Leonid I. Borodkin and Gregory Perelman
- Published in print:
- 2011
- Published Online:
- September 2011
- ISBN:
- 9780199603503
- eISBN:
- 9780191729249
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199603503.003.0005
- Subject:
- Business and Management, Business History
The first section of the chapter describes the role of St. Petersburg as a financial centre of Russian Empire. Major “continental” style banks, presence of a stock exchange, and proximity of ...
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The first section of the chapter describes the role of St. Petersburg as a financial centre of Russian Empire. Major “continental” style banks, presence of a stock exchange, and proximity of all-powerful Russian government provided the necessary conditions for the city to become the focal point of Russian finance. Second section describes the history of St. Petersburg Stock Exchange from its founding in the early 18th century as commodities exchange through to the early 20th century when it became the main stock exchange of the Empire. The last section of the chapter fills a gap in the study of Russian financial markets by constructing a stock index of leading industrial companies traded on the St. Petersburg Exchange in 1897–1914. One of the surprising findings is an intermediate peak, which the index reached in 1905, a period generally considered to be one of crisis and stagnation in Russia.Less
The first section of the chapter describes the role of St. Petersburg as a financial centre of Russian Empire. Major “continental” style banks, presence of a stock exchange, and proximity of all-powerful Russian government provided the necessary conditions for the city to become the focal point of Russian finance. Second section describes the history of St. Petersburg Stock Exchange from its founding in the early 18th century as commodities exchange through to the early 20th century when it became the main stock exchange of the Empire. The last section of the chapter fills a gap in the study of Russian financial markets by constructing a stock index of leading industrial companies traded on the St. Petersburg Exchange in 1897–1914. One of the surprising findings is an intermediate peak, which the index reached in 1905, a period generally considered to be one of crisis and stagnation in Russia.
Modibo K. Camara and Fernando Montes-Negret
- Published in print:
- 2008
- Published Online:
- August 2013
- ISBN:
- 9780262042543
- eISBN:
- 9780262271462
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262042543.003.0009
- Subject:
- Economics and Finance, Econometrics
This chapter reviews the Russian banking market and the Russian deposit insurance system (DIS) and market evolution from the moment of its adoption. The risks of the adoption are taken into account ...
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This chapter reviews the Russian banking market and the Russian deposit insurance system (DIS) and market evolution from the moment of its adoption. The risks of the adoption are taken into account within the Russian context. This chapter also explores the reforms that have taken place in order for Russia to be able to create an effective deposit insurance system. It discusses the role of the Central Bank of Russia (CBR) in these reforms, where it is suggested that strengthening the CBR’s monitoring and enforcement capabilities would have been an advisable first step before introducing a DIS. However, as is seen in Russia, DIS can produce positive impacts on financial sector stability. This does not conclude, however, that it is a “silver bullet” by itself. It’s suggested that the market structure and the regulatory environment are what determined the positive effects of deposit insurance.Less
This chapter reviews the Russian banking market and the Russian deposit insurance system (DIS) and market evolution from the moment of its adoption. The risks of the adoption are taken into account within the Russian context. This chapter also explores the reforms that have taken place in order for Russia to be able to create an effective deposit insurance system. It discusses the role of the Central Bank of Russia (CBR) in these reforms, where it is suggested that strengthening the CBR’s monitoring and enforcement capabilities would have been an advisable first step before introducing a DIS. However, as is seen in Russia, DIS can produce positive impacts on financial sector stability. This does not conclude, however, that it is a “silver bullet” by itself. It’s suggested that the market structure and the regulatory environment are what determined the positive effects of deposit insurance.
Kathryn E. Stoner
- Published in print:
- 2021
- Published Online:
- February 2021
- ISBN:
- 9780190860714
- eISBN:
- 9780190054571
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780190860714.003.0004
- Subject:
- Political Science, European Union, Russian Politics
This chapter looks at the Russian economy as a means of international power projection. It refutes the idea that it is a clear brake on Russia under Putin’s global ambitions. Although the Russian ...
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This chapter looks at the Russian economy as a means of international power projection. It refutes the idea that it is a clear brake on Russia under Putin’s global ambitions. Although the Russian economy is still far too dependent on oil and gas revenues, there has been some modest diversification, and it has grown slowly even under sanctions imposed since 2014 by the United States and Europe. Still, there has been too little investment in the development of new technologies and in Russian higher education, and too often state enterprises are used as instruments in Russian foreign policy under Putin’s autocracy.Less
This chapter looks at the Russian economy as a means of international power projection. It refutes the idea that it is a clear brake on Russia under Putin’s global ambitions. Although the Russian economy is still far too dependent on oil and gas revenues, there has been some modest diversification, and it has grown slowly even under sanctions imposed since 2014 by the United States and Europe. Still, there has been too little investment in the development of new technologies and in Russian higher education, and too often state enterprises are used as instruments in Russian foreign policy under Putin’s autocracy.
