XIV Апрельская международная научная конференция по проблемам развития экономики и общества: в 4-х книгах. Книга 1
We assess the effects of state-controlled "national champions" on the concentration and efficiency of the Russian banking industry. Our main hypothesis is that the unusual findings of the empirical studies reflect a specific institutional structure of the Russian banking market, namely the dominant position of the state-controlled players who are essentially different institutions than other commercial banks. The novelty is that we offer an alternative view of the market structure in an industry dominated by state-controlled entities, namely by consolidating their market shares into a combined market share.
Demographic transition leads to huge changes in the age composition of the population and in the structure of the person’s life cycle. This dramatically increases the number of elderly people per one adult and reduces the number of children, but the total dependency ratio of children and elderly people changes insignificantly. Historically developed pay-as-you-go pension systems were targeted at pre-transitional age structure with a small share of elderly people. The population aging requires the replacement of these systems with defined contribution pension systems that would relate pensions to the person’s life cycle structure instead of the population structure thus providing person’s post-labor life with savings earned in the course of the working period.
The legally established retirement age should take into account demographic factors such as life expectancy as well as their disability-free life expectancy of males and females at this age. There are no demographic backgrounds for raising the retirement age in Russia.