Article
Влияние силовых групп интересов на производительность экономики в недемократических режимах
The article considers the relationship between the importance of power interest groups in undemocratic regimes and productivity of economy. The authors propose an original theoretical model using the achievements of the theory of securitization in order to trace the mechanism of the influence of the "Siloviki" on the economic development of states in the absence of institutional and social restrictions. Based on the theoretical model, a quantitative index of the influence of the "siloviki" is proposed, combining a set of institutional and political variables. A set of statistical methods is used to identify the relationships between the index of the siloviki’s influence and economic development: panel regressions with fixed effects and discontinuous regressions. The models’ results show a stable negative impact of power interest groups on productivity of economy.
During 1998-2011 the National Research University – Higher School of Economics (Moscow) has been surveying the results of activities of most leasing market operators in Russia, including all the largest ones. The results of the scheduled annual analysis undertaken by us to survey the activities of leasing companies in the Russia indicate that the year 2010 was successful for the leasing business. According to the Leaseurope, and author’s data, Russia occupies the 5th place in Europe after Germany, United Kingdom, Italy, French. In practice many Russian leasing companies have managed not only to copy but also successfully to adapt the experience of the countries with developed leasing industries. Despite the growth in new business, account must be taken of the quality of the leasing portfolio. It turned out that it just got a little better as compared with the previous year. The analysis showed that cost of loans taken for financing leasing operations, as well as the cost of the funds of a leasing company, the funds of the lessee, the use of factoring, promissory notes/exchange bills, securities and other instruments, depends on a variety of factors, including: financial independence of leasing companies; the risks associated with the sale of a leasing product; the security for the transaction; the terms of depreciation of leased property, the terms of credit contract and of leasing contracts; the currency of the leasing transaction; whether the funds are borrowed on the domestic or on the international capital market; the schemes for carrying out a leasing operation, etc. With each year there the number of Russian leasing companies that can obtain financing directly from foreign banks grows. There is a growth in the volume of credit operations with the involvement of the national agencies for insurance of export-import operations, e.g. from Germany, Austria, Italy, the Netherlands, the USA and other countries. Securitisation of leasing assets held at the junction of four financial tools – lending, leasing, factoring, securities issues. This innovative mechanism that requires subtle scientific and practical configuration achieves remarkable economic performance update, modernisation and re-equipment of enterprises. The author has developed a system of securitisation leasing asset pricing which is feasible through a set of equations that balance the interests of the participants. The article also examined the status of concentration of leasing market, its regional and sectoral structures.
The new 2014 edition features: The Global Leasing Report provides an exclusive overview of the international leasing industry providing data on volume and growth by region, market penetration, GDP penetration ratios and market shares; A ranking of the top 50 leasing markets by size worldwide; Detailed reviews of developments in Europe, North America, emerging markets, Islamic leasing, law and operating leases; Industry professionals discuss the implications of the revised lease accounting exposure draft due in 2014 and the changes it will bring to the global leasing markets; An in-depth information technology report projects leasing software trends for 2014; An extensive software section provides product reviews for all of the major lease software providers outlining product capabilities, recent enhancements, compatibility and availability; Concise market reviews for over 50 different countries worldwide cover all leasing sectors, each including detailed tables and charts offering data breakdown of growth rates, market penetration and business volumes.
In the paper some prominent features of a modern financial system are studied using the model of leverage dynamics. Asset securitization is considered as a major factor increasing aggregate debt and hence systems uncertainty and instability. A simple macrofinancial model includes a logistic equation of leverage dynamics that reveals origins of a financial bubble, thus corresponding closely to the Minsky financial instability hypothesis. Using ROA, ROE, and the interest rate as parameters, the model provides wide spectrum of leverage and default probability trajectories for the short and long run.
The article presents a review of events in the financial market in 2007-2008. The author studies the interconnection between macroeconomic policy conducted by the USA monetary authorities since beginning of 1980-s till now, and the risks which have concentrated in the financial system and resulted in the crisis. The author specifies the mechanisms of the crisis deepening and broadening, and gives her own evaluation to them.
