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The role of state in the banking industry: Evidence from Russia
Desenvolvimento em debate. 2015. Vol. 3. No. 2. P. 29-45.
Vernikov A. V.
The article examines the role of the state in the Russian banking industry.
Vernikov A. V., Eurasian Geography and Economics 2012 Vol. 53 No. 2 P. 250-266
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by ...
Added: May 15, 2012
Vernikov A. V., / IWH - Halle Institute for Economic Research. Series "IWH Discussion Papers". 2011. No. 13.
State-controlled banks are currently at the core of financial intermediation in Russia. This paper aims to assess the magnitude of government banking, and to reveal some of its special features and arrangements. We distinguish between directly and indirectly state-controlled banks and construct a set of bank-level statistical data covering the period between 2000 and 2011. ...
Added: September 3, 2012
Vernikov A. V., Studies on Russian Economic Development 2015 Vol. 26 No. 2 P. 178-187
We look for typological similarity or dissimilarity between the banking systems of China and Russia. In both countries we have identified a multitier and hierarchically organized system of commercial banks headed by several institutions under direct control of the government. These core state-controlled banks combine commercial banking with development banking. The difference between the Chinese ...
Added: March 18, 2015
Vernikov A. V., Проблемы прогнозирования 2015 № 2(149) С. 108-120
В журнале ИНП РАН «Проблемы прогнозирования» в 2009 г. была опубликована статья Т.С. Сперанской, в которой сопоставлено присутствие государства и механизмы финансирования реального сектора экономики России и Китая и сделан вывод: модели развития банков в этих странах разные. За последние несколько лет в России произошел рост государственного присутствия в кредитной сфере в качестве регулятора, органа ...
Added: April 27, 2015
Vernikov A. V., Mamonov M. E., Деньги и кредит 2015 № 7 С. 21-32
The paper examines cot efficiency of various Russian banks over 2005-2013. We amend the method of computation of comparative cost efficiency within stochastic frontier analysis (SFA). Namely, we control for the polluting effect of the revaluations of foreign currency items on bank balance sheet and the revaluation of securities, in order to focus on essential ...
Added: July 24, 2015
Vernikov A. V., / UCL SSEES Centre for Comparative Economics. Series "Economics Working Paper". 2014. No. 130.
We use statistical data from 2000 to 2013 to compare the macro-level structure and the core institutions of the banking systems in China and Russia. ...
Added: October 2, 2014
Mikhail Mamonov, Vernikov A. V., / Bank of Finland Institute for Economies in Transition. Series DP "BOFIT Discussion Papers". 2015. No. 22/2015.
This paper considers the comparative efficiency of public, private, and foreign banks in Russia, a transition economy with several unusual features. We perform stochastic frontier analysis (SFA) of Russian bank-level quarterly data over the period 2005–2013. The method of computation of comparative cost efficiency is amended to control for the effect of revaluation of foreign ...
Added: August 11, 2015
Vernikov A. V., / Social Science Research Network. Series "SSRN Working Paper Series". 2013. No. 2223686.
This paper tries to assess some of the effects from industrial policy of growing state-controlled "national champions" in the Russian banking industry. We look at market concentration and competitiveness and average bank efficiency. A modified method of calculating the indicators of market concentration suggests that main segments of the market have crossed the threshold of high ...
Added: February 25, 2013
Andrei Vernikov, / Высшая школа экономики. Series MAN "Management". 2013. No. WP BRP 12/MAN/2013.
This paper aims to add to the literature on the connection between corporate governance and company valuation. We refer to the case of Russian banks to suggest that this connection cannot be established in a convincing way due to data scarcity. ...
Added: June 6, 2013
Mikhail Mamonov, Vernikov A. V., / Высшая школа экономики. Series FE "Financial Economics". 2015. No. 46.
This paper adds to the literature on banking in transition with regard to the comparative efficiency of public, private and foreign banks. We perform stochastic frontier analysis (SFA) of Russian bank-level quarterly data from 2005 to 2013. The method of computation of comparative cost efficiency is amended to control for the effect of the revaluations ...
Added: June 15, 2015
Vernikov A. V., / University Library of Munich. Series "Munich Personal RePEc Archive". 2010. No. 21373.
This paper uses the banking industry case to show that the boundaries of public property in Russia are blurred. A messy state withdrawal in 1990s left publicly funded assets beyond direct reach of official state bodies. While we identify no less than 50 state-owned banks in a broad sense, the federal government and regional authorities ...
Added: September 3, 2012
Vernikov A. V., Деньги и кредит 2014 № 11 С. 20-28
На базе статистических данных за 2000-2013 гг. сопоставляется макро-архитектура и институциональные характеристики банковских систем России и Китая, прежде всего состав и структура. ...
