The politics of bank failures in Russia

Zuzana Fungáčová, Alexei Karas, Laura Solanko and Laurent Weill

No 7/2022, BOFIT Discussion Papers from Bank of Finland Institute for Emerging Economies (BOFIT)

Abstract: Russia has witnessed a high number of bank failures over the last two decades. Using monthly data for 2002-2020, spanning four election cycles, we test the hypothesis that bank failures are less likely before presidential elections. We find that bank failures are less likely to occur in the twelve months leading up to an election. However, we do not observe election cycles in bank failures are more pronounced for banks associated with greater political costs. Overall, our results provide mixed evidence that political cycles matter for the occurrence of bank failures in Russia.

Keywords: bank failure; election; Russia (search for similar items in EconPapers)
JEL-codes: D72 G21 P34 (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-cis, nep-pol and nep-tra
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: The politics of bank failures in Russia (2023)
Working Paper: The Politics of Bank Failures in Russia (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofitp:bdp2022_007

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