Vol 3, No 1 (2015)
5-33
Abstract
The purpose of the article is to analyze how IOC voting process modifies the Olympic ideals and sport development in host countries. The authors analyze a representative democracy within the Olympic Movement (the features of the functioning of the IOC, NOCs and other public organizations in the process of Olympic Games preparation). The article discusses the features of the decision making process at different stages of the hosting country selection. Candidature Acceptance Procedure includes 11 indicators. The authors describe these indicators and analyze the importance of each of them for final score. A special attention is paid to the voting procedure in the final part of the decision. The authors investigate the factors contributing to the developmentof principal-agent problem, logrolling and bureaucracy. Features of voting and logrolling are based on the choice of 2014 Olympic Winter Games capital (Sochi, Russia).Influence of Olympic Games on the host country’s economy is investigated on the base of major macroeconomic factors. Authors show the dependence between chosen model of administration and financing and economy and sport development in SR and LR.The authors draw conclusions on how to improve the constitutional framework for the reduction of the prerequisites for the emergence of informal relations in the decision to host sports mega events.
34-56
Abstract
Virtually every country has at least one institution regarded as a development bank. However, there is a marked gap in studies of development banks on national scale. Following this demand, the current paper aims to shed light on a phenomenon of national development banks. This article identifies theoretical roots of development bank’s existence and investigates its effectiveness. Based on the substantial amount of data observed we suggest an umbrella definition of a development bank. Further, we suggest relevant taxonomy to avoid potential misleading benchmarks. Descriptive statistics on macro-level of analysis demonstratesidiosyncratic nature of national development banks and its extreme heterogeneity. Constructed empirical model identifies general positive association between development bank’s foundation and national economic growth.
57-66
Abstract
The purpose of the article is to identify actual condition and recent changes in monetary policy of the Bank of Russia. The article considers the main directions of the monetary policy of the Bank of Russia, especially in correspondence with Russia’s deep political and economic problems. The author underlines negative aspects of the Bank of Russia’s monetary policy that took place in 2014. The attention is focused on consequences of inflation targeting policy influence on the economy, and on the use of monetary control instruments at the level of bank lending, rates of economic growth, etc. The research conducted by the author is based on dynamicsof macroeconomic indicators. The author makes the conclusion that there is a change of the Bank of Russia’s monetary policy paradigm, which tends to correspond with the purposes of economic growth. The author also offers possible directions of improving Russia’s monetary policy, including double-purpose, which, in the author’s opinion, is of paramount importance at the present stage of Russia’s economy development under the conditions of economic and political instability, crisis and shocks .
67-79
Abstract
The wave of financial liberalization raises questions about the competitiveness of Vietnamese commercial banks against those from other countries. The main purpose of this paper is to measure the market concentration using the k banks concentration ratio (CRk) and the Hirschman-Herfindahl index (HHI) and speculate on the market competition in Vietnamese banking sector under Panzar - Rosse approach. Overall, Vietnamese banking sector is found to be highly concentrated although it is experiencing a decreasing trend.Also, the speculation of market competition indicates a monopolistic behavior of Vietnamese commercial banks.
80-88
Abstract
This paper investigates the relationship between remittances and economic growth in Vietnam during the period 1996-2012. To do that, we applied an autoregressive distributed lag (ARDL) bounds testing approach to co-integration; in addition, an error correction model derived from the ARDL model was used to examine short-run dynamics among variables. We provide empirical evidence that remittances have significant positive effects on economic growth in both the short and long run.
89-98
Abstract
In this article insurance risks of electric power industry of the Russian Federation, corporate insurance of electric power objects are considered. The special attention is paid to the types of insurance inherent in this branch, widespread in the Russian Federation, and also the types of insurance having development prospects in the country.
ISSN 2308-944X (Print)
ISSN 2311-0279 (Online)
ISSN 2311-0279 (Online)