Book
Глобальные технологические тренды
Global Technology Trends / A. Sokolova, N. Mikova, E. Gutaruk et al.; L. Gokhberg (ed.); National Research University Higher School of Economics. – Moscow: HSE, 2016. The publication was prepared within the framework of the Basic Research Program at the National Research University Higher School of Economics (HSE) and supported within the framework of the subsidy granted to the HSE by the Government of the Russian Federation for the implementation of the Global Competitiveness Programme.
The introductory article to the special issue “The Future of Energy” is devoted to promising areas of development of the global energy complex, the assessment of their contribution to overcoming global challenges, and ensuring sustainable development. The trends under consideration differ significantly in the rate of evolution. Prospective development trajectories present both opportunities and risks specific to the fuel and energy complex of a particular country. Success in using emerging advantages and leveling threats depends upon a combination of internal and external factors, including the choice of public policy measures and the effectiveness of their implementation.
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.