Новый этап развития экономики в постсоветской России
This paper puts forth a comprehensive set of measures to address the current economic crisis, prevent its further aggravation and ensure sustained and ongoing development of the Russian economy. In this study we seek to adopt the viewpoint of common sense and keep free from political and ideological bias. This is why we believe the proposed solutions should be implemented by any reasonable government irrespective of its political coloration. This text presents our vision of the Russian economy and its problems.
The article is devoted to analysis of discursive practices of public representation and discussion of the political course of “modernization” announced by president Dmitry Medvedev. It is focused at interpretations of the idea of modernization by the leading Russian politicians as well as at the role of the notions about collective past, present and future in its ideological justification and contestation.
In the article we study the reasons and character of economic growth in Russia in the beginning of the XXI-st century. The analysis of the features of economic development is a key to understanding of depth of modern crisis in Russia. This article exhibits institutional preconditions for an overcoming the crisis and acceleration of economic growth.
The article is dedicated to fiscal incentives for business angels. Business angel, a comparatively new phenomenon in Russia, is defined in the first part of the article. The second part is a research of fiscal incentives intended for private investors in order to encourage them to support small innovative enterprises. The research is based on European and North American experience. Finally, the third part suggests the ways of creating a system of fiscal incentives for business angels in Russia.
Strong distinction between contractual claims and claims arising out of bilateral investment treaties (BIT) exists in modern investment disputes resolution. This distinction has a practical importance when the competence of international tribunal to decide the claim is in question, because investment contract and BIT contain different dispute resolution provisions. The common mechanism of dealing with this conflict is introduction of umbrella clause in the particular BIT. Umbrella clause is the clause lifting the breach of contract between investor and host state to the level of breach of BIT between this state and investor’s home country. The role of umbrella clauses in international investment law and the issue of competence conflicts arising of them are analyzed in this article.
Nature abhors a "vacuum" - the new power elite arrives at the time of major social and political transformations and endeavours to shore up its position within the country and obtain support from outside. New power groups, which are active at times of revolution and who replace, push aside or even depose the old elites and impose their own control over the state machine and position themselves as new power elite.There are themselves not immune to social transformation, especially in the first decades of coming to their new commanding role. Unless its claims are given legitimacy it is unable to implement its positive programme, which it immediately claims as the national programme. Every country "acquires" a new functioning elite - political, financial and intellectual - from revolution or a change of regime. The old elite may lose control and depart or upon luck may merge into a new combination of social strata of particular country. We also believe that the composition and the structure of elites is the country-specific and reflect one’s country history.
This book seeks to “re-think democracy.” Over the past years, there has been a tendency in the global policy community and, even more widely, in the world’s media, to focus on democracy as the “gold standard” by which all things political are measured. This book re-examines democracy in Russia and in the world more generally, as idea, desired ideal, and practice. A major issue for Russia is whether the modernization of Russia might not prosper better by Russia focusing directly on modernization and not worrying too much about democracy. This book explores a wide range of aspects of this important question. It discusses how the debate is conducted in Russia; outlines how Russians contrast their own experiences, unfavourably, with the experience of China, where reform and modernization have been pursued with great success, with no concern for democracy; and concludes by assessing how the debate in Russia is likely to be resolved.
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.