Journal archive
Competition policy |
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For Russia, to become more competitive means to bridge the technological gap, to use its competitive advantages to the full, to gain new advantages and to use the potential of the leading Russian companies. The state bodies and businesses should develop a policy where the strategic priority would be the shift of accents from production and processing of raw materials to mass production of hi-end hi-tech goods and services, including those meant for export.
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It is in the national interests of the country to form an independent and stable banking system. There should be a connection between the national priorities and the policy aimed at making the national banking system competitive on the world banking services market. The role the state bodi¬es play here can hardly be overestimated. President of Russia when speaking at the latest meeting of the State Council in November 2006 said that the competitive banking system was an integral part of the independent Russian state and he was definitely right.
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The issues of theory |
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The theoretical and practical issues associated with competition have been in the focus of the economic theory for ages. But it was in the 1930-s when Economics of Imperfect Competition by Joan Robinson and Theory of Monopolistic Competition by Edward Chamberlin were published which marked the beginning of the theory of competition as a systemic phenomenon peculiar to any market economy. Today the theory of competition is developing in Russia and in other countries.
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Industry market |
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The Russian stock market emerged 15 years ago. It saw both ups and downs but never turned into an effective mechanism able to induce large-scale investments. It is no wonder the Russian businesses which are able to attract investors have their own marketing strategies aimed at entering foreign markets. The success of the strategy depends largely on the knowledge and understand¬ing of the organizational specific features, and its development trends and rules.
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The absolutely effective stock markets are an idealistic theory not applicable to practice. The real
behavior trends ordinary shares demonstrate on a year-to-year basis prove that the statement is
true. In other words, there are regular cycles, or anomalies, of the shares life cycle. It is important for the market players (both those who deal with the market capitalization and those who develop an investment strategy to increase the company competitiveness level) to know about them.
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Professional competence |
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The Russian employers now have a difficult choice to make. On the one hand, fierce competition within the company labor market creates additional strategic HR opportunities for them to take advantage of; on the other hand, using impetuses deliberately to pedal the competition creates stra¬tegic concerns. One of the major concerns is the possible degrading of the psychological climate in the company and local manifestations of disloyalty to the employer at the personnel level.
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Industry competition (the banking sector) |
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A market cannot operate without competition, and the banking services market is not an exception to the rule. What is more, if we take a retrospective glance, the competition influence is more noticed on this particular market than on any other. The competition on this market became one of the most important factors in the evolutionary development of a banking enterprise from a banking office.
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Competition protection in the banking sector should be made a priority issue in the state policy as the unhealthy environment in the banking services sector hinders the economic development, restrains the investment inflow, and affects the QoS. Fair competition and market discipline imply the strict rules of the game, effective system of punishment for non-abidance, ruling out of the double standards, and the legal restriction of banking management's and state officials' rights when their informal contacts are concerned.
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The article provides the analysis of the Russian banking market competition through the modern non-rating-based approach to the research. In particular, the author uses the H-statistics model in order to assess the competitive environment of more than 800 banks which account for 98% of the market. Econometric analysis shows that when there are a considerable number of players on the market the Russian banking sector competition is less fierce than in Central and Eastern European countries.
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Federal Law "On Protection of Competition" |
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The new Russian Federal Law "On Protection of Competition" is aimed at making business rela¬tions between the state bodies, businesses and consumers absolutely transparent. The principle upon which the competitors' legal relations system is built is changing radically. The law stipulates that strict measures should be taken against market monopolists and group domineering, there are restrictions in regard to the state officials' competitive rights. The provisions which concern the exterritorial use of the antimonopoly legislation are made more coherent.
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The Russian antimonopoly law which is aimed at protecting the competitors playing at the Russian market so far is far from both an ideal and the world best practices. Nevertheless, the legislation is not something stable; it is changing for the better at a rather good pace in order to take into account the best practices the developed countries have and the modern requirements.
The fact that the Russian Parliament adopted the law "On Protection of Competition" last summer is the best proof of the above point. The law includes some rather serious innovations.
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The new law includes a new definition of the term "financial service". The system of the service constituent ele¬ments was changed. Each part of the financial service was defined in such a way so as to include the term service in it. The list of actions which can be interpreted as financial services is final. It means that the law developers wish to restrict the rights of some financial and non-financial organizations by defining the legislative norms.
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Новый закон о защите конкуренции с нетерпением ждали все, но больше всего разработчик доку мен та — Федеральная антимонопольная служба России, для которой работа над законом стала беспрецедентной и по времени, и по масштабам.
По просьбе редакции журнала о специфике и важности нового документа рассказал начальник Аналитического управления ФАС России Алексей Сушкевич. |
