'Red flags of corruption'in world bank projects : an analysis of infrastructure contracts

"Red flags"are indicators of potential issues regarding governance failure, collusion or corruption in projects. While some specific red flags can be powerful indicators of issues to be addressed, the hypothesis of this paper is that many proposed red flags are potentially too ubiquitous and randomly distributed to be useful as indicators of significant governance failure. The paper examines project documentation from a small sample of World Bank water and sanitation projects in an attempt to collect data on the presence or absence of 13 commonly accepted red flags. This paper finds that: (i) almost every contract reviewed raised at least one of 13 red flags analyzed; (ii) potentially tainted contracts did not exhibit notably more red flags than control contracts; and (iii) the occurrence of multiple red flags in the same contract was rare enough to suggest that joint occurrence was largely by chance, not as a result of a strongly causal inter-relationship between flags. The ubiquity and apparent randomness of these red flags suggests that their roll-out as a monitoring tool requires additional thought as to interpretation, context and use. The paper examines an alternate tool for uncovering potential problem projects -- supplier concentration. Across a very small sample, there does appear to be a relationship between such concentration and potential problem projects.Post Conflict Reconstruction,Debt Markets,Government Procurement,Investment and Investment Climate,Literature&Folklore

Intensity of Russian Companies’ Mergers & Acquisitions (M&A) Processes, 2001-2004: Econometric Estimation

The article uses econometric tools to analyze and identify main characteristics of mergers & acquisitions of Russian companies at the time of economic growth. We employ the Poisson regression to model M&A behavior, and its relation with macroeconomic indicators, while controlling for a linear trend and seasonality. It is one of the first attempts to estimate a similar model for Russian M&A.mergers and acquisitions; Poisson regression

Усиление экономических позиций российской электроники: механизмы и возможности

The research analyzes the changes in economic relations between the state and economic entities in the electronics market. It is for the first time when we discuss the author’s classification, which identifies four types of models of interaction between the state and Russian electronics companies depending on changes in the business cycle and instability of the economy: an inert or passive observer, a crisis model, dynamic and rational participation, and a model of active and multi-agency interactions. Specific characteristics of the proposed models are identified, and the features of interaction between government structures and companies are systematized. The research shows an increasing role of the state in supporting and financing new directions of the development of integrated structures in electronics, despite the processes of globalization and liberalization of the national economy. The novelty of the research is in the development of a comprehensive view on the institutional structure of state support for electronics. An active process of formation of complex-structured economic entities at the industry, inter-industry and interregional levels on the basis of state strategies for the development of electronics is analyzed. The specificity of modern behaviour of Russian electronics companies in the digital economy and the coronavirus pandemic is revealed on the basis of generalization of stylized facts of the specific companies’ activitiesИсследование посвящено анализу изменений хозяйственных отношений между государством и субъектами экономики на рынке электроники. Впервые обсуждается авторская классификация, выделяющая четыре типа моделей взаимодействия государства и российских компаний электроники в зависимости от изменения делового цикла и нестабильности экономики: инертного или пассивного наблюдателя, кризисная, динамичного и рационального участия, модель активных и мультиагентских взаимодействий. Выявлены специфические характеристики предложенных моделей, систематизированы особенности взаимодействия властных структур и компаний. Показано возрастание роли государства в поддержке и финансировании новых направлений развития интегрированных структур в электронике, несмотря на процессы глобализации и либерализации национальной экономики. Новизна исследования заключается в разработке комплексного представления об институциональной структуре государственной поддержки электроники. Анализируется активный процесс формирования сложноструктурированных хозяйствующих субъектов отраслевого, межотраслевого и межрегионального уровней на базе государственных стратегий развития электроники. Обсуждается современное поведение российских компаний электроники в условиях цифровой экономики и пандемии коронавируса на основе обобщения стилизованных фактов деятельности конкретных компани

Формирование проактивных стратегий китайских фондов прямых частных инвестиций на российском рынке корпоративного контроля

The article discusses the boundaries and contours of the possible institutional behavior of private equity funds (PEFs) in the Russian Federation in modern conditions. It analyzes the transformation of PEF sectoral interests in the Russian assets of non-public companies in the period of economic instability. Besides, it gives a relevant assessment of changes in the regional aspects of interaction between PEFs and recipient companies from Russia against the background of sanctions and import substitution, as well as private equity cycle. The article presents the modern metrics of Chinese PEFs and a multi-level monitoring of existing Chinese PEF projects in the Russian economy. It also analyzes the effects of multi-agent relations of PEFs and target companies in Russia against the background of a gradual recovery of the country’s economic growth. The article discusses the current and preferred format for the participation of investors in the PE market in the context of the adaptation of the Russian economy to the sanctions regime. It identifies the factors affecting the prospects and dynamics of the development of Chinese PEFs with an investment mandate for Russia and discusses the mechanisms of institutional support for expanding the presence of Chinese PEs in the Russian market for corporate controlВ статье рассмотрены границы и контуры возможного институционального поведения фондов прямых частных инвестиций (PEF) в РФ в современных условиях. Анализируется трансформация отраслевых интересов со стороны PEF к российским активам непубличных компаний в период экономической нестабильности. Дана релевантная оценка изменению региональных аспектов взаимодействия PEF и компаний-реципиентов из России на фоне санкций и импортозамещения, цикличности рынка (PE). Представлены современные метрики китайских PEF, осуществлен многоуровневый мониторинг действующих проектов китайских PЕF в экономике России. Проведен анализ последствий мультиагентских отношений PEF и целевых компаний в России на фоне постепенного восстановления экономического роста страны. Обсуждается сложившийся и предпочитаемый формат участия инвесторов на рынке PE в условиях адаптации российской экономики к санкционному режиму. Выявлены факторы, влияющие на перспективы и динамику развития китайских PEF с инвестиционным мандатом на Россию. Обсуждаются механизмы институциональной поддержки расширения присутствия китайских PE на российском рынке корпоративного контрол

Ultrastructural Abnormalities in Induced Pluripotent Stem Cell-Derived Neural Stem Cells and Neurons of Two Cohen Syndrome Patients

Cohen syndrome is an autosomal recessive disorder caused by VPS13B (COH1) gene mutations. This syndrome is significantly underdiagnosed and is characterized by intellectual disability, microcephaly, autistic symptoms, hypotension, myopia, retinal dystrophy, neutropenia, and obesity. VPS13B regulates intracellular membrane transport and supports the Golgi apparatus structure, which is critical for neuron formation. We generated induced pluripotent stem cells from two patients with pronounced manifestations of Cohen syndrome and differentiated them into neural stem cells and neurons. Using transmission electron microscopy, we documented multiple new ultrastructural changes associated with Cohen syndrome in the neuronal cells. We discovered considerable disturbances in the structure of some organelles: Golgi apparatus fragmentation and swelling, endoplasmic reticulum structural reorganization, mitochondrial defects, and the accumulation of large autophagosomes with undigested contents. These abnormalities underline the ultrastructural similarity of Cohen syndrome to many neurodegenerative diseases. The cell models that we developed based on patient-specific induced pluripotent stem cells can serve to uncover not only neurodegenerative processes, but the causes of intellectual disability in general