Регион в системе современных инвестиционных процессов
The article researches the trends of international capital movement in general and in the leading economies in the current decade. Besides advanced economies, the article considers BRICS, CIS and EEU states as well as offshores. It is argued that while the capital flows (likewise international trade, labor migration and knowledge exchange) are forming the future of the world economy, the current stance and future of the leading world economies basically determine the volumes and distribution of the capital flows. This asym¬metrical interdependence of the dynamics of international capital flows and world economy is researched on the basis of available current examples. The forecast is made that in the coming years the growth of volumes of international capital flows is questionable. Anyway, the share of emerging economies will be increasing, especially at the expense of BRICS countries (particularly China). The article also forecasts that US role in international capital inflow would be positively impacted by US tax reform, on the one hand, and negatively touched by US political instability, on the other hand. It is noted that in spite of Brexit and the failure of Transatlantic Trade and Investment Partnership project, the principal partners of the EU countries in the sphere of international capital flows remain the UK and USA. The developed Asian countries will retain their position of net capital exporters. As for CIS countries, foreign capital inflows will be shifting to such countries as Kazakhstan, Uzbekistan and Azerbaijan, while the share of Russia in FDI inflows will be decreasing.
email@example.comPrefaceWhat is Runet?There are at least three possible answers to this question. First, it is a segment ofthe Internet with content in Russian language. Second, it is a segment of the Internetassociated with the domain zone .RU. Third, it is the national—Russian—segmentof the Internet. The latter definition is the closest one to the idea of this book.However, the use of this elusive term will be presented with different layers ofmeaning in the following pages. Herein also lies the general concept of the book.Our contributors do not always agree with each other and sometimes expressnon-coinciding opinions. What they all certainly agree on, however, is that the Runetdeserves to be written about.In recent years, we hear more and more often that the so-called new media are infact not so new. Communication technologies, which were breathtaking a quarter ofa century ago, have become routines, even sometimes banal, and are neverthelessstill able to bring surprises. Today, for many people in the world the Internet is partof everyday life. And Russia is no exception.
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.