During 1998-2010 the National Research University – Higher School of Economics (Moscow) has been surveying the results of activities of most leasing market operators in Russia, including all the largest ones. The results of the scheduled annual analysis undertaken by us to survey the activities of leasing companies in the Russia indicate that the year 2010 was successful for the leasing business. According to the Leaseurope, and author’s data, Russia occupies the 5th place in Europe after Germany, United Kingdom, Italy, French. In practice many Russian leasing companies have managed not only to copy but also successfully to adapt the experience of the countries with developed leasing industries. Despite the growth in new business, account must be taken of the quality of the leasing portfolio. It turned out that it just got a little better as compared with the previous year. The analysis showed that cost of loans taken for financing leasing operations, as well as the cost of the funds of a leasing company, the funds of the lessee, the use of factoring, promissory notes/exchange bills, securities and other instruments, depends on a variety of factors, including: financial independence of leasing companies; the risks associated with the sale of a leasing product; the security for the transaction; the terms of depreciation of leased property, the terms of credit contract and of leasing contracts; the currency of the leasing transaction; whether the funds are borrowed on the domestic or on the international capital market; the schemes for carrying out a leasing operation, etc. With each year there the number of Russian leasing companies that can obtain financing directly from foreign banks grows. There is a growth in the volume of credit operations with the involvement of the national agencies for insurance of export-import operations, e.g. from Germany, Austria, Italy, the Netherlands, the USA and other countries. Securitisation of leasing assets held at the junction of four financial tools – lending, leasing, factoring, securities issues. This innovative mechanism that requires subtle scientific and practical configuration achieves remarkable economic performance update, modernisation and re-equipment of enterprises. The author has developed a system of securitisation leasing asset pricing which is feasible through a set of equations that balance the interests of the participants. The article also examined the status of concentration of leasing market, its regional and sectoral structures.
The article explores the procedural aspect of constructing structural and logical typologies with the aim of creating the innovation index - workers attitudes guiding innovation and innovation -related behavior at workplace.
The article deals with the processes of building the information society and security in the CIS in accordance with modern conditions. The main objective is to review existing mechanisms for the formation of a common information space in the Eurasian region, regarded as one of the essential aspects of international integration. The theoretical significance of the work is to determine the main controls of the regional information infrastructure, improved by the development of communication features in a rapid process.The practical component consists in determining the future policies of the region under consideration in building the information society. The study authors used historical-descriptive approach and factual analysis of events having to do with drawing the contours of today's global information society in the regional refraction.
The main result is the fact that the development of information and communication technologies, and network resources leads to increased threats of destabilization of the socio-political situation in view of the emergence of multiple centers that generate the ideological and psychological background. Keeping focused information policy can not be conceived without the collective participation of States in the first place, members of the group leaders of integration - Russia, Belarus and Kazakhstan. Currently, only produced a comprehensive approach to security in the information field in the Eurasian region, but the events in the world, largely thanks to modern technology, make the search for an exit strategy with a much higher speed. The article contributes to the science of international relations, engaging in interdisciplinary thinking that is associated with a transition period in the development of society. A study of current conditions in their relation to the current socio-political patterns of the authors leads to conclusions about the need for cooperation with the network centers of power in the modern information environment, the formation of alternative models of networking, especially in innovation and scientific and technical areas of information policy, and expanding the integration of the field in this region on the information content.
This special publication for the 2012 New Delhi Summit is a collection of articles by government officials from BRICS countries, representatives of international organizations, businessmen and leading researchers.
The list of Russian contributors includes Sergei Lavrov, Foreign Minister of Russia, Maxim Medvedkov, Director of the Trade Negotiations Department of the Russian Ministry of Economic Development, Vladimir Dmitriev, Vnesheconombank Chairman, Alexander Bedritsky, advisor to the Russian President, VadimLukov, Ambassador-at-large of the Russian Foreign Affairs Ministry, and representatives of the academic community.
The publication also features articles by the President of Kazakhstan NursultanNazarbayev and internationally respected economist Jim O’Neil, who coined the term “BRIC”. In his article Jim O’Neil speculates about the future of the BRICS countries and the institution as a whole.
The publication addresses important issues of the global agenda, the priorities of BRICS and the Indian Presidency, the policies and competitive advantages of the participants, as well as BRICS institutionalization, enhancing efficiency and accountability of the forum.