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Regional Distribution of Foreign Direct Investment in Russia

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  • Ichiro Iwasaki
  • Keiko Suganuma

Abstract

The objective of this article is to develop a model of the regional distribution of foreign direct investment (FDI) in Russia based on panel data for 1996-2003 taking into consideration implications shown in preceding studies on the geography of FDI in Russia. Through descriptive statistical and econometric analysis, the following conclusions were reached. First, there is a notable deviation of FDI in Russia among regions; however, a clear geographical pattern, similar to that in Central and Eastern European countries and China, can not be observed. Second, resource endowments, market factors and social development factors, to which the preceding studies attach importance as determinants for the regional selection of FDI, also proved to have high significance and explanatory power in the empirical analysis. In addition, it has been suggested that climate and favourable regionally discriminatory FDI measures are possible investment factors. Third, evidence suggesting that the Russian financial crisis in 1998 had a statistically significant influence on the decision-making process of foreign investors was not found in this analysis.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/14631370500104828
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Post-Communist Economies.

Volume (Year): 17 (2005)
Issue (Month): 2 ()
Pages: 153-172

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Handle: RePEc:taf:pocoec:v:17:y:2005:i:2:p:153-172

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References

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  1. Pietro Garibaldi & Nada Mora & Ratna Sahay & Jeromin Zettelmeyer, 2001. "What Moves Capital to Transition Economies?," IMF Staff Papers, Palgrave Macmillan, vol. 48(4), pages 6.
  2. Anne-Celia Disdier & Thierry Mayer, 2003. "How Different is Eastern Europe? Structure and Determinants of Location Choices by French Firms in Eastern and Western Europe," Working Papers 2003-13, CEPII research center.
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Citations

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Cited by:
  1. Ledyaeva, Svetlana & Karhunen, Päivi & Kosonen, Riitta, 2013. "Birds of a feather: Evidence on commonality of corruption and democracy in the origin and location of foreign investment in Russian regions," European Journal of Political Economy, Elsevier, vol. 32(C), pages 1-25.
  2. Kayam, Saime Suna & Ecer, Sencer & Gupta, R, 2011. "Social determinants of intra-regional dispersion of FDI in India," MPRA Paper 39153, University Library of Munich, Germany.
  3. Kayam, Saime S. & Hisarciklilar, Mehtap & Yabrukov, Alexandr, 2007. "What causes the regional disparity of FDI in Russia? a spatial analysis," MPRA Paper 39151, University Library of Munich, Germany.
  4. Ledyaeva, Svetlana, 2007. "Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods," BOFIT Discussion Papers 15/2007, Bank of Finland, Institute for Economies in Transition.
  5. Svetlana Ledyaeva & Päivi Karhunen & John Whalley, 2013. "If Foreign Investment Is not Foreign: Round-Trip Versus Genuine Foreign Investment in Russia," Working Papers 2013-05, CEPII research center.
  6. Svetlana Ledyaeva & Päivi Karhunen & John Whalley, 2013. "Offshore jurisdictions (including Cyprus), corruption money laundering and Russian round-trip investment," NBER Working Papers 19019, National Bureau of Economic Research, Inc.
  7. Ksenia Gonchar & Philipp Marek, 2013. "Natural-resource or market-seeking FDI in Russia? An empirical study of locational factors affecting the regional distribution of FDI entries," HSE Working papers WP BRP 26/EC/2013, National Research University Higher School of Economics.
  8. K. Gonchar & Philipp Marek, 2013. "Natural-resource or Market-seeking FDI in Russia? An Empirical Study of Locational Factors Affecting the Regional Distribution of FDI Entries," IWH Discussion Papers 3, Halle Institute for Economic Research.
  9. Ichiro Iwasaki, 2007. "Enterprise Reform And Corporate Governance In Russia: A Quantitative Survey," Journal of Economic Surveys, Wiley Blackwell, vol. 21(5), pages 849-902, December.
  10. Alexander Plekhanov & Asel Isakova, 2011. "Region-specific constraints to doing business: evidence from Russia," Working Papers 125, European Bank for Reconstruction and Development, Office of the Chief Economist.

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