Экономическая сущность финансовых отношений в электроэнергетике
The article discusses the essence of financial relations within power industry. There are some distinctive features of the electricity that forced the scientific community to make efforts to examine and improve the financial aspects of electricity production, marketing and distribution.
The article also discusses the structure of the Russian power industry. Being both complex and partly monopolized industry, power industry faced a challenge in asset management and financial flows of energy companies.
Thus, the importance of development of financial relations in the electric power industry is obvious, being the cause of improving the national economy.
National Research University – Higher School of Economics (Moscow) and author has been researching the leasing market of Russia for 18 years. Particular attention in the article presents the dynamics that characterizes the development of market in the country by value of new contracts, the largest leasing portfolios, calculated author of segmental structure of the leasing market and regional structure. This article presents the results of the econometric analysis of the relationship of the value of new contracts with the amount of advances, terms of contracts and lease rate per cent. Exploring the structure of financing of leasing operations, the author has developed a new approach to determining leverage leasing projects.
The article deals with results of the scientific seminar on "Legal Aspects of the BRICS", held in St. Petersburg with the participation of law professors from universities in the BRICS countries. They are represented in the collection of articles with the same title. The author presents the conclusion about the necessity of comparative studies of legal systems of the BRICS countries for the successful cooperation in the framework of the BRICS group, notes the potential of a harmonization of the legal regulation of all spheres of cooperation, besides of the use of the international law.
The article examines trends in fundraising of small industrial enterprises in Russia. There is an analysis of existing financial instruments of state support of small industrial companies, advantages and disadvantages. Despite the fact that an active government policy the past few years has greatly improved the ability of small industrial companies to attract the necessary funding, an imbalance in the amount of financial support at various stages of company development was revealed.
The paper presents an opinion of one of the architectures of the «500 Days Reform» interviewed by the Editor- in-Chief, «ECO» Monthly. The author finds that the reform has not solved its key objective such as to increase the efficiency of our economy.
The article describes the definition of innovation. Its role in modern economy is considered. It describes sources and forms of financing innovation, indexes of R&D funding. The analysis of the dynamics of federal budget expenditures on science during 2000-2011 was carried out. Based on the following analysis the prediction of federal budget expenditures on science for 2012, 2013 and 2014 was made.
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.