This paper studies the determinants of shifts in debt composition among emerging market non-financial corporates. We …

Tax provisions favoring corporate debt over equity finance (“debt bias”) are widely recognized as a risk to financial … amount, affect corporate debt ratios and mitigate financial stability risk. We find that rules targeted at related party … borrowing (the majority of today's rules) have no significant impact on debt bias—which relates to third-party borrowing. Also …

purpose, we use a detailed numerical model for the energy markets in Europe and Russia – LIBEMOD. Our results suggest that … removing implicit subsidies to Russian gas consumers will have substantial impacts on total consumption of gas in Russia …

We trace the rise of the so called oligarchs in post-Soviet Russia and examine their relationship to income … distribution in Russia. When Russia moved to a market economy in the 1990s a new business elite evolved. Russia's distinctive path …

In 2009, Russia introduced a reform that changed the admissions process in all universities. Before 2009, admission …

Russia. The adopted framework allows to analyse interdependence by estimating volatility spillovers, and also contagion by …

This paper argues that corruption in Russia is systemic in nature. Low wage levels of public officials provide strong … within Russia, survey the literature on the causes, consequences, and cures of corruption in Russia, and discuss entry points …