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on Confederation of Independent States |
| By: | Zuzana Fungacova (BOFIT, Bank of Finland); Laura Solanko (BOFIT, Bank of Finland); Laurent Weill (LaRGE Research Center, Université de Strasbourg) |
| Abstract: | The aim of this paper is to analyze bank competition in Russia by measuring the market power of Russian banks and its determinants over the period 2001-2007 with the Lerner index. Earlier studies on bank competition have focused on developed countries whereas this paper contributes to the analysis of bank competition in emerging markets. We find that bank competition has only slightly improved during the period studied. The mean Lerner index for Russian banks is of the same magnitude as those observed in developed countries, which suggests that the Russian banking industry is not plagued by weak competition. Furthermore, we find no greater market power for state-controlled banks nor less market power for foreign-owned banks. We would consequently qualify the procompetitive role of foreign bank entry and privatization. Finally, our analysis of the determinants of market power enables the identification of several factors that influence competition, including market concentration and risk as well as t the nonlinear influence of size. |
| Keywords: | Market power, bank competition, Russia. |
| JEL: | G21 P34 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:lar:wpaper:2010-09&r=cis |
| By: | Kumo, Kazuhiro |
| Abstract: | This paper describes population problems involved in the Russian Far East and Zabaikalye regions, and the nation as a whole. According to the analysis conducted by the author no notable population growth will emerge in the near future, therefore extensive development strategy can not be taken in planning regional economic projects. In this regard the current "Development Program for the Russian Far East and Zabaikalye" established recently is much to the point. |
| Date: | 2010–05 |
| URL: | http://d.repec.org/n?u=RePEc:hit:rrcwps:24&r=cis |
| By: | Zuzana Fungacova (BOFIT, Bank of Finland); Laurent Weill (LaRGE Research Center, Université de Strasbourg) |
| Abstract: | There has been a notable debate in the banking literature on the impact of bank competition on financial stability. While the dominant view sees a detrimental impact of competition on the stability of banks, this view has recently been challenged by Boyd and De Nicolo (2005) who see the reverse effect. The aim of this paper is to contribute to this literature by providing the first empirical investigation of the role of bank competition on the occurrence of bank failures. We analyze this issue based on a large sample of Russian banks over the period 2001-2007 and in line with the previous literature we employ the Lerner index as the metric of bank competition. Our findings clearly support the view that tighter bank competition enhances the occurrence of bank failures. The normative implication of our findings is therefore that measures that increase bank competition could undermine financial stability. |
| Keywords: | Bank competition, bank failure, Russia. |
| JEL: | G21 P34 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:lar:wpaper:2010-08&r=cis |
| By: | Oliver Falck (Ifo Institute for Economic Research at the University of Munich); Christina Guenther (Max Planck Institute of Economics, Evolutionary Economics Group; WHU- Otto Beisheim School of Management); Stephan Heblich (Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group); William R. Kerr (Harvard Business School, Entrepreneurial Management Unit) |
| Abstract: | We identify the impact of local firm concentration on incumbent performance with a quasi natural experiment. When Germany was divided after World War II, many firms in the machine tool industry fled the Soviet occupied zone to prevent expropriation. We show that the regional location decisions of these firms upon moving to western Germany were driven by non-economic factors and heuristics rather than existing industrial conditions. Relocating firms increased the likelihood of incumbent failure in destination regions, a pattern that differs sharply from new entrants. We further provide evidence that these effects are due to increased competition for local resources. |
| Keywords: | Agglomeration, competition, firm dynamics, labor, Germany |
| JEL: | R10 L10 H25 O10 J20 |
| Date: | 2010–06 |
| URL: | http://d.repec.org/n?u=RePEc:hbs:wpaper:10-112&r=cis |
| By: | Kseniia Ursulenko (Osteuropa-Institut, Regensburg (Institut for East European Studies)) |
| Abstract: | This paper presents an overview of Kazakhstan’s regional development based on a description of principal economic and social indicators. The focus is on administratively defined regions (oblasts) of Kazakhstan. The main goal pursued in this report is to examine specific features of socio-economic development in particular regions of the country |
| Date: | 2010–06 |
| URL: | http://d.repec.org/n?u=RePEc:ost:memopp:47&r=cis |