Партнерство государства и частного сектора: национализация и приватизация
The article discusses prospects of future developments in the field of Russian investment law. The author analyses new laws «On investment partnerships» and «On usiness partnerships», as well as certain draft laws. The author also deals with the perspectives of legal regulation of public-private partnerships as part of investment law.
For the last two decades many countries have developed Public-Private Partnership (PPP) and founded some management systems. Each of those countries has its own model of PPP taking into account specific aims and goals they pursue and priorities of their economic policy. Legislative and regulatory frameworks, administrative structures and functions of government authorities that are inherent in a given country, exert a great influence upon those models. In regard to this, the level of development of market economy and institutions of civil society and of legal culture (both offi cials and businessmen) is of great importance. The article is devoted to issues of PPP governance mostly in developed countries. The role of governing authorities in PPP implementation and their standing in the government structure have been disclosed and analysed, as well as their functions and outcome of their activities.
Polish model of system transformation and its flexible approach to privatization of state-owned enterprises appeared to be successful. While the vast majority of East European countries as well as Russia suffered a GDP contraction, Poland goes on ahead, though at a slower pace. The article analyses concepts and mechanisms of privatization in Poland, reveals its strong points and opportunities which may provide Russian decision-makers with a necessary insight to develop strategies under Russian reality.
The paper addresses the existing cross-regional diversity of delivery models in the sector of suburban passenger transportation in Russia by building a formal model of endogenous organisational choice. We develop a conceptual game-theoretic framework that allows for a trusting partnership to have become equilibrium in a regulatory bargaining game with delegation. The monopoly service provider initiates a more cooperative relationship with regional authorities by offering a share in the joint venture. The latter being benevolent welfare maximiser either accepts or rejects the offer taking into account transportation market characteristics, local budget constraints, information structure, as well as socio-economic and political factors. Once the partnership is formed the private information of the parties is revealed and information rent is eliminated creating the room for welfare improvement. However, ex ante rational organisational choice to form a trusting partnership may not lead to welfare improvement ex post. In the extended model we consider how concessionary passengers and fare-dodgers affect the bargaining outcomes. Our results can be generalized to characterize the diversity of organizational choices in the public sector
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.
We address the external effects on public sector efficiency measures acquired using Data Envelopment Analysis. We use the health care system in Russian regions in 2011 to evaluate modern approaches to accounting for external effects. We propose a promising method of correcting DEA efficiency measures. Despite the multiple advantages DEA offers, the usage of this approach carries with it a number of methodological difficulties. Accounting for multiple factors of efficiency calls for more complex methods, among which the most promising are DMU clustering and calculating local production possibility frontiers. Using regression models for estimate correction requires further study due to possible systematic errors during estimation. A mixture of data correction and DMU clustering together with multi-stage DEA seems most promising at the moment. Analyzing several stages of transforming society’s resources into social welfare will allow for picking out the weak points in a state agency’s work.