16th Annual NES Commencement ceremony
Andrey P. Vavilov and the Director of the IFS Alexey B. Pomanskiy were the guests of the 16th Annual NES Commencement ceremony. Barack Obama, President of the United States of America, gave a speech during the event.
Global energy security and international mechanisms of risk management
18 December ‘Global Energy Security and International Financial Mechanisms of Risk Management roundtable took place at the Council of Federation.
Speakers:
- A. P. Vavilov, member of the budget committee
- M. V. Margelov, chairman of the committee for international affairs
- Experts of the Russian Research Center ‘Kurchatov Institute'
- S. Y. Glaziev, academician
- V. L. Makarov, academician and director at the Central Economics and Mathematics Institute
- K. V. Simonov, head of the National Energy Security Fund
- Barry Ickes, Pennsylvania State University (USA)
- Clifford Gaddy, Brookings University (USA)
Uncertainty in field reserve estimates, petrol price volatility, the need for huge investments and capital efficiency in the circumstances of dependency on petrol create uncertainty risks. Senator Andrey Vavilov believes that cooperation between producers and consumers could minimize these risks. Cooperation will empower Russia to expand its presence in the global economy and minimize unwanted petrol and gas risks.
Risk minimization will be possible through a risk exchange mechanism: petrol and gas assets might be exchanged for assets of high technology businesses' (machine-building complex, financial sector, etc.) in various fields of industry and economy.
Risks exchange will enable Russia to receive needed technology.
Also, Mr. Vavilov believes, that two factors impede cooperation - ‘resource nationalism' from producers` side and ‘financial protectionism' from consumers` side. Until these exist, the formula for energy security will not work in Russia or elsewhere.
“After the Reset: U.S.-Russian Leadership for Global Financial and Energy Security”
Institute for Financial Studies is a co-sponsor for the panel discussion "After the Reset: U.S.-Russian Leadership for Global Financial and Energy Security" that took place in Brookings Institution (Washington, DC) on March 23, 2009.
Amid a growing global recession and financial and energy challenges, a new U.S.-Russia relationship offers promise for new models of cooperation aimed at long-term solutions. On March 23, Brookings hosted a panel of Russian and American experts to discuss international cooperation on energy security, the financial architecture, and other key challenges.
Andrey Vavilov, chairman of the Institute for Financial Studies in Russia, member of the Russian Federation Council and former first deputy minister of finance of Russia, provided keynote remarks. A discussion led by Russian Federation Council members Lyudmila Narusova and Valentin Zavadnikov, together with Clifford Gaddy and Barry Ickes of Brookings, followed. Brookings President Strobe Talbott provided introductory remarks. After the program, the panelists took audience questions.
Barry Ickes introduced a joint Russian-American research and policy initiative being conducted under the auspices of the Center for Research on International Financial and Energy Security (CRIFES), based at Pennsylvania State University and sponsored by Human Capital Foundation.
6th international conference on research, development and application of high technology in industry, St. Petersburg, 16-18 October 2008
IFS experts took part in the 6th international conference on research, development and application of high technology in industry that was held 16-18 October in St. Petersburg.
The event was organized by the Institute of Atmospheric Optics of the Siberian Branch of the Russian Academy of Sciences, St. Petersburg State University of Water Communications, ‘Provisions Enterprise' of the Russian Presidential Administration, Russian Foundation for Basic Research, Tomsk Polytechnic University, Thin Technologies Ltd., I. P. Pavlov Institute of Physiology of the Russian Academy of Sciences, S. M. Budenny Military Communications Academy of the Russian Defense Ministry, D. F. Ustinov Baltic State Technical University (‘Voenmech'), Academy of Strategic Research, Information and High Technology, National Youth Congress and others.
At the opening of the plenary meeting our experts presented a report ‘Impact of Stimulation of High-Tech Machine-building Industries on the Russian Economy Development' that stated a forecast for the country's economic development in different conditions until 2015.
Specialized meetings discussed problems of the gas-processing sector. It is no secret that use of various technologies of natural gas processing can improve the industry's technological level and form a new ‘growth point' for the national economy. The question of development and use of high technology is especially acute now, when the energy industry is facing big challenges and the Russian economy needs to shift from the exports and feedstock-oriented to investment and innovation-focused approach.
