Volume 2, 2001

Natalia VYMOROKOVA. Leasing as a pilot mechanism of the CIS ecologic security

The interstate leasing may become a pilot mechanism of funding and implementing the environment protection in the CIS. To this end the round table “Ecology-2000: investment leasing projects in the CIS” organized by the “SNGLIZING “leasing confederation jointly with the CIS Executive Committee was held in Moscow in December 21-22, 2000.It was devoted to pressing problems of leasing equipment for environment protection in urban utility, oil extraction and processing, and power supply in the CIS.

Mikhail KUZYK. Problems of legislative regulation of establishing and running the financial industrial groups in Russia

Major drawbacks of legal regulation of establishing and running the FIGs relate in particular to official registration of the FIGs, their management and state support, etc. Possible ways and methods are proposed to eliminate these drawbacks.

Oleg SUKHAREV. Competition as a “closing“ procedure. Micro-microeconomic principles of economic behavior and investments

New insight in the competition process. The theoretical description of competition and the economic policy. Competition as a form of behavior and the investment process. Social wealth, superficial effects, institutions and the “non - competitive“ mechanism of their reproduction. From the micro-micro economy to the macro one.

Mikhail MAKOVETSKY. Particular features of the investment process in Russia

The analysis of main trends in organizing the investment process under the market economy transformation in 1990s, and eventual prospects. Under cutting down the state investments lack of the enterprise own funds the main emphasis must be placed on mobilizing the outside sources, i.e. private and institutional investors. The priority line of the reform must be the updating of financial credit mechanisms capable of providing the economy with resources necessary for its development. The particular role is to be played by the securities market.

Viktor MOSKVIN. The time dynamics of the investment risks system

The “decisions tree“ of an investment project. The emergence and development of the project implementation risks. The limit risk of the project implementation. The system of investment project implementation risks. The limit risk reduction in the course of project implementation. Time interconnection of risks.

Mikhail LOMAKIN. An optimum portfolio of investment projects

A method is offered for forming an optimum portfolio of investment projects based on the approach different from G. Morovic’s approach. As the criterion of the optimum portfolio serves the maximum probability of the formed portfolio profit rate to exceed a certain pre-set level.