Kryzys w Stosunkach Międzynarodowych Typy Wymiary Skutki Sposoby Przeciwdziałania
Using data on foreign borrowing, I identify Russian banks that were affected by the sudden stop of external financing caused by the Lehman Brothers’ collapse. Applying the difference-in-difference method, I compare these «affected» banks to «unaffected» ones and find that the Russian Central Bank’s (CBR) anti-crisis financial assistance primarily went to the former group. Tracing the impact of the CBR’s liquidity infusions on banks’ portfolio allocation decisions, I find that banks used CBR funds not only to pay out foreign debt, but also to accumulate cash deposits in non-resident banks. I also find that affected banks increased their holdings of market securities significantly more than unaffected ones, which suggests that the CBR’s bailout policies impacted their risk-taking strategies. While there was no significant difference in corporate lending growth between the two groups after the sudden stop, lending to borrowers with weaker banking relationships (individuals and entrepreneurs) decreased more among affected banks.
The arcticles included in this collection summarize the results of the second stage of international project devoted to history and contemporary state of relations between nieghbouring states, peoples and cultures.
In this article the author attempts to explain the events occurring in the country taking into account the specificity of the Ukrainian political culture. From the point of view of the author, a key player in the Ukrainian revolution in 2014 was the Ukrainian society itself, and any attempt to comment the situation of modern Ukraine, first of all, should take into account civil conditions of the society itself. Qualitative state of civil society in Ukraine outrun the quality of the ruling elite, which inevitably provokes new confrontations and conflicts.
The article examines the problems of delegation of public powers of authority to self-regulated organizations: public powers of authority which may be delegated, spheres of state administration, where delegation of powers is not allowed, validity of control over realization of delegated powers in all cases of such delegation and responsibility of the state for the acts of private persons who exercise public powers of authority.
The article describes the structures of autobiographical narration in the novels and essays of the austrian writer E. Canetti.
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.