Russia: Planning for a Reimbursed Future
Drug reimbursement mechanisms - planned for future implementattion in Russia.
An analysis of the influence of the world economic and financial crisis on the development of the global pharmaceutical market is given as well as an estimation of the economic situation in the pharmaceutical field, forecasts of the scenarios of its development in the crisis and post-crisis period, and the measures for overcoming the consequences of the world economic crisis.
In the analytical material prepared by the Institute of public resource management, HSE, analyzed comparable from year to year indicators of budget spending by industry socio-cultural sphere. Used materials of the Ministry of Finance, Ministry of economic development of Russia, Federal Treasury, Federal state statistics service, Eurostat and analytical materials of the Institute of public resource management,HSE. The publication is aimed at a wide range of readers; researchers, University professors, representatives Federal and regional authorities, who in their professional activities interested in issues of development of the socio-cultural sphere, as well as students and postgraduates.
There is a common opinion in Russian business practice that writing business plans is an easy task with the help of COMFAR or Project Expert softwears, and it is not a big deal to compare different business plans once project financial summaries are available. However, one crucial issue is missing in such approach. Business-plan is an intellectual product, reflecting private investor interests, skills and experience. It is also a perishable product as its financial summaries are based on current economic assumptions. Tomorrow there will be new assumptions and accordingly new business plan summary is required. As such, private business implementation of modern technologies, best business practices and environment protection are among the most important criteria in state budget financing process but not a formal benchmarking of investment plans.
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.