Issue 2 (83)
| REGIONAL FINANCIAL CENTERS OF THE RUSSIAN EMPIRE IN THE SECOND HALF OF THE 19TH CENTURY AND THE EARLY 20TH CENTURY | |||
|---|---|---|---|
| Year | 2024 | Number | 2(83) |
| Pages | 82-92 | Type | scientific article |
| UDC | 94(47)“18” | BBK | 63.3(2)522 |
| Authors | Salomatina Sofya A. |
Topic | REGIONAL DEVELOPMENT OF THE RUSSIAN ECONOMY IN RETROSPECTIVE |
| Summary | This study addresses the hierarchy of financial centers in the Russian Empire, which are evaluated via the volume of lending and money settlements in commercial banks. The study is based on balance sheet statistics of commercial banks for 1874, 1897, and 1913 as well as statistics on transfers between branches of the State Bank of the Russian Empire for 1868, 1878, 1888, and 1898. The settlements between these branches are visualized on geographical maps. The study proves that only St. Petersburg and Moscow had the status of national financial capitals, and they had a significant share of the financial system. In the Russian Empire, there were a few regional financial centers that always reached the top ten by sum of lending and number of transfers: Odessa, Kiev, Riga, Rostov-on-Don, and Kharkov. Warsaw and Nizhny Novgorod were close to making this list, although they do not meet all the criteria used in the present study. The hierarchy of smaller regional financial centers was volatile due to variance in the rates of regional development. However, the share of metropolitan and large regional centers gradually decreased due to the growth of operations in many ordinary regional centers. Thus, an important trait of Russian financial development was not the concentration of credits and settlements in the leading centers but rather their diversification across an increasing number of regional centers, which is undoubtedly a sign of the increasing influence of the financial system on the economic development of the empire. | ||
| Keywords | commercial banks, bank lending, bank transfers, interregional payments, commodity-money flows, financial capitals, regional financial centers, geoinformation analysis, State Bank, Russian Empire | ||
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