The article analyzes the evolution of modern theoretical approaches to selecting of the optimal form of property and related assessment of privatization in the context of the strengths and weaknesses of the public and private sectors. The different interpretations of the “fundamental” privatization theorem are discussed — through “principal-agent” approach, a comparison of the structure of information flows, the combination of property and contract rights, taking into account the socio-political factors, etc. The authors analyze recent policy trends of privatization in Russia for
2010—2013 in the context of the “reluctant privatization” and the asymmetry of the processes of nationalization and privatization.
Key words: privatization, government failures, public policy, public choice, allocative efficiency, information.

Alexander Radygin, Dr. Sci. (Econ.), professor, Gaidar Institute; Faculty of Economics, Russian Presidential Academy of National Economy and Public Administration
(82, Vernadsky prosp., Moscow, 119571, Russian Federation).
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Revold Entov, academician, Institute of World Economy And International Relations, Russian Academy of Sciences; National Research University — Higher School of Economics; Gaidar Institute
(5, Gazetny per., Moscow, 125993, Russian Federation).
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This article analyzes the initiatives of the Government of the Russian Federation in the field of privatization policies that are associated with the development of a new Concept of state property proposed for public comment and received controversial assessment of the scientific community. Particular attention is paid to the comparative analysis of the purposes and methods of privatization in various stages of development of the russian economy, observation of the features of the privatization policies to address the efficiency of state property management, identify forward-looking novelty of the project plan for the privatization of the federal property for the years 2014—2016, as well as the feasibility of the concept of change in the proposed government version.
Key words: privatization, public ownership, public sector reform, state enterprises, the share capital of the state.

Natalia Kononkova, Dr. Sci. (Econ.), docent, Strategic planning and political economy Department of the Faculty of the public administration, Lomonosov Moscow State University
(27/4, Lomonosovsky prospect, Moscow, 119991, Russian Federation).
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The article describes A.Gerschenkron’s biography and considers the main aspects of his research. The bibliography of his works is presented.
Key words: A. Gerschenkron, economic backwardness, Gerschenkron’s effect.

Andrei Belykh, Dr. Sci. (Econ.), associate professor, JSC “Bank Saint Petersburg”
(64A, Malookhtinskiy pr., St. Petersburg, 195112, Russian Federation).
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The work analyses the history of Russian — European economic and political relations. The role of Russian economic history for understanding mercantilism and M. Weber’s hypothesis concerning protestant ethics and the spirit of capitalism is evaluated. The similarity between protestants and old believers is demonstrated.
Key words: Russia and Europe, mercantilism, Protestantism, old believers.

Alexander Gerschenkron (1904—1978), a Russian-born American economic ­historian.

The work justifies and proposes the system of indices and indicators, which allows to characterize the housing problem, to monitor the dynamics of its solution, to identify factors that contribute to achieve certain results based on settlement terms of households and dwellings. There were developed the theoretical framework, methodology and algorithms of monitoring the living conditions of households and the settlement of housing. They allow to receive timely, complete, objective and integrated information about the housing provision of households, depending on their size and intensity of usage of the dwelling (depending on their capacity), which is necessary for implementation of the government’s housing policy. Applying the results of monitoring can provide effective management solutions aimed at the rational use of available resources and, above all, budgetary funds.
Key words: living conditions, households, housing policy.

Vadim Dogadaylo, Cand. Sci. (Econ.), Russian Presidential Academy of National Economy and Public Administration (RANEPA) (82, prosp. Vernadskogo, Moscow, 119571, Russian Federation).
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Aleksandr Sidorenko, Cand. Sci. (Tech.), Institute of Development of Construction Branch
(4, str. 1A, Leninskiy prosp., Moscow, 119049, Russian Federation).
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In article some crisis situations in the Russian economy and various ways of their overcoming are considered. Major factors thanks to which restoration of national economy began, are analyzed. The economic policy pursued by the state at the beginning of the 2000th years and after world crisis of 2008-2009 for restoration of industrial growth is compared. Results of calculations of structure of factors of growth of industrial production are given to the various periods of development of economy. Problems of the developed post-crisis situation are considered.
Key words: crisis, investments, export, factors of production, economic structure, economic growth.