11th International Innovation Forum
10-12 October 2008 IFS experts took part in the Tomsk Innovation Forum organized by the Administration of the Tomsk region. The forum was supported by the Russian Presidential Administration, Science and Education Ministry, Ministry for Economic Development, Russian Union of Industrialists and Entrepreneurs, Russian Nanotechnology Corporation, Siberian Branch of the Russian Academy of Sciences, Sibur and others.
There are at least two reasons why this conference is of paramount importance. First, innovation is vital for Russia. Second, the Tomsk region is a special economic zone of innovation type with a strong scientific and intellectual base.
As part of the forum, an exhibition was arranged that showcased companies working on high technology in the fields of digital data transfer and protection, biology and new materials.
High tech projects require venture investments, therefore business incubators and technology transfer centers are constructed in Tomsk and researchers' occupational conditions are improved. Companies jointly with research and development institutes arrange presentations for angel investors.
Tomsk special economic zone of innovation type is seen as a base for transition to an innovational stage of economic development. Tomsk innovation and venture system performance can be studied for the benefit of other regions throughout Russia.
Yamal Innovation Forum
October 1-3 an IFS delegation took part in the Yamal Investment Forum that was held in Novy Urengoy. The forum focused on use of innovational technology in housing, transport and power engineering industries of the Yamalo-Nenetsky Autonomous District.
The IFS experts presented a report ‘Gas-to-Liquid Technology: an Innovation Vital to Russia' as part of the ‘Modern State and Prospects of Development of the Region's Infrastructure' section. The research findings aroused huge interest among scientists and business people. After the report presentation our experts answered the audience's questions.
As all issues under consideration are urgent for Russia's main oil and gas producing province, the range of themed conferences will be expanded with IFS participating, suggesting new solutions, reporting research results and discussing them with its Russian and foreign counterparts.
CAPCP Conference on Auctions and Procurements Penn Stater Conference Center, April 3-6, 2008
In early April 2008, the Institute for Financial Studies delegation, headed by the Institute's academic director A. P. Vavilov, took part in the conference hosted by the Center for the Study of Auctions, Procurements and Competition Policy (CAPCP) at Penn State University. The event was held at the Penn State Conference Center (Pennsylvania, USA).
The conference focused on the synthesis of theoretical and empirical approaches to the study of auctions and procurements; the reports delivered were of interest to both theoreticians (like Eric Maskin, winner of the Nobel prize in economics, who delivered an opening address an honored guest) and practitioners (Michael Baye, head of the Bureau of Economics of the Federal Trade Commission, who took part in the discussion).
14 reports were delivered during this three-day conference - ranging from purely theoretical (like 'Collusion via Resale' by Rod Garrat) to experimental ('Securities Auctions under Moral Hazard: an Experimental Study' by John Morgan) and purely empirical ('Bidding for Incomplete Contracts: An Empirical Analysis of Adaptation Costs' by Steven Tadelis). The attendees admitted that all reports were important for understanding how auction theory and practice were linked.
One of the conference's core events was a roundtable session on oil and gas auctions. The IFC-CAPCP joint project - a database of oil and gas auctions held in Russia 2004 through 2008 - was presented at the roundtable.
A special committee consisting of well-known auction theory experts (including Vijay Krishna, Isabelle Perrigne and Quang Vuong) strictly selected works to be presented - confirming the conference status as a high-level event.
Participation of Eric Maskin, one of the founders of the mechanism design theory that has had a deep influence on the auction theory development testified to the importance of the event and high competence of the organizers.
Sponsored by the Human Capital Foundation, the conference was a success; and the organizers look forward to this conference being an annual event.
Adam Smith Conferences` Second International Russian Alternative Investment Forum
A.Vavilov made a report "The Role of Alternative Investment in SWF Management" on Adam Smith Conferences' Second International Russian Alternative Investment Forum on 19th-21st February.
The 10th Annual Milken Institute Global Conference “Business in Russia”
A. Vavilov made a report “Equalization Fund and Financial Policy Priorities” at the 10th Annual Milken Institute Global Conference “Business in Russia” that took place on April 23-25, 2007 in Los Angeles
The 20th New Economic School Research Conference.
A. Vavilov made a report "Stabilization Fund and Financial Policy Priorities" at the 20th New Economic School Research Conference on November 9, 2006.
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