Modern principles of financial services markets regulation as a response to the financial and economic crisis of 2008

© MCSER-Mediterranean Center of Social and Educational Research. The financial and economic crisis of 2008 revealed lack of tools and inefficiency of methods used by regulators of leading states to predict and prevent crisis of global proportions. In this regard, national and supranational regulators are trying to introduce new principles for regulation of financial services markets, based on the philosophy of macro-prudential regulation. The paper presents a comparative analysis of institutions and methods of regulation in the USA, UK and European Union. The authors critically analyze the effectiveness of new models of regulators, questioning the benefits of new ones in comparison with previous. They emphasize the necessity to reform not only institutional structure of regulators but methodology of their activities too, as well as, the absence of universal prescription of reforms, coming to conclusion, that each country must choose its own, based on their legal traditions, regulatory system

Project risks’ management model on an industrial entreprise

© Canadian Center of Science and Education. The article proposes complex model of project risks’ management on an industrial enterprise, including interrelation of work stages in risk management, project risks’ evaluation and management methods and instruments; and an integrated index as an element of risks analysis technique. Project risk analysis and evaluation process takes one of the major places in procedural aspect. Risk management begins with the quality risk analysis where risks are identified and grouped. Results of quality risk analysis are used for the subsequent quantitative risk analysis which includes their evaluation in three key parameters: probability of a risk event, level of expected losses, limits of manageability of risks. Integrated index for risks’ analysis and evaluation developed by the author considers risks’ dual nature, probabilities balance, realization consequences and risks’ manageability. The function of this integrated index is identification of the project risks which can be influenced the most. Based on the calculation of integrated indexes of the identified project risks the decision on primary management for the risks with greater integrated indexes is made. The main procedure after the quantitative risk analysis of the risk management stage is to choose the risk management method and its subsequent application. It is necessary to analyze and generalize risk management activity efficiency, risk factors and uncertainty in the project finale. All the integrated information goes to an organization databank for further use

Application of flow methods for material and financial resources management to forecast oil production in Russia

© 2014 Canadian Center of Science and Education. All rights reserved. The paper considers the impact of flow methods on long-term development of oil extracting industry, the impact being associated with mineral resources production tax variation. Six oil production scenarios for Russia have been considered, comparative analysis of these scenarios is presented. By the end of the calculation period, the scenario that provides for 5% decrease of tax burden closely approximates the scenario of oil production under effective taxation system In terms of budget receipts volumes. The scenario with mineral resources production tax rate increase is the worst in terms of oil industry growth leading to the industry collapse. According to this scenario, an operating company’s tax burden increases to 78%. So far, the world practice has not witnessed economic growth under conditions of taxes as high as this; furthermore, taxation history testifies that too high taxes have not been paid. In terms of oil industry growth, the scenario that provides for 5% decrease of tax burden is the most credible and promising, provided the released flows are invested in production. The same level of tax burden decrease (5%) is required to attain oil production levels in Russia in 2018-2020s according to the 2030 Development Strategy

New requirements of the basel committeee on banking supervision to capital as a measure to ensure the stability of the banking sector

© MCSER-Mediterranean Center of Social and Educational Research. In this paper is devoted to problems of the introduction of new capital and liquidity standards proposed by Basel III. In particular, the authors critically analyze the lack of rigidity of the new requirements especially with respect to systemically important financial institutions. They also emphasize the necessity of macroprudential regulation to build more resilient financial system

Effect of crude quality on crude oil refining efficiency

The paper considers issues of crude quality effect on crude oil refining efficiency, continued growth of the share of hard-to-recover reserves in the reserves' structure. Official and judgment-based statistics data are presented. Development of petrochemical complex in the Republic of Tatarstan is discussed in some detail

The quality of spring rape seeds and its dependence on the doses of mineral fertilizers under the conditions of Southern Urals

