хиршмана, index Herfindahl-Hirschman, структура рынка и конкуренция

In book

XIV Апрельская международная научная конференция по проблемам развития экономики и общества: в 4-х книгах. Книга 1

М.: Издательский дом НИУ ВШЭ, 2014.