|
on Confederation of Independent States |
| By: | Hubert, Franz (Humboldt Universitat zu Berlin) |
| Abstract: | This paper provides a quantitative analysis of power relations and strategic investment in the transport system for Russian gas. First, we analyse how the architecture of the transport system determines Russia's bargaining power vis-a-vis (potential) transit countries. By applying the Shapley value as a solution for multilateral bargaining we find that competition between transit countries is of little strategic importance compared to direct Russian access to its customers in Western Europe. Second, we develop a dynamic model of strategic investment. We find that the failure to include Belarus and Ukraine into a framework for international contract enforcement resulted in underinvestment in cheap pipelines and overinvestment in expensive ones. As capacities are increased to gain leverage over transit countries, customers in Western Europe benefit in terms of lower prices and higher supply security. |
| Keywords: | Strategic investment; gas pipilenes; coalition formation |
| JEL: | C71 E40 L14 L95 |
| Date: | 2007–06–25 |
| URL: | http://d.repec.org/n?u=RePEc:ris:eibpap:2007_009&r=cis |
| By: | Glushkova, Ekaterina; Vernikov, Andrei |
| Abstract: | This paper tackles state participation in the Russian financial sector. We take the case of the banking industry to suggest criteria for a more accurate definition of public sector boundaries and an assessment of the actual scale of state presence in the national banking market. The approach for the assessment of the extent of state participation is based on the analysis of the peculiarity of the Russian banking industry due to the high extent and institutional specificity of government intervention in the financial system. The results presented in this paper provide evidence that the existing channels of state influence over banks are not limited to equity ownership with governance and other methods of control being employed as well and prove the hypothesis about the presence of downward bias in official estimates of the existing scale of state penetration. |
| Keywords: | public sector; banks; Russia; ownership; state control; state-owned companies |
| JEL: | P35 P31 G28 G21 |
| Date: | 2009–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:15563&r=cis |
| By: | Yuriy Gorodnichenko; Klara Sabirianova Peter; Dmitriy Stolyarov |
| Abstract: | We construct key household and individual economic variables using a panel micro data set from the Russia Longitudinal Monitoring Survey (RLMS) for 1994-2005. We analyze cross-sectional income and consumption inequality and find that inequality decreased during the 2000-2005 economic recovery. The decrease appears to be driven by falling volatility of transitory income shocks. The response of consumption to permanent and transitory income shocks becomes weaker later in the sample, consistent with greater self-insurance against permanent shocks and greater smoothing of transitory shocks. Comparisons of RLMS data with official macroeconomic statistics reveal that national accounts may underestimate the extent of unofficial economic activity, and that the official consumer price index may overstate inflation and be prone to quality bias. |
| JEL: | E20 I30 J30 O15 P20 |
| Date: | 2009–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:15080&r=cis |