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Regular version of the site
Contacts

17/1 Malaya Ordynka Str., Moscow, 119017
Phone: +7(495)772-95-90*22237
Email: wec@hse.ru

Administration

Academic Supervisor Leonid M. Grigoryev

Deputy Head Natalia V. Supyan

Deputy Head Olga Klochko

Sections

World Economy Section Petr Mozias

Section of Energy and Raw Material Market Valery A. Krukov

World Trade Section Alexey Pavlovich Portanskiy

Section of Global Economic Regulation Vladimir N. Zuev

Partners

Book
IOP Conference Series: Earth and Environmental Science

Yakovleva A., Y., Volkova I.O.

Vol. 188. Prt. 012011. Iss. 1: conference. IOP Publishing, 2018.

Article
Relative social inequality in the world: Rigidity against the economic growth, 1992–2016

Grigoryev L. M., Pavlyushina V.

Russian Journal of Economics. 2019. No. 5(1). P. 46-66.

Book chapter
Perspectives of the “mini-Basel III” concept in the context of the EAEU integration policy

Dzhagityan E. P.

In bk.: XX Апрельская международная научная конференция по проблемам развития экономики и общества. 9–12. апреля 2019. M.: Higher School of Economics Publishing House, 2019.

Working paper
Decarbonization and Energy Policy Instruments in the EU: Does Carbon Pricing Prevail?

Stepanov I. A., Albrecht J.

Economics. EC. Высшая школа экономики, 2019. No. 211.

A new take on competition in the banking sector in the light of international banking regulation reform

On April 11–14, 2017, National Research University Higher School of Economics (NRU HSE) held the XVIII April International Academic Conference on Economic and Social Development. The conference is held annually and brings together a number of academics and experts from world leading universities and international organizations.

During the conferenceEduard Dzhagityan, Associate Professor, School of World Economy, HSE, spoke at the session highlighting key aspects and challenges of the post-crisis financial regulation with focus on whether banking competition could be included into international banking regulation system. His report titled: “Banking regulation and competition: In search of valid linkages in the light of international banking regulation reform” is the first ever research attempting to understand interrelationship between the extent and dynamics of banking competition and the contemporary model of international banking regulation, which is now in progress along with Basel III implementation process. The relevance of this issue stands in line with the international banking regulators’ efforts in maintaining sustainability of the banking sector and financial stability. In this context, lack of understanding of the relationship between competition and financial stability may obstruct proper adaptation of credit institutions to the requirements of the post-crisis specifics of banking regulation and volatile financial markets.

Missing instruments of quantitative assessment of banking competition complicates unbiased evaluation of the banking sector consistency and puts additional pressure on measuring stress-resilience of banks, which inevitably restrains efforts towards financial stability. In case of monopoly banking system, ‘undercompetitive’ environment substantially increases stress burden on banks, thereby exacerbating systemic risks and crisis developments at both micro- and macro-levels. In these circumstances, banks can reclaim their role of driving forces of economic development and growth if and when level playing field will become a lasting environment for all credit institutions. In the meantime, robustness of banking performance can be more objectively evaluated should fair competition in the banking industry is linked with the measures towards financial stability including competition-centered standards of prudential banking supervision.