Как происходит изначальный выбор институтов? Критика концепции «случайности развития» и структурный подход
The Working Paper examines the peculiarities of the Russian model of corporate governance and control in the banking sector. The study relies upon theoretical as well as applied research of corporate governance in Russian commercial banks featuring different forms of ownership. We focus on real interests of all stakeholders, namely bank and stock market regulators, bank owners, investors, top managers and other insiders. The Anglo-American concept of corporate governance, based on agency theory and implying outside investors’ control over banks through stock market, is found to bear limited relevance. We suggest some ways of overcoming the gap between formal institutions of governance and the real life.
The purpose of the proceedings is to improve the relationship between climate and environment changes and human activities with specific focus on water related matters. The main themes of the proceedings are:Climate and Hydrology, Water, Environment and Human Activities, Water Related Risks, Integrated Water Resources Management, Ecohydrology & Hydrobiology, Computing and Technologies in Water sector
The article is devoted to analysis of discursive practices of public representation and discussion of the political course of “modernization” announced by president Dmitry Medvedev. It is focused at interpretations of the idea of modernization by the leading Russian politicians as well as at the role of the notions about collective past, present and future in its ideological justification and contestation.
The chapter focuses on one of the ways to communicate with the sacred popular among contemporary Russian Orthodox believers – written appealing to the saints (letters and notes). Although not happy at all about this habit, the Church managers allow to publish these letters in the parish newspapers and web-sites and in other church mass-media. Analysis of publications of the letters addressed to Saint Xenia of Petersburg proves that the Church publishes them as a part of its advertising campaign targeted on those people who prefer irregular religiosity (pilgrimages, letters to the saint, etc) to traditional regular parish life. The chapter develops Peter Berger’s metaphor of religious market.
Institutions affect investment decisions, including investments in human capital. Hence institutions are relevant for the allocation of talent. Good market-supporting institutions attract talent to productive value-creating activities, whereas poor ones raise the appeal of rent-seeking. We propose a theoretical model that predicts that more talented individuals are particularly sensitive in their career choices to the quality of institutions, and test these predictions on a sample of around 95 countries of the world. We find a strong positive association between the quality of institutions and graduation of college and university students in science, and an even stronger negative correlation with graduation in law. Our findings are robust to various specifications of empirical models, including smaller samples of former colonies and transition countries. The quality of human capital makes the distinction between educational choices under strong and weak institutions particularly sharp. We show that the allocation of talent is an important link between institutions and growth.
Nature abhors a "vacuum" - the new power elite arrives at the time of major social and political transformations and endeavours to shore up its position within the country and obtain support from outside. New power groups, which are active at times of revolution and who replace, push aside or even depose the old elites and impose their own control over the state machine and position themselves as new power elite.There are themselves not immune to social transformation, especially in the first decades of coming to their new commanding role. Unless its claims are given legitimacy it is unable to implement its positive programme, which it immediately claims as the national programme. Every country "acquires" a new functioning elite - political, financial and intellectual - from revolution or a change of regime. The old elite may lose control and depart or upon luck may merge into a new combination of social strata of particular country. We also believe that the composition and the structure of elites is the country-specific and reflect one’s country history.
This book seeks to “re-think democracy.” Over the past years, there has been a tendency in the global policy community and, even more widely, in the world’s media, to focus on democracy as the “gold standard” by which all things political are measured. This book re-examines democracy in Russia and in the world more generally, as idea, desired ideal, and practice. A major issue for Russia is whether the modernization of Russia might not prosper better by Russia focusing directly on modernization and not worrying too much about democracy. This book explores a wide range of aspects of this important question. It discusses how the debate is conducted in Russia; outlines how Russians contrast their own experiences, unfavourably, with the experience of China, where reform and modernization have been pursued with great success, with no concern for democracy; and concludes by assessing how the debate in Russia is likely to be resolved.
Considering specifi city of modernization processes in Russia, caused both by internal problems and Russias place in global economy, the author brings an attention to the question of features of standard-values system of Russian reformers. Results of the analysis of 12 values-blocks forming a basis of the variety of the standard-valuable systems of Russians are given.
We address the external effects on public sector efficiency measures acquired using Data Envelopment Analysis. We use the health care system in Russian regions in 2011 to evaluate modern approaches to accounting for external effects. We propose a promising method of correcting DEA efficiency measures. Despite the multiple advantages DEA offers, the usage of this approach carries with it a number of methodological difficulties. Accounting for multiple factors of efficiency calls for more complex methods, among which the most promising are DMU clustering and calculating local production possibility frontiers. Using regression models for estimate correction requires further study due to possible systematic errors during estimation. A mixture of data correction and DMU clustering together with multi-stage DEA seems most promising at the moment. Analyzing several stages of transforming society’s resources into social welfare will allow for picking out the weak points in a state agency’s work.
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.