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deepening integration of China into global financial markets and its move from an indirect bank-based system towards a direct …
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-financial economy and concludes that banking models in China and Russia are different. Since the time of that publication, the Russian … Speranskaya [1999], namely whether Russia really abandoned the Chinese path of state capitalism in the banking sector as opposed … non-banking financial institutions. Our main hypothesis is that the institutional models of banking in China and Russia …
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