Совершенствование банковского регулирования и надзора в России на основе международных принципов
Monograph by S. Khasyanova «Upgrading Banking Regulation and Supervision in Russia in the line with International Standards» is devoted to the study of the development of banking regulation and supervision in Russia on the basis of international principles and standards. The process of implementation of international principles and standards of banking regulation in the Russian Federation and the following consequences are analyzed in the context of financial stability. Particular attention is paid to macroeconomic regulation and development of prudential regulations and requirements for banks, taking into account banking sector peculiarities. The regulation of systemic risk, identification of systemically important banks and applied to them a particular regulatory regime were investigated. The Deposit Insurance System and its role in enhancing the stability of banks as well as its directions of improvement are also considered in the study. The book is intended for professionals in the field of finance and banking, teachers and students of universities’ economic and financial departments.
The paper presents an analysis of the G20 summit held under the French Presidency in Cannes on November 3rd and 4th 2011. The author assesses the summit agenda and decisions made by the leaders in the key areas of coordination, including the strategy for growth and jobs, reform of the international monetary system, actions to restore financial stability and strengthen the medium-term foundations for growth, deepening of financial sector reform, fight against corruption, investing for global growth. The paper highlights the challenge of implementing two agendas: the planned and the anti crisis one. The conclusion sums up the strengths and weaknesses of the summit and the G20 summitry, reviews the features of the G20 institutionalization, makes a forecast for the sequence of presidencies after 2015, and puts forward brief recommendations for the Russian G20 presidency in 2013. The publication is prepared within the framework of a joint project of Russian International Affairs Council (RIAC) Project and International Organizations Research Institute of the NRU HSE "Increasing Effectiveness of Russia's Participation in G8, G20 and BRICS in accordance with Russian Priorities and National Interests".
Active vocabulary for business English students based on the business coursebook "Market Leader". The focus is on the development and mastering of business English active vocabulary for the Business Studies.
Despite the impressive economic growth in Russia between 1999 and 2007, there is a fear that Russia may suffer the Dutch disease, which predicts that a country with large natural resource rents may experience a de-industrialisation and a lower long term economic growth. In this paper we study if there are any symptoms of the Dutch disease in Russia. Using a variety of Rosstat publications and the CHELEM database, we analyse the trends in production, wages and employment in the Russian manufacturing industries, and we study the behaviour of Russian imports and exports. We find that, while Russia exhibits some symptoms of the Dutch disease, e.g. the real appreciation of the rouble, the rise in real wages, the decrease in employment in manufacturing industries and the development of the services sector, the manufacturing production nonetheless increased, contradicting the theory of the Dutch disease. These trends can be explained by the gains in productivity and the recovery after the disorganisation in the 1990s, by new market opportunities for Russian products in the European Union and in CIS countries, by a growing Chinese demand for some products and by a booming internal market. Finally, investments in many manufacturing industries were largely encouraged, whereas those in the energy sector were strongly regulated, which contributed to the economic diversification.
The historical changes in Central and Eastern Europe demanded suitable paths for the transition from centrally planned to market based economies. The lack of relevant experience added to the challenge, giving rise to the incalculable risks of implementing untested policies. By focusing on monetary policy, trade, and convergence, this volume addresses some of the most urgent economic policy issues in the transition economies of Central and Eastern Europe and beyond.
Authorities of the state regulation, creditors and investors are interested in getting reliable information about the banking sector activities. The procedure of bank financial soundness and accountability evaluation is carried out by supervision authorities as well as by international and national rating agencies. The analysis of the methodologies of bank accountability evaluation and forecasting in Russia shows the following results. The Bank of Russia makes decisions on banks financial soundness based on financial coefficients of different groups; the calculations are grounded on the official bank statements. Apart from financial indicators, rating agencies evaluate qualitative parameters of the bank activities. The common problem of the bank financial accountability analysis in Russia is the lack of use of the forecasting methods predicting the financial statement of banks and the probability of default. As a result, the problem-free banks corresponding to the demands of the supervision authorities on standards were considered to be problematic during the crisis. The aim of this research is the dynamic analysis of the main indicators of the Russian banks activities at the different stages of the economic cycle in order to identify the indicators of the early bankruptcy prediction and the opportunity to forecast the changes in the bank financial statement.
The author traces the analysis evolution of the monetary shocks effects on the economy, exploring the key approaches to modeling of the monetary transmission mechanism. The article emphasizes the necessity of the monetary transmission mechanism modification in the conditions of current financial crisis: the active role reflection of the financial intermediaries, accounting of the development degrees of institutional capacity in the economy.
We consider multistage bidding models where two types of risky assets (shares) are traded between two agents that have different information on the liquidation prices of traded assets. These prices are random integer variables that are determined by the initial chance move according to a probability distribution p over the two-dimensional integer lattice that is known to both players. Player 1 is informed on the prices of both types of shares, but Player 2 is not. The bids may take any integer value.
The model of n-stage bidding is reduced to a zero-sum repeated game with lack of information on one side. We show that, if liquidation prices of shares have finite variances, then the sequence of values of n-step games is bounded. This makes it reasonable to consider the bidding of unlimited duration that is reduced to the infinite game G1(p). We offer the solutions for these games.
We begin with constructing solutions for these games with distributions p having two and three-point supports. Next, we build the optimal strategies of Player 1 for bidding games G1(p) with arbitrary distributions p as convex combinations of his optimal strategies for such games with distributions having two- and three-point supports. To do this we construct the symmetric representation of probability distributions with fixed integer expectation vectors as a convex combination of distributions with not more than three-point supports and with the same expectation vectors.
The article dealsthe following questions to answer: • Do any mechanisms of market discipline exist in Russian market for personal deposits? We analyze the quantitative mechanisms: disciplining by quantity and by maturity shifts. • Did the DIS introduction influence depositors’ investment strategies?
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.