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...

The paper tries to measure institutional change in the banking industry, taking the case of Russia 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 as do coordination...