Effectiveness of micro- and macroprudential measures in 2014–2022 in Russia: Endogenous treatment effects estimation

Maria S. Lymar () and Henry I. Penikas ()
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Maria S. Lymar: Bank of Russia, Moscow, Russia
Henry I. Penikas: Bank of Russia, Moscow, Russia

Russian Journal of Economics, 2025, vol. 11, issue 2, 168-196

Abstract: The objective of the current work is to estimate to what extent support measures of the Bank of Russia and the Government of the Russian Federation promoted financial stability of banks and the financial market overall so to sustain lending economy-wide during the crisis periods of 2014, 2020, and 2022. These measures mutually assured the financial stability of the institutions and enabled them to extend lending within the economy for RUB 8 trillion in 2022 (~$100 billion, or 8%+ of the total loan book), of which Bank of Russia measures contributed to RUB 4.3 trillion of the total, the Government of Russia — to RUB 2.0 trillion, while the synergy was RUB 1.7 trillion.

Keywords: banking; regulation; microprudential; measures; macroprudential; measures; capital; adequacy; ratio; treatment; effects; supervisory; bank; data. (search for similar items in EconPapers)
JEL-codes: C31 C32 C58 E51 E58 G18 G21 G28 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:arh:jrujec:v:11:y:2025:i:2:p:168-196

DOI: 10.32609/j.ruje.11.144107

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