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Structural Changes in the Russian Outward Banking Foreign Direct Investment

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  • Victor Gorshkov

    (Faculty of International Liberal Arts, Kaichi International University)

Abstract

Following recent government initiatives, such as the shift (turn) to the East and the possibility of establishing new economic and investment cooperation with the Asia-Pacific region and other regions, proposed in conditions of financial and economic sanctions imposed towards Russia by the West, the study aims to evaluate whether any significant structural changes in the Russian outward banking foreign direct investment emerged in 2013-17 as the result of the proposed initiatives. By analyzing both the macro-picture of outward banking foreign direct investment and behavioral patterns of Russian banks since 1990s, the study found that only a marginal number of Russian banks, comprising of large state-owned banks, banks closely related to the natural resource-type Russian multinational corporations, and large private banks, have the capacity to expand their operations abroad. While the increasing presence of the natural resource-type Russian multinational corporations in the Asian and African regions is slowly luring Russian banks into these markets, drastic structural changes in the outward banking foreign direct investment are unachievable in the short-term. The geographical distribution of Russian banks remains unchanged with offshore financial centers, Europe, and the Commonwealth of Independent States being the traditional destinations of Russian outward banking foreign direct investment.

Suggested Citation

  • Victor Gorshkov, 2017. "Structural Changes in the Russian Outward Banking Foreign Direct Investment," KIER Working Papers 977, Kyoto University, Institute of Economic Research.
    • Handle: RePEc:kyo:wpaper:977
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    File URL: http://www.kier.kyoto-u.ac.jp/DP/DP977.pdf
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    References listed on IDEAS

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    1. Svetlana Ledyaeva & Päivi Karhunen & Riitta Kosonen & John Whalley, 2015. "Offshore Foreign Direct Investment, Capital Round-Tripping, and Corruption: Empirical Analysis of Russian Regions," Economic Geography, Taylor & Francis Journals, vol. 91(3), pages 305-341, July.
    2. Andrei Panibratov & Cyril Verba, 2011. "Russian Banking Sector: Key Points of International Expansion," Organizations and Markets in Emerging Economies, Faculty of Economics, Vilnius University, vol. 2(1).
    3. Satoshi Mizobata, 2014. "Emerging Multinationals in Russia," KIER Working Papers 899, Kyoto University, Institute of Economic Research.
    4. Svetlana Ledyaeva & Päivi Karhunen & Riitta Kosonen & John Whalley, 2015. "Offshore Foreign Direct Investment, Capital Round-Tripping, and Corruption: Empirical Analysis of Russian Regions," Economic Geography, Clark University, vol. 91(3), pages 305-341, July.
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    More about this item

    JEL classification:

    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F30 - International Economics - - International Finance - - - General
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • P29 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Other
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid

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