Restricted access to finance is often stated as one of the main obstaclesto the development of the SME sector in Russia. In this paper, wepropose a new lending strategy that allows private banks to profitablyincrease financing of this sector in spite of being at a disadvantagecompared to the...

This paper takes a critical look at the challenges and achievements in the reformof the Russian power industry. Russian politics emphasized restructuring and privatization,which are widely seen as preconditions for attracting private investment.However, progress along this line has been slow and...

This paper develops a principalagent model of nancial contracting in which optimalcontracts resemble a combination of debt and equity. When defaulting on debt, therm is punished by disruption of external funding. Such contracts however, inviterivals to compete more aggressively to increase the...

Diese Arbeit besteht aus drei zusammengehörigen Essays, die eine theoretische Grundlage für Untersuchungen multilateraler Verhandlungen und strategischer Investitionen in drei unterschiedlichen Umgebungen liefert. Die vorgestellten Methoden werden angewandt um Entwicklungen in der eurasischen...

We propose a variant of the incomplete contract framework to analyze strategicinvestment in international transport networks, where investment is observable andsome, but not all, players cannot make long-term commitments regarding accessto their transport infrastructure. Those players who can...

We use cooperative game theory to analyze how the architecture of the pipelinenetwork determines the power structure in the supply chain for Russian gas. If theassessment is narrowly focussed on the abilities to obstruct °ows in the existingsystem, the main transit countries Belarus and Ukraine...

We use cooperative game theory to analyze how the architecture of the pipeline network determines the power structure in the supply chain for Russian gas. If the assessment is narrowly focused on the abilities to obstruct flows in the existing system, the main transit countries, Belarus and...