«Национальные чемпионы» в структуре российского рынка банковских услуг

Vernikov, Andrei (2012): «Национальные чемпионы» в структуре российского рынка банковских услуг. Published in: Voprosy ekonomiki No. 3 (March 2013): pp. 94-108.

Abstract

We assess the effects from the industrial policy of growing state-controlled national champions on the Russian banking system, its concentration and competitiveness. Some light is shed on comparative financial performance of state-controlled banks versus other market participants. We also show that direct stare ownership is being replaced by indirect ownership and control. The period of observations spreads from 2000 through 1Q 2012. We modify the method of calculating the indicators of market concentration to reflect public ownership of the core market players. As a result of this modification, most market segments cross the threshold of high concentration (HHI ≥ 0.25), whereas household deposits market becomes close to monopoly. Supremacy of public banks enhances their market power and enables collecting rent that boosts profitability. In terms of institutional dynamics, we find a growing similarity between the Russian case and the evolution of the Chinese banking industry.

• Item Type: MPRA Paper
• English Title: National champions and the competitive structure of the Russian banking market
• Language: Russian
• Keywords: Russia; state-owned banks; public sector; industrial policy; national champions; market structure; concentration; Herfindahl-Hirschman Index
• Subjects: L - Industrial Organization > L1 - Market Structure, Firm Strategy, and Market Performance > L13 - Oligopoly and Other Imperfect Markets; G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation; G - Financial Economics > G2 - Financial Institutions and Services > G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages

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