The price of Moscow apartments
We present a simple hedonic model for apartment prices in Moscow in the year 2003. Based on some 15,000 observations we estimate the model and use the estimates for prediction. Pretest issues are explicitly taken into account.
In the current situation in Russia during the formation of the SME policy should be given the report that the mindless copying of foreign experience in support of the SME, which is presented in our country and, in particular, in Moscow, is not more than just a squandering of the budget. The failures in the development of the Russian SME sector are directly linked to this copy. The notable examples of this copying can be established in Moscow infrastructure to support the SME. As for the set of the infrastructure organizations to support the SME in Moscow - that it collects almost all the organizations at once from all developed countries, without regard to the realities of Russia and Moscow, with its corruption. While the development of Russian and, accordingly, Moscow small and medium business is being defined by more significant social, economic and political factors than the entire current, thoughtlessly copied from the practices of the developed countries, the Russian system of its state and municipal support.
The December protests in Moscow do not represent a “Russian Spring,” “Orange Revolution,” or new version of Perestroika. Rather they have more in common with the Progressive movement that fought corruption in the U.S. during the early part of the twentieth century. The demonstrations made clear that Russian citizens now want to play an active role in their country’s political life.
The practice of dacha subdivision, and garden plot allotment in particular, spread widely during Soviet times, not only within the Russian Federation, but also to other Soviet Republics and even other socialist countries. While in the environs of the many-socialist cities, second homes are actively included into the real estate market and housing supply, Moscow’s suburbs demonstrate their loyalty to the established tradition of seasonal migration between the city and the countryside. This study seeks to address the question how do the shifting from socialist to market economy impact the dacha life-style of the Muscovites and to look into dynamics of the changes in the relations between the city and hinterland since the collapse of the socialist state from dachas’ point of view.
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.