Added: February 20, 2015
Vernikov A. V., / Social Science Research Network. Series "SSRN Working Paper Series". 2015. No. 2600738.
The paper suggests a classification of Russian commercial banks for the purposes of empirical analysis. While most of the literature on comparative bank performance in transition identifies three broad categories of banks (state, domestic private and foreign), in the Russian case it may be proper to consider separately the core state-controlled banks that jointly account ...
Added: May 1, 2015
Vernikov A. V., / University Library of Munich. Серия "Munich Personal RePEc Archive". 2012. № 40236.
Мы пытаемся оценить эффект от промышленной политики по выращиванию в России государственных банков – «национальных чемпионов» на степень концентрации и конкуренции. Затрагиваются вопросы сравнительной эффективности банков разной формы собственности и замены прямой государственной собственности на опосредованные формы владения. Период наблюдений – с 2000 по 1-й квартал 2012 г. Модифицировав способ расчёта двух основных показателей концентрации, ...
Added: September 3, 2012
Vernikov A. V., / Social Science Research Network. Series SSRN "Working Paper Series". 2014. No. 2474554.
We use statistical data from 2000 to 2013 to compare the macro-level structure and the core institutions of the banking systems in China and Russia. Our main hypothesis is that, differences in the absolute size and socio-cultural features notwithstanding, these two systems are typologically similar. We consider the institutional structure, the market structure and concentration, ...
Added: August 1, 2014
Vernikov A. V., / НИУ ВШЭ. Серия WP1 "Институциональные проблемы российской экономики". 2014. № 4.
We use statistical data for the period 2000-2013 to compare the macro-level structure and the core institutions of the banking systems in China and Russia. ...
Added: November 17, 2014
Vernikov A. V., / Институт экономики РАН. Серия "Научные доклады Института экономики РАН". 2014.
We use statistical data for the period 2000-2013 to compare the macro-level structure and the core institutions of the banking systems in China and Russia. ...
Added: September 26, 2014
Karminsky A. M., Kostrov A., Murzenkov T., / Высшая школа экономики. Series FE "Financial Economics". 2012. No. WP BRP 06/FE/2012.
Under the Basel II accord, improving probability of default models is a key risk-management priority. There are four main aspects of this research: suggesting the bank default classification; using a wide time horizon (quarterly Russian banking statistics from 1998 to 2011); investigating the macroeconomic and institutional characteristics of the banking sector environment and finally, testing ...
Added: December 10, 2012
Vernikov A. V., Journal of Corporate Finance Research 2013 No. 3(27) P. 23-36
The paper aims to add to the literature on the connection between corporate governance and company valuation. We refer to the case of the Russian banks to suggest that connection between gpvernance and the stock price cannot be established in a convincing way due to data scarcity. Russia's stock market can supply sufficient statistical material ...
Added: November 16, 2013
Karminsky A. M., Rybalka A., Шевченко Е. А., Российский журнал менеджмента 2018 Т. 16 № 1 С. 95-108
The successful activities of any commercial organization, in particular the bank, are based on a
clear corporate financial architecture: an effective financial strategy and corporate governance
system (relationship management, board of directors and shareholders). CEO is the main representative
of the bank and a reflection of its success or failure in the market. In this regard
there is a ...
Added: April 3, 2018
Mamonov M. E., Vernikov A. V., / Social Science Research Network. Series "SSRN Working Paper Series". 2015. No. 2574667.
This paper adds to the literature on banking in transition with regard to the comparative efficiency of different bank groups. We conclude that, to prevent the distoring effect of currency and securities revaluations, a refined definition of bank revenue is proper in comparative bank efficiency computations for countries with substantial volatility in financial markets. ...
Added: March 7, 2015
Kirdina S., Vernikov A. V., Journal of Economic Issues 2013 Vol. 47 No. 2 P. 475-484
We undertook an institutional anbalysis of commercial banks in Russia. After the failed experiment with private financial intermediation in the 1990s, Russia migrated towards a banking system consisting of three -- rather than two -- tiers and featuring core institutions controlled by the state directly or indirectly. This evolution is consistent with this country's historical ...
Added: May 28, 2013
Vernikov A. V., Problems of Economic Transition 2014 Vol. 57 No. 4 P. 3-25
This article assesses the effect of Russia's industrial policy with respect to the growth of the "national champion" state banks on concentration and competition in 2000-2010. ...
Added: October 2, 2014
Vernikov A. V., / НИУ ВШЭ. Series WP1 "Институциональные проблемы российской экономики". 2007. No. 02.
The Working Paper examines peculiarities of the Russian model of corporate governance and control in the banking sector. The study relies upon theoretical as well as applied research of corporate governance in Russian commercial banks featuring different forms of ownership. We focus on real interests of all stakeholders, namely bank and stock market regulators, bank ...
Added: April 2, 2013