Международные компании развивающихся стран: внешняя экспансия национального предпринимательского капитала
What is "new normal' in a post-crisis context? The contributors from the Institute of Global Economy and International Relations IIMEMO) of the Russian Academy of Sciences try to find an answer to that question by rethinking the new reality in different dimensions: economic, social and political. They analyze the search for new models of economic growth and for new approaches to financial markets regulation, the peculiarities of innovation policies and the latest developments in the oil and gas sector, the new corporate map of the world where state-owned companies are struggling to regain a special place. The social sphere is changing in strong correlation with the economy: governments are searching for adequate response to the challenges of social imbalances and migration; governments' policies are reshaped under the pressure of the democratic views of the 21st century individuals. These problems are typical of all countries, but are of particular relevance in the case of the 'new periphery' countries - the post-communist states. New trends are emerging on the political arena as well, where new realities are forming within a system of international relations - the process which becomes evident when we take a look at the transatlantic relations and the bilateral relations of USA and China. The very paradigm of international security is undergoing major transformation in the post-crisis period. The contributors illustrate this trend by analyzing selected examples of conflict settlement in AfPak and the Middle East regions. The crisis had a significant impact on the European integration as well.
The study book will be of interest not only to professional economists, sociologists and experts in international relations but also to a wider audience interested in to the current trends in global development.
Russian multinational enterprises (MNE) expanded widely in the late 1990s through the summer of 2008 at the onset of the global financial crisis of 2008. The emerging market MNEs have now become a subject of intensive study with a particular focus on the actions and behaviors of firms from Brazil, Russia, India, China, and South Africa (BRICS). This paper attempts to flesh out the reputational and corporate social responsibility (CSR) aspects of this internationalization process. The paper finds that in select cases the reputation of a Russia MNE does play a role in their activities and that these emergent firms recognize host country stakeholders as an audience for concern when conducting OFDI.
There are a number of stereotypes regarding the investment attractiveness of Russian enterprises. Local companies often do not see any development prospects in Russia and complain at the unsatisfactory local institutional environment. However, the activity of multinational corporations (MNCs) in Russia serves as a clear evidence of its potential attractiveness as one of the BRICS markets (the so called "21st century markets"). This article discusses the activities of MNCs aimed to increase market representation in Russia, as well as the reasons for such behavior.
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.