Using Remedies In Russian Merger Control
This article is motivated by a growing interest in the issue of merger control quality assessment. Remedies are one of the tools to control mergers and to have a significant influence on their results. This paper aims to analyze the merger remedies implementation in Russian merger control between 2007 and 2013. We have collected the database consisting of 134 merger cases accepted with remedies by the Russian antimonopoly agency. We analyzed the content of agency’s decisions and characterize how Russian authorities use behavioral and structural conditions. This helps us find special features of implementing remedies in Russian merger control. We try to explain the differences between Russian and developed countries practices.
Recently, the state taken various measures to protect the rights of citizens who use the various types of transportation, namely air, road and rail. In turn, the legal status of the passenger includes a number of rights and obligations, which legal regulations are in need of improvement. As practice shows, to date, more frequent non-standard rights violations during transportation of passengers and active use of the citizens of judicial and extrajudicial protection of their rights. This paper is devoted to these issues and graduate student of the Department of Private International Law, Faculty of Law of the National Research University «Higher School of Economics» Kasatkina A.S. considering these issues.
The digital economy is gradually gaining traction through a variety of recent technological developments, including the introduction of the Internet of things, artificial intelligence and markets for data. This innovative book contains contributions from leading competition law scholars who map out and investigate the anti-competitive effects that are developing in the digital economy.
The present study focuses on the deterrence effects of Russian merger control. The impact of merger control instruments (remedies and prohibitions) on future merger activity reflects the mechanism of the deterrence effects. We use panel data on merger control decisions to estimate empirically the ability of antitrust actions to deter firms from merging. The estimation procedure was based on several methods including Arellano— Bond estimator. The findings of the research illustrate the presence of deterrence effects of Russian merger control. At the same time remedies do not involve deterrence effects in Russia whereas prohibitions can deter future merger activity. Studying deterrence effects of merger policy tools may be an essential step in understanding benefits of merger control as deterrent effects may be even more substantial than direct effects of merger control.
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.