Soviet Banking, 1922–1987: An Analysis of Gosbank Balance Sheets

Yasushi Nakamura ()
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Yasushi Nakamura: International Graduate School of Social Sciences, Yokohama National University, Tokiwadai 79-4, Hodogaya-ku, Yokohama 240-8501, Japan.

Comparative Economic Studies, 2013, vol. 55, issue 1, 167-197

Abstract: Motivated by increased availability of monetary data, this study investigates the activity of the Soviet state bank (Gosbank). The analysis shows that the main financial source of Gosbank moved from state budget funds to household deposits in the early 1960s. After that, the expansion of bank financing was based on household deposits. This did not lead to a corresponding development of macroeconomic monetary management because of the lack of a financial market. Further research should be undertaken to quantitatively evaluate the macroeconomic efficiency of the use of bank funds.

Date: 2013
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