Academic seminar: The Politics of Bank Failures in Russia

12/9/2021 from 5:00 PM to 6:00 PM ISST

Kyiv School of Economics invites to attend an academic seminar "The Politics of Bank Failures in Russia" by Zuzana Fungacova, Bank of Finland.

The seminar will be held in English online via Zoom.

Date&Time: Thursday, December 09, 17:00 (Kyiv time).

Abstract. Russia has witnessed a high number of bank failures over the last two decades. We test the hypothesis that the number of bank failures decreases in the months preceding presidential elections. Employing monthly data on individual banks, we analyze the period 2002–2020, which spans four presidential elections, for evidence of a pre-election decrease in bank failures. We find that bank failures are less likely to occur in the twelve months leading up to an election. The probability of bank failure caused by financial troubles decreases more before elections than the probability of bank failure caused by illegal activities. Overall, our results indicate that the occurrence of bank failures is driven by political cycles in Russia.

About the speaker: Zuzana Fungáčová is a senior adviser at the Bank of Finland Institute for Economies in Transition (BOFIT) in Helsinki. She coordinates the research activities at BOFIT and is the editor of the BOFIT Discussion Paper Series. Zuzana earned a PhD in economics from Center for Economic Research and Graduate Education (CERGE-EI) in Prague.

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