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The case of deposit insurance introduction in Russia may suggest that institutional change in post-socialist economies was partly driven by subjective factors, and the choice of imported institutions was rather random. The circumstances under which explicit deposit insurance emerged in Russia...
Persistent link: https://www.econbiz.de/10012897658
Drawing on the merit goods concept developed by Richard A. Musgrave, this paper introduces the notion of quasi-merit goods. The criteria of eligibility for merit goods are vague. A quasi-merit good constitutes a special case where government protection and sponsorship are obtained via public...
Persistent link: https://www.econbiz.de/10013244313
The paper examines the Russian experience with explicit deposit guarantee. Some of the effects that this institution has produced in Russia are typical and well-researched by previous authors, namely moral hazard, adverse selection, and erosion of discipline. The social cost paid for having an...
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