Optimal Institutional Structure of Competition Authorities Under Reputation Maximization: A Model and Empirical Evidence from the Case of Russia
We contribute to the debate on the optimal structure of Competition Authorities (CAs), a debate of particular relevance in younger developing country jurisdictions. We propose a model of a reputation-maximizing CA in which reputation is increasing with enforcement success. This predicts that generalist CAs will focus on decisions in activities with low probability of annulment and low investigation and litigation costs and that this could be detrimental to welfare (relative to the more balanced activity portfolio of specialist CAs). We use a data set of appealed decisions of the Russian CA to provide an empirical support for the model’s assumptions and predictions.
The subject matter of the article lies between public law and economics. The article contains sources of legal regulation in state corporations, ways of their forming, jurisdiction, priorities and results of its activities achieved in western democracies. The author stresses the dependence of effectiveness of this public law institute on checks and balances as well as individual responsibility, responsibility for doings and refraining from doing by authorities, reputation of officials.
We estimate efficiency scores for Russian universities based on data set of input and output criteria by using Data Envelopment Analysis. In addition, we use a reputation index as another indicator of a university’s productivity. To construct it, 4000 contexts are analyzed and 13 reputation criteria are found. The threshold procedure is used to aggregate them into a reputation indicator. Factors which lead a university to be efficient are studied.
Dr. Frédéric Jenny is the Renaissance man of competition policy. As an economist, scholar, judge and enforcer, he has helped transform the landscape of global competition enforcement. In the first volume of this Liber Amicorum, distinguished members of both Bar and Bench, as well as academics from around the world, come together to bear testimony to his international achievements. This collection of 21 articles celebrates Dr. Jenny’s career thus far, and also explores other timely and topical areas of competition law and policy.
The article is devoted to analysis of concepts reputation and reputation management in conditions of modern Russian political reality. The author tries to determine positions of reputation communications in political sphere of Russia, which have a goal of social trust (base of strong civil society) development.
Australia took over the responsibility for coordinating the G20 work from Russia, accepting the rotating presidency of the forum on December 1, 2013. Most commentators argue that the Russian presidency was a success in terms of strengthening G20’s institutional framework, its legitimacy and effectiveness.
G20 leaders met in St. Petersburg under the trying economic conditions. Sluggish global growth, persisting imbalances and downside economic risks demanded that the forum concentrates its efforts on developing and adopting a set of measures aimed at boosting strong, sustainable and balanced growth, along with job creation, around the world. Similarly to the previous summits, these traditional priorities constituted the core of the Russian G20 presidency agenda.
The Russian presidency managed to ensure a proper balance between its national interests and the partners’ priorities, utilizing the G20 capabilities to respond to the key global governance challenges. Сonsolidating members’ efforts to address core economic and financial issues, the G20 also launched its work on such risks as increasing income disparities, chronic underinvestment in the safe and secure modern infrastructure, unforeseen negative consequences of regulation.
The notions of crowdsourcing and reputation are compared. It is shown that crowdsourcing may be a significant factor influencing reputation formation of various social players; in strategic perspective it allows to build a new model of social interaction.
This article discusses work that is part of a larger project intended to explore the importance of values in a wide variety of contexts. The project addresses three broad questions about values. First, how are the value priorities of individuals affected by their social experiences? That is, how do the common experiences people have, because of their shared locations in the social structure, influence their value priorities? And, how do individuals’ unique experiences affect their value priorities? Second, how do the value priorities held by individuals affect their behavioral orientations and choices? That is, how do value priorities influence ideologies, attitudes, and actions in the political, religious, environmental, and other domains?
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.