FACTORS OF THE NEW INSTITUTIONAL ENVIRONMENT FORMATION IN THE BANKING SPHERE

Abstract

The following factors have played the leading role in the formation of the new institutional environment in the banking sector: first, the import of foreign formal institutions, as the pre-revolutionary tradition was lost; second, dependence on the previous direction of development, which is expressed in the impact over the modern Russian banking system by the credit system formed under the conditions of centralized planned economy; third, a larger, than in developed western countries, significance of formal institutions for the banking system development, which is based on the Russian mentality.

Keywords

• institutional environment
• institutional structure
• financial market
• state regulation
• banking system
• credit system
• economic policy