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- W3123783042 abstract "We investigate whether lending by the dominant Russian state bank, Sberbank, contributed to Vladimir Putin’s ascent to power during the presidential elections of March 2000. Our hypothesis is that Sberbank corporate loans were used as incentives for managers at private firms to mobilize employees to vote for Putin. In line with our proposed voter mobilization mechanism, we find that the growth of regional corporate Sberbank loans in the months before the presidential election is related to the regional increase in votes for Putin and to the regional increase in voter turnout between the Duma election of December 1999 and the presidential election of March 2000. The effect of Sberbank firm lending on Putin votes is most pronounced in regions where the governor is affiliated with the regime and in regions with extensive private employment. The effect is less apparent in regions with a large part of their population living in single-company towns, where voter intimidation is sufficient to get the required result. Additional robustness checks and placebo regressions confirm the main findings. Our results support the view that additional Sberbank corporate loans granted prior to the March 2000 presidential election facilitated Putin’s early electoral success." @default.
- W3123783042 created "2021-02-01" @default.
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- W3123783042 date "2019-01-01" @default.
- W3123783042 modified "2023-09-27" @default.
- W3123783042 title "Politics And Banking In Russia: The Rise Of Putin" @default.
- W3123783042 hasPublicationYear "2019" @default.
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