Investigation of Collusion in Procurement of One Russian Large Buyer
The article discusses a recent antitrust case brought against Russian manufacturers of large diameter pipes (LDPs) that aimed to investigate supposed collusive practices that contradicted the law ‘On the Protection of Competition’, which prohibits market sharing and restricting production.The Russian competition agency (FAS) confirmed the infringement under Article 11 of the law ‘On the Protection of Competition’, but at the same time exempted companies from liability under Article 13, which allows applying rule of reason to agreements which promote efficiency.We presume the infringement charge was based on weak substantial evidence standards. The case under consideration illustrates the importance of investigating the institutional details when qualifying the actions of market participants and their effects.The analysis of the evidence in this case indicates that the nature of cooperation between pipe manufacturing companies and OJSC Gazprom, namely indicative planning, may be explained from the perspective of reducing contract risk in an environment characterized by large-scale investment.
The paper is about Russian practice of introducing a leniency program. In the article authors examine the history of changes to the norms governing the exemption from liability for participating in cartel agreements and the characteristics of competition policy in Russia, which objectively hinder the effectiveness of the program.
Many antitrust cases in Russia continue to be a challenge for the assessment of competition policy. The question is that the impact of several antitrust decisions is rather questionable because of poor legal and economic proceeding. In fact, one of the key factors of the antitrust enforcement quality is the way of decision making by the judges in antitrust cases. This project proposal investigates the factors, affecting final antitrust cases results as the key element of the competition policy’s tools in Russia – antitrust regulation. Using a unique dataset of the appeals of infringement decisions from 2008-2012 this paper empirically examines the impact of competition policy instruments on national economy; development of the criteria for evaluating the effectiveness of antitrust policy; analysis of data on facts influencing the final court decision of antitrust investigations against Russian companies.
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.