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RISS 인기검색어
- 검색키워드
- 저자 : ( Victor Gorshkov ) (검색결과 2 건)
- 무료
- 기관 내 무료
- 유료
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State-permeated Banking Sector: Recent Trends in Russia's Banking
( Victor Gorshkov ) 한국비교경제학회 2020 비교경제연구 Vol.27 No.2
The role of the state in Russia’s banking has conventionally been rather significant and in fact it has expanded in recent years following the policies of the Bank of Russia that further strengthened the positions of state-controlled banks. This paper selectively not comprehensibly presents a short macroeconomic analysis of Russia’s banking sector and focuses on the multifunctional role of the state in the banking sector. The research outcomes showcase that government represented by the Bank of Russia is a weak promoter of the banking competition and a weak stimulating actor of Russia’s economy. On one hand, it remains a hypertrophied owner of the banking sector causing its enhanced nationalization and monopolization as the result of its recently implemented policies. However, on the other hand, the Bank of Russia can be definitely regarded as an effective regulator strengthening macroprudential control and supervisory functions via its ‘clearance campaign’ for the purpose of eliminating ‘banking holes’. The enhanced supervisory and regulatory functions of the Bank of Russia can be regarded as a positive sign as they help create healthy environment within the banking sector and aim to establish sound market discipline. However, in the long-run the level of state-permeation into the banking sector should be reconsidered as it poses risks for further market distortions and suppressing competition.
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Banking Outward Foreign Direct Investment: The Boundaries of Russia’s Pivot to Asia
Victor Gorshkov 한국비교경제학회 2018 비교경제연구 Vol.25 No.1
Following the negative external market conditions of 2014-17 after the imposition of Western sanctions over the Ukrainian crisis, Russian banks attempted to procure capital on the domestic market via reverse repurchase agreements and operations on the domestic bond market. Simultaneously, some banks considered the possibilities to attract cheap financing from new international capital markets in the Asian region. The study aims to evaluate whether any significant structural changes in the Russian outward banking foreign direct investment emerged in 2014-17 as the result of the pivot to the East proclaimed by the Russian government. Macro- and micro- analysis of the outward banking foreign direct investment showed that only a marginal number of Russian banks, comprising of large state-owned banks, banks closely related to the natural resource-type Russian multinational corporations, and large private banks, have the capacity to expand their operations abroad. While the increasing presence of the natural resource-type Russian multinational corporations in the Asian and African regions is slowly luring Russian banks into these markets, drastic structural changes in the outward banking foreign direct investment are unachievable in the short-term. The geographical distribution of Russian banks remains unchanged with offshore financial centers, Europe, and the Commonwealth of Independent States being the traditional destinations of Russian outward banking foreign direct investment. Thus, Russia’s East policy ambitions remain rather bounded.
KCI
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