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Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-23101
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dc.contributor.authorHartwell, Christopher A.-
dc.contributor.authorKorovkin, Vladimir-
dc.date.accessioned2021-09-13T08:23:51Z-
dc.date.available2021-09-13T08:23:51Z-
dc.date.issued2021-
dc.identifier.issn1062-9769de_CH
dc.identifier.issn1878-4259de_CH
dc.identifier.urihttps://digitalcollection.zhaw.ch/handle/11475/23101-
dc.description.abstractDespite a history of autocratic and uneven governance, resulting in erratic development of key economic institutions, the financial sector in Russia has been a consistent bright spot in the country’s history. In particular, the banking sector thrived during the Tsarist era and, despite a long hiatus during communism, is now a developed and modern system similar to that in advanced economies. This paper examines the history of financial sector development in Russia, with an emphasis on the role of the banking sector in substituting for other institutional failings within the economy. In particular, we assert that bank deposits in Russia served as ersatz property rights in a low-quality institutional environment, representing an alternative institutional framework to the country’s consistently repressive governance. Using time-series techniques on banking data in Russia during its transition period, our econometric results show that deposits in the banking sector did in fact correlate strongly with declines in property rights, even after controlling for a host of plausible other explanations. We conclude that the persistence of bank deposits as the preferred financial instrument of consumers is because they provide incipient property rights when the Russian government refused (or was unable) to.de_CH
dc.language.isoende_CH
dc.publisherElsevierde_CH
dc.relation.ispartofThe Quarterly Review of Economics and Financede_CH
dc.rightshttp://creativecommons.org/licenses/by-nc-nd/4.0/de_CH
dc.subjectBankingde_CH
dc.subjectCointegrationde_CH
dc.subjectInstitutional qualityde_CH
dc.subjectProperty rightde_CH
dc.subject.ddc332.1: Bankende_CH
dc.titleContracting in a void : the role of the banking sector in developing property rights in Russiade_CH
dc.typeBeitrag in wissenschaftlicher Zeitschriftde_CH
dcterms.typeTextde_CH
zhaw.departementSchool of Management and Lawde_CH
zhaw.organisationalunitInternational Management Institute (IMI)de_CH
dc.identifier.doi10.1016/j.qref.2021.08.007de_CH
dc.identifier.doi10.21256/zhaw-23101-
zhaw.funding.euNode_CH
zhaw.originated.zhawYesde_CH
zhaw.pages.end127de_CH
zhaw.pages.start113de_CH
zhaw.publication.statuspublishedVersionde_CH
zhaw.volume82de_CH
zhaw.publication.reviewPeer review (Publikation)de_CH
zhaw.webfeedW: Spitzenpublikationde_CH
zhaw.author.additionalNode_CH
zhaw.display.portraitYesde_CH
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Hartwell, C. A., & Korovkin, V. (2021). Contracting in a void : the role of the banking sector in developing property rights in Russia. The Quarterly Review of Economics and Finance, 82, 113–127. https://doi.org/10.1016/j.qref.2021.08.007
Hartwell, C.A. and Korovkin, V. (2021) ‘Contracting in a void : the role of the banking sector in developing property rights in Russia’, The Quarterly Review of Economics and Finance, 82, pp. 113–127. Available at: https://doi.org/10.1016/j.qref.2021.08.007.
C. A. Hartwell and V. Korovkin, “Contracting in a void : the role of the banking sector in developing property rights in Russia,” The Quarterly Review of Economics and Finance, vol. 82, pp. 113–127, 2021, doi: 10.1016/j.qref.2021.08.007.
HARTWELL, Christopher A. und Vladimir KOROVKIN, 2021. Contracting in a void : the role of the banking sector in developing property rights in Russia. The Quarterly Review of Economics and Finance. 2021. Bd. 82, S. 113–127. DOI 10.1016/j.qref.2021.08.007
Hartwell, Christopher A., and Vladimir Korovkin. 2021. “Contracting in a Void : The Role of the Banking Sector in Developing Property Rights in Russia.” The Quarterly Review of Economics and Finance 82: 113–27. https://doi.org/10.1016/j.qref.2021.08.007.
Hartwell, Christopher A., and Vladimir Korovkin. “Contracting in a Void : The Role of the Banking Sector in Developing Property Rights in Russia.” The Quarterly Review of Economics and Finance, vol. 82, 2021, pp. 113–27, https://doi.org/10.1016/j.qref.2021.08.007.


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