Понять неформальное (О книге В. Л. Тамбовцева "Экономическая теория неформальных институтов")
This study identifies how country differences on a key cultural dimension—egalitarianism— influence the direction of different types of international investment flows. A society's cultural orientation toward egalitarianism is manifested by intolerance for abuses of market and political power and a desire for protecting the weak and less powerful actors. We show egalitarianism to be based on exogenous factors including social fractionalization, dominant religion circa 1900, and war experience from the 19th century era of state formation. Controlling for a large set of competing explanations, we find a robust influence of egalitarianism distance on cross-national investment flows of bond and equity issuances, syndicated loans, and mergers and acquisitions. An informal cultural institution largely determined a century or more ago, egalitarianism exercises its effect on international investment via an associated set of consistent contemporary policy choices. But even after controlling for these associated policy choices, egalitarianism continues to exercise a direct effect on cross-border investment flows, likely through its direct influence on managers’ daily business conduct.
Workshop concentrates on an interdisciplinary approach to modelling human behavior incorporating data mining and expert knowledge from behavioral sciences. Data analysis results extracted from clean data of laboratory experiments will be compared with noisy industrial datasets from the web e.g. Insights from behavioral sciences will help data scientists. Behavior scientists will see new inspirations to research from industrial data science. Market leaders in Big Data, as Microsoft, Facebook, and Google, have already realized the importance of experimental economics know-how for their business.
In Experimental Economics, although financial rewards restrict subjects preferences in experiments, exclusive application of analytical game theory is not enough to explain the collected data. It calls for the development and evaluation of more sophisticated models. The more data is used for evaluation, the more statistical significance can be achieved. Since large amounts of behavioral data are required to scan for regularities, along with automated agents needed to simulate and intervene in human interactions, Machine Learning is the tool of choice for research in Experimental Economics. This workshop is aimed at bringing together researchers from both Data Analysis and Economics in order to achieve mutually beneficial results.
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.