Abstract
In 1999, the Studies on Russian Economic Development published an article by T. Speranskaya who compares the Russian model of banking with the Chinese one [1]. The author looks at government banking and the relevance of banks for the non-financial economy and concludes that banking models in China and Russia are different. Since the time of that publication, the Russian government has increased its presence in the credit system as regulator, strategic planner and service provider. The authorities have pursued the industrial policy aimed at nurturing a few “national champions” [2] and increased the degree of interference in the lending decisions of banks. The new evidence suggests reverting to the question raised by T. Speranskaya, namely whether Russia really abandoned the Chinese path of state capitalism in the banking sector as opposed to the industrial sectors. We look for typological similarity or dissimilarity between the two banking systems. The object of the study is restricted to commercial banks, leaving beyond the scope of analysis development or “policy” banks and non-banking financial institutions.
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This research was supported by the Russian Foundation for Humanities, project No. 14-02-00422.
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Vernikov, A.V. Comparing the banking models in China and Russia: Revisited. Stud. Russ. Econ. Dev. 26, 178–187 (2015). https://doi.org/10.1134/S1075700715020136
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DOI: https://doi.org/10.1134/S1075700715020136