Spring rape is a high-marginal crop that can be used in different areas of the national economy. Despite this, the area used for sowing this crop in the Russian Federation is still small, and the quality of its seeds does not always meet the standards. The purpose of the research is to identify the most effective doses of mineral fertilizers that allow obtaining the planned harvest of high-quality spring rape seeds in the southern forest-steppe of the Republic of Bashkortostan. The paper presents the results of triennial field researches (2016–2018) on the effect of mineral fertilizers on some indicators of the quality of spring rape seeds of the Iubileynyi variety. The research was carried out in the educational and scientific center of Bashkir State Agrarian University (Ufa, the Russian Federation) on leached black soils of heavy loam granulometric composition. The positive effect of calculated doses of mineral fertilizers on the object of interest was evident. Fertilization increased the spring rape yield capacity and its oil content by 0.34–0.51 t ha-1 and 0.1–1.8%, respectively. The yield of oil per hectare also increased. The use of fertilizers increased the content of nitrogen and potassium, averaging over three years 3.32–3.36% and 1.00–1.03%, respectively. The use of fertilizers did not significantly effect the content of phosphorus. The content of phosphorus did not exceed 1.74–1.79%. Crude protein content was 19.4–19.6% for researched period

Tyumen District in 1920s: Settlement Numbers and Development Features

The subject of this study is the rural settlements of the Tyumen district in the first quarter of the 20th century. It is noted that during this period, the Tyumen district was situated at the heart of the Tyumen region, ranking first in terms of population size (44,545 people) and the area of territory covered (5.4 thousand square kilometers). The paper examines changes in the number and typology of settlements within the Tyumen district through the lens of its rural localities. It has been established that the district’s settlement network consisted of 177 localities, falling into 11 types, with villages making up a significant proportion — over 50%. This fact indicates that in long-settled regions, settlement networks have existed in virtually unchanged forms despite various external and internal factors. Fifteen villages were identified as creating the framework of the Tyumen district’s settlement network, demonstrating resilience and successfully adapting to new conditions. For instance, data from 1912 and 1926 show that population numbers in these localities were growing, especially in those settlements occupying advantageous (central) positions within the existing network. Many villages in the Tyumen district attained this status during the Soviet period, even though at the beginning of the 20th century they were mere villages. Successful new connections between settlements were facilitated by transportation factors (the presence of railways, tract roads, and a navigable water artery — the Tura River)

Political Events of February 1917 in the Diocesan Periodicals of Western Siberia

The events of February 1917, presented on the pages of the church periodicals of Western Siberia, is examined in the article. The relevance of the study is due to the fact that for the first time in Russian historiography the political upheavals of this period have been analyzed on the basis of materials from regional diocesan records. The authors note that the diocesan records are an important historical source. A detailed analysis of the content of articles of Omsk, Tobolsk, Tomsk periodicals (“Diocesan Gazette”) on the presentation of the political events of February 1917 in them is carried out. The novelty of the research lies in identifying the attitude of the regional clergy to the revolutionary events in the period from February to April 1917. The presented results of the comparative analysis can be grouped according to the chronology and significance of the events that took place. The article concludes that it was during this period that one could hear the opinion of the Russian Orthodox Church on political changes in the country. It is noted that of particular interest were the issues of the relationship between the Church and the Provisional Government, this topic remained the most acute after the fall of the monarchy. It is shown that the representatives of the Russian Orthodox Church wanted to restore historical justice and receive autonomous government and independence from the secular authorities

Microeconomic analysis of crude oil production and investment spending growth rates in the oil sector of russian economy

The article presents econometric analysis of crude oil production and investment spending determinants of Russian oil companies. The study is based on microeconomic data. Five hypotheses are tested to produce estimates of the effect profitability, financial leverage, lag value of revenue growth, age and size of the company have on crude oil production volumes and investment spending of the companies. Investment activity is analyzed in terms of rates of growth of oil companies' property, plant and equipment, non-current assets and total assets. The sample is formed by 2004-2011 panel data for 200 companies with highest annual revenue, which according to All-Russia Classifier of Types of Economic Activity belong to the "Extraction of Crude Oil and Associated Gas". Quantitative estimates are obtained of interdependence between financial and investment policies of oil companies as well as of investing activities in connection with companies' life cycle

Learning curve from the financial economic crisis of 2008 for organizations: A conceptual viewpoint

© Shamil M. Valitov, Arthur A. Nigmetzyanov, Wilfred Isioma Ukpere, Leona L. Grigoryeva, 2016.The objective of this paper is to critically analyze the concept of organizations considered as a too big to fail and how this phenomenon played out within the recent financial economic crisis of 2008. Special attention was paid to its negative characteristics and consequences. Nevertheless, these types of institutions seem to have become an inalienable part of the mo-dern financial world. The authors explored literatures on the relevant financial sector reforms by considering the experience of Switzerland and USA with regards to the Financial Stability Board. The authors suggest that financial economic crisis of 2008 revealed the necessity to carry out measures to prevent systemic risk caused by large financial organizations