This paper provides micro and macroeconomic analysis of the economic role of banks in the Russian economy. Using a large panel containing Russian enterprises’ balance sheet and income statement data, we evaluate the determinants of bank financing. Econometric model put out the existence of...

The analysis of external economic relations of Russia reveals a paradox: while Europe is the main trade and direct investment partner of Russia, this is far from being the case concerning its currency’s role in Russia's financial activities. The dollar is much preferred by economic agents for...

The analysis of Russia's external economic relations reveals a paradox: while Europe is its main trade and direct investment partner, its currency's role in the Russian financial sphere is lower then that of the US $. This paper analyses this phenomenon by separating the currencies' use for...