Finance and Credit

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Finance and Credit

3(339) – 2009 January

Mechanisms of property transformation in banking sector in the context of financial crisis

Vol. 15, Iss. 3, JANUARY 2009

Available online: 20 August 2009

Subject Heading: Banking system

JEL Classification:

Novozhilova T.N. PhD, associate professor, head of the Department of the State and Municipal Finance of Volga-Vyatka Academy of Public Administration
t_novozhilova@mail.ru

Yarkin K.V. head of a department of Nizhny Novgorod branch of the bank Vozrozhdenie (JSC)
konstyarkin@mail.ru

The world financial crisis which burst out in the fall of 2008 made many countries reevaluate the real state and prospects of development of the banking sector. Banking structures of developed countries were the first to bear the brunt. Manifestation of crisis in the Russian banking sector differs to a certain extent from that of the western one, but as a whole, the problems are quite the same: credit default, liquidity decrease, outflow of investments and deposits and others. The measures taken on the state level have a direct effect on the ownership rights. The range of transformation mechanisms is wide: from property redistribution within the framework of the banking sector to banks nationalization. The transformations are wide-scale and rapid enough. The effects will manifest afterwards.

Keywords: financial crisis, property transformation

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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