Has Banks’ Financial Intermediation Improved in Russia?

The aim of this paper is to analyze the increasing importance of banks in the Russian economy over the period following the financial crisis of 1998. We use several measures to assess the role of banks in domestic financial intermediation in Russia. The traditional macro-level view is complemented by the analysis of sectoral financial flows as well as by insights from micro-level studies. All of these confirm that banks are becoming increasingly important in financial intermediation. We find that the scope and efficiency of intermediation by Russian banks has improved over time, but the level of banks’ financial intermediation still lags behind other countries with similar levels of income. Possible explanations for this include the dual nature of Russian financial system.Russia, banks, financial intermediation, financial system

Impact of the Global Crisis on Spatial Relationships in Russia

This paper seeks an answer to the question of whether the global crisis had a persistent effect on inter-regional income equality and spatial market integration in Russia. Results obtained suggest that the answer is generally negative

Oil and gas:a blessing for the few. Hydrocarbons and inequality within regions in Russia

Building on earlier work on regional inequality in Russia the article seeks to demonstrate that the regional oil and gas abundance is associated with high within-region inequality. It provides empirical evidence that hydrocarbons represent one of the leading determinants of an increased gap between rich and poor in the producing regions. The discussion focuses on a possible cluster of geographic, economic and political factors underlying the phenomenon

Crystallization and Polymorphism of Felodipine

Two previously known polymorphs (forms I and II) and two new polymorphs (forms III and IV) of the calcium-channel blocker felodipine were obtained during attempts to cocrystallize the compound with a variety of potential cocrystal formers. A correlation was observed between the polymorphic outcome and the effective pH value in the presence of the cocrystal former, and it was possible subsequently to produce the four polymorphs by pH adjustment using H₂SO₄(aq) or NaOH­(aq). This suggests that there is no distinct “structure-directing” role for the molecular additives present during the cocrystallization trials. The crystal structures of the new forms III and IV were determined using single-crystal X-ray diffraction. Forms I, II, and III were obtained in bulk form and characterized by a variety of analytical methods, including thermal analysis, solution calorimetry, intrinsic dissolution rate measurement, and solubility measurement. Form IV could be obtained only as a few isolated single crystals, and its crystallization could not be reproduced. On the basis of the measured thermochemical data and solubility studies, form I appears to be the thermodynamically most stable phase at ambient conditions, although the new form III is practically isoenergetic. Form II shows the highest solubility and intrinsic dissolution rate, consistent with the lowest thermodynamic stability. Forms I, II, and III are all monotropically related

Jens Finne Borchgrevink to Carl Linnaeus

Jens Finne Borchgrevink to Carl Linnaeu