Alexander Frenkel, Dr. Sci. (Econ.), professor
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Yakov Sergienko, Dr. Sci. (Econ.), professor
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Natalia Raiskaya, Cand. Sci. (Econ.)
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Irina Maltseva, Cand. Sci. (Econ.)
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Department of macroeconomic analysis and forecasts, Institute of Economy, RAS
(32, Nakhimov­skiy prosp., Moscow, 117218, Russian Federation).

The financial and investment component has essential weight in economic system. The retrospective analysis of last economic crises specifies is very important in their development­ of financial sector. Crisis of sovereign debts developing now can be a bright example of a role of finance in cyclic fluctuations of economy. At the same time financial­ resources have to provide growth of real sector of economy. A number of factors which are considered in article has impact on credit and financial providing real sector of economy as a whole and small business in particular.
Key words: banking sector, small business, credit and financial providing, financing.

Milana Abdurakhmanova, post-graduate student, Russian Presidential Academy of National Economy and Public Administration (RANEPA) (82, prosp. Vernadskogo, Moscow, 119571, Russian Federation).
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The problem of regulation of tariffs for call termination on the networks of mobile operators is considered in this article. This would seem to be a very private matter but it serves as a good illustration of the two major problems of modern antitrust regulation. First, it is a problem of using a special ratio of industry regulation and common antitrust approaches. Second is the problem of application of antitrust laws in the so-called related markets. The question of the regulation of tariffs for call termination on the network of telephone operator, including the evolution of approaches to the regulation of this sector, the reasons for rejection of its regulatory norms of antimonopoly legislation in many countries and the problems existing in this field in Russia is scrupulously studied.
Key words: antitrust, mobile operator, industry regulation, related markets.

Polina Kryuchkova, Dr. Sci. (Econ.), professor, National Research University — Higher School of Economics
(26, bld 3, Shabolovka ul., Moscow, 119049, Russian Federation).
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The influence of Leniency Program on stability and duration of cartels promotes the increase of efficiency both the work of antimonopoly authority, and the antimonopoly policy concerning the agreements that restrain the competition as a whole. The results of generalization and the critical analysis of empirical researches devoted to factors of efficiency of Program in Russia and abroad, have shown the influence of rules change on behavior of the market participants. However the methodology of assessment of Program’s efficiency is remaining a debatable question. The purpose of this article — to generalize the methods of empirical assessment of the program effects.
Key words: Leniency program, cartel agreements, antitrust policy.

Guzel Yusupova, Cand. Sci. (Econ.), associate professor, Faculty of Economs, National Research University — Higher School of Economics (26, ul. Shabolovka, Moscow, 119049, Russian Federation).
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Because currency and deposits are not perfect substitutes in all transactions there are simplified financial systems in which control of the supply of currency is sufficient to control the price level. Most important, in a currency supply approach price level control does not imply control of financial intermediation. Thus, price level goals never have to be weighed against the availability of credit to finance real activity.
Key words: currency, money, deposits, financial system.

Eugene F. Fama, Robert R. McCormick Distinguished Service Professor of Finance at the University of Chicago Booth School of Business (Chicago, Illinois, USA).

In this chapter the author examines the status of political economy as a science. At first he discusses the reasons for the fall of interest in the study of political economy in the UK, and oddly enough in London, especially among the educated strata of society. This decline is associated with a reduction in the importance of the principle of laissez-faire, the chief achievement of political economy of the previous years. According to the author, the principle of laissez-faire does not have any scientific basis, but is at best merely a convenient rule of production, rule of thumb, not a scientific doctrine generally robust, but like most other sensible practice having numerous exceptions. Political economy is something more than laissez-faire doctrine, it is the fundamental science, along with astronomy, dynamics, chemistry, physiology etc. The subject of economic science is the phenomena of wealth, while the latter emphasize the phenomena of the material world, but its methods, its purpose, the nature of the conclusions are the same as those sciences.
Key words: political economy, science, the doctrine of laissez-faire.

John Cairnes (1823—1875), the British economist.