Discovering the Core of the Russian Interbank Market


  • Marije Sluiskes University College Roosevelt



Interbank market, Russia, core-periphery model, financial market stability.


This paper investigates to what extent the structure of the Russian interbank market over the period 1998-2004 can be described by applying the core-periphery model as defined by Craig and von Peter (2014), using a greedy algorithm. It finds that the fit is significant, although the error score of 54 percent is relatively high compared to earlier studies which applied this core-periphery model to more mature interbank markets. Additionally, this paper finds that the fit of the core-periphery model deteriorates as loan maturity increases. Finally, this paper concludes that a bank can also be classified as belonging to the core by
doing a probit regression on a single balance sheet variable.

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How to Cite

Sluiskes, M. (2018). Discovering the Core of the Russian Interbank Market. Student Undergraduate Research E-Journal!, 4.



Social Sciences & Economics