Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212547 
Authors: 
Year of Publication: 
2004
Series/Report no.: 
BOFIT Discussion Papers No. 17/2004
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
This paper provides micro and macroeconomic analysis of the economic role of banks in the Russian economy.Using a large panel containing Russian enterprises' balance sheet and income statement data, we evaluate the determinants of bank financing.Econometric model put out the existence of liquidity providing activity of Russian banks.Even though the overall liquidity provision system suffers from certain deficiencies, we demonstrate its importance in the macroeconomic context, using time series econometric analysis. Bank credit appears to be a significant factor in explaining the non-payment dynamics and use of informal financing.Finally, the uncertainty concept helps us to understand the reasons for a limitation of Russian banks in their liquidity providing role.
Subjects: 
liquidity
finance
transition
Russia
uncertainty
banks
inter-enterprise credit
JEL: 
D80
G21
Persistent Identifier of the first edition: 
ISBN: 
951-686-972-6
Document Type: 
Working Paper

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