Долгосрочное банковское кредитование: какие банки им занимаются и почему?

We study the determinants of longer-term bank lending to the real economy in Russia. Our empirical results confirm the «development view» of state-controlled banks who display the highest propensity to lend long-term. We control for such variables as cost of funding and the market power in the corporate loan market. The share of long-term loans in bank assets would benefit from a lower average cost of funds and a diversification of funding sources, as well as larger average size of banks, higher capital adequacy and a less risky lending policy.