Структурные или институциональные сдвиги? Попытка измерения на примере банковского сектора

The paper attempts measuring institutional change, taking the case of the Russian banking industry in 1991-2016. I put forward a set of metrics featuring the actors and the relevance of banking for the economy. At the first stage, the communist-era credit system falls apart, and so do coordination mechanisms between monetary and real sectors of the economy. After the 1998 crisis, evolution goes in the direction of greater government involvement in banks and centralized allocation of financial resources. Structural change has not yet led to a fully different modus operandi of the banking industry. The contribution of this paper is that it tackles the interplay between structural and institutional change in a particular economic sector.