Антитраст в условиях двусторонней монополии
The order of federal antimonopoly body is traditional means of struggle against antimonopoly law infringements. Recently the higher judicial instances (the Constitutional Court of the Russian Federation and the Supreme Arbitration Court of the Russian Federation) have taken part in discussion about the legal nature of the order to transfer the illegal income). Why have these bodies paid attention to the problem concerned? How to estimate their decisions on a problem of application of this order? These questions are being discussed by the author in the present article with the use of the judiciary practice and the legal doctrine.
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.