Arbeitspapier

Financial Crisis, Economic Recovery and Banking Development in Former Soviet Union Economies

This paper explains both the onset of the financial crisis in 1998 and the striking economic recovery afterwards in Russia and other Former Soviet Union (FSU) economies. Before the crisis banks do not lend to the real sector of the economy and firms use non-bank finance, including trade credits and barter trade, to finance production. The banking failure arises due to the coexistence of adverse selection in a lemons credit market jointly with high government borrowing. The collapse of the treasury bills market in the financial crisis of August 1998 triggers a change in banks lending behavior. A strong economic recovery follows which provides initial conditions for banking development.

Sprache
Englisch

Erschienen in
Series: CESifo Working Paper ; No. 860

Klassifikation
Wirtschaft

Ereignis
Geistige Schöpfung
(wer)
Huang, Haizhou
Marin, Dalia
Xu, Chenggang
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
2003

Handle
Letzte Aktualisierung
10.03.2025, 11:45 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Huang, Haizhou
  • Marin, Dalia
  • Xu, Chenggang
  • Center for Economic Studies and ifo Institute (CESifo)

Entstanden

  • 2003

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