The role of institutions in the Russian banking
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Tarih
2019
Yazarlar
Dergi Başlığı
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Cilt Başlığı
Yayıncı
İstanbul Bilgi Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Resmi ve gayri resmi kurallardan oluşan kurumlar, organizasyonların nasıl faaliyet gösterdiğini etkilemektedir. Gayri resmi kurallar zaman içerisinde kendi kendine oluşurken, resmi kuralların işleyişi, siyasi ve bürokratik desteğin varlığı halinde bir fayda sağlayabilmektedir. Bankacılık sektörü, ekonomide toplam geliri artıran üretken projelere fon sağlayan mekanizma olması nedeniyle ekonominin gelişimi için kritik önemdedir. Kurumlar, bankacılık sisteminin ne kadar verimli çalıştığım belirleyen temel etkenlerden biridir. Sovyet Sosyalist Cumhuriyetler Birliği'nin (SSCB) kurumları, kapitalist batı ülkelerdekinden önemli ölçüde farklılaşmaktaydı. Üretim araçlarında özel mülkiyetin var olmadığı bir ülkede, fonların dağılımının merkezi ekonomik planlarda önceden belirlenmiş ve üretimin tamamının kamu iktisadi teşebbüsleri tarafından gerçekleştiriliyor olması nedeniyle, bankalar sadece merkezi ekonomik planlarda yer alan emirleri yerine getiren ve kredi riski değerlendirmesi yapmaya ihtiyaç duymayan araçlardan ibarettiler. Bankacılık sektöründe düşük maliyetli mevduata ulaşmak veya düşük riskli kredileri verebilmek için bir rekabet bulunmuyordu. Tüm tasarruflar tek bir devlet bankasında tutuluyor, tüm kredi müşterileri, zararları devlet bütçesinden karşılanan kamu iktisadi teşebbüslerinden oluşuyordu. SSCB, bankacılık sisteminde rekabeti düzenleyecek, bankacılık sektörünün sağlıklı olmasını sağlayan kredi riski ölçümlerini yapacak, ödeme sistemlerinin verimliliğini ve güvenliğini artıran yasal ortamı oluşturacak kurumlara sahip değildi. Bu tür kurumların yokluğu, Sovyet sonrası dönemdeki Rus bankacılık sisteminin gelişimine olumsuz etki etmiştir. Bu çalışmanın amacı, tanımlayıcı metotlarla, Sovyet Rusya'nın kurumlarının ve komünist sistemden kapitalizme kontrolsüz geçişin, SSCB'nin dağılmasının ardından Rus bankacılık sisteminin gelişimini olumsuz etkilediğini göstermektir. Bu çalışmada, söz konusu etkileri açıklamak için rekabet, mülkiyet hakları, yetenek ve bilginin edinimi ile ekonomik aktörlerin algılarının değişimine ilişkin kurumlara vurgu yapmak suretiyle North'un kurumsal çerçevesi kullanılmaktadır.
The institutions, consisting of formal and informal rules, affect how the organizations function. While the informal rules evolve over time, the functioning of formal rules is benefıcial when there is political and bureaucratic support for them. The banking sector is crucial for the economy to develop since it is the mechanism that supplies productive projects with necessary funds, contributing to the total income of the economy. The institutions are one of the main determinants of how efficiently the banking system operates. The institutions of the Union of the Soviet Socialist Republics (USSR), differed vastly from those of the capitalist western countries. Since the distribution of the funds were already determined in the central economic plans and all of the production was undertaken by the state enterprises, where private property on the means of production did not exist, banks were a mere tool of executing the orders written in the central planning with no need for credit assessment. There was no competition for deposits with low cost nor loans with low default risk in the banking sector in the USSR. All the household savings were held at one state bank, all the credit holders were state enterprises, whose losses were compensated from the state budget. The USSR lacked the institutions to form a legal environment to regulate competition for the banking system, to assess credit risks to ensure the soundness of the banking system, to increase the efficiency and the security of the payment systems. Lack of such institutions adversely affected the development of the post-Soviet Russian banking system. The aim of this study is to show, with a descriptive method, that the institutions of the Soviet Russia and uncontrolled transition from the communist system to capitalism had adversely affected the development of the Russian banking system after the collapse of the USSR. The study employs North's new institutional framework to explain those effects, with a special emphasis on the formation of the institutions for competition, the property rights, the acquisition of skills and knowledge and the change in the perception of the economic agents.
The institutions, consisting of formal and informal rules, affect how the organizations function. While the informal rules evolve over time, the functioning of formal rules is benefıcial when there is political and bureaucratic support for them. The banking sector is crucial for the economy to develop since it is the mechanism that supplies productive projects with necessary funds, contributing to the total income of the economy. The institutions are one of the main determinants of how efficiently the banking system operates. The institutions of the Union of the Soviet Socialist Republics (USSR), differed vastly from those of the capitalist western countries. Since the distribution of the funds were already determined in the central economic plans and all of the production was undertaken by the state enterprises, where private property on the means of production did not exist, banks were a mere tool of executing the orders written in the central planning with no need for credit assessment. There was no competition for deposits with low cost nor loans with low default risk in the banking sector in the USSR. All the household savings were held at one state bank, all the credit holders were state enterprises, whose losses were compensated from the state budget. The USSR lacked the institutions to form a legal environment to regulate competition for the banking system, to assess credit risks to ensure the soundness of the banking system, to increase the efficiency and the security of the payment systems. Lack of such institutions adversely affected the development of the post-Soviet Russian banking system. The aim of this study is to show, with a descriptive method, that the institutions of the Soviet Russia and uncontrolled transition from the communist system to capitalism had adversely affected the development of the Russian banking system after the collapse of the USSR. The study employs North's new institutional framework to explain those effects, with a special emphasis on the formation of the institutions for competition, the property rights, the acquisition of skills and knowledge and the change in the perception of the economic agents.
