Understanding Russian Banking. (Book Review).(Brief Article)

Professor Mikhail K. Lapidus Published by Mir House International Inc.

Dr. Lapidus states in the introduction to "Understanding Russian Banking" that Russian bankers have taken upon themselves the responsibility of acting as catalysts to achieve economic reconstruction. The purpose of this book is to offer a blueprint of their pioneering efforts of the past, and to provide an understanding of the work that still lies ahead.

The book begins with a brief history of banking from the October Revolution of 1917 to Perestroika in the 1980s. It then outlines the general structure of the banking hierarchy of Russia, and how it has changed from a totally government-controlled structure to one more closely resembling our own Western banking structure. Examples are provided of the activities of Russian banks, and three of the most prominent commercial banks in that country are introduced, using charts and graphs to depict their structures and activities. The book concludes with the more specific topics of Settlements (types of payments)--both internal and international, Market Securities, and the use of Clearing as a method of saving money.

This book is so comprehensive that it could be used as a resource for a college course in banking; and the author is, in fact a ...