In this paper, we regard public procurements as an instrument used by the state for indirect support of enterprises. In this context, we have posed the following questions: what place do the public procurements occupy in the system of relations between business and the state? Can we regard them as a component in "the system of exchanges" between enterprises and authorities? To what extent do public procurements are combined with measures for direct support of enterprises? To answer these questions, we used the data from a survey of enterprises conducted by the Institute for Industrial and Market Studies at the National Research University- Higher School of Economics in 2009. Our analysis gives us grounds to believe that as economic development of a region rises, direct support of enterprises declines giving way to indirect support by means of public procurements.
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.