Построение динамических индексов банковского кризиса
The article offers a complex indicator of financial intensity. The author considers the results of creation of this indicator for the banking sector of Russia. The bases of the construction of this indicator are the growth rates of individual indicators of banking activities that are associated with implementation of various banking risks: liquidities, credit risk, decrease in capitalization, external shocks. The offered indicator fixed the increased financial intensity at the end of 2013 — beginning of 2014.
Analyzing the reasons of financial crises in the book «The Black Swan» N.N. Taleb concludes that modern economic models badly describe reality for they are not able to forecast such crises in advance. We tried to present processes on stock exchange as two random processes one of which happens rather often (regular regime) and the other one - rather rare. Our answer is that if regular processes are correctly recognized with the probability a bit higher than 1/2, this allows to get positive average gain. We believe that this very phenomenon lies in the basis of unwillingness of people to expect crises permanently and to try recognizing them.
ФИНАНСОВЫЕ КРИЗИСЫ, биржа, пуассоновский процесс, financial crises, Stock exchange, Poisson processes
In this article we describe a system allowing companies to organize an efficient inventory management with 40 suppliers of different products. The system consists of four modules, each of which can be improved: demand planning, inventory management, procurement planning and KPI reporting. Described system was implemented in a real company, specializing on perishable products totaling over 600 SKUs. The system helped the company to increase its turnover by 7% while keeping the same level of services.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.