Foreign direct investment and regional economic development in Russia: an econometric assessment

Iwasaki, Ichiro; Suganuma, Keiko

doi:10.1007/s10644-015-9161-y

Cited by 50 publications

(26 citation statements)

References 46 publications

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“…In line with Ledyaeva and Linden () and Iwasaki and Suganuma (), FDI had a positive influence on the economic growth in Russian regions although, as these authors indicate, this effect is subject to the regions’ absorptive capacity. Indeed, FDI is a critical channel for knowledge diffusion in Russia: a rise in the share of FDI in GRP by 1 pp increases the rate of growth of GRP per capita by 0.100–0.103 pp.…”

Section: Resultssupporting

confidence: 70%

“…The role of foreign direct investment (FDI) as a critical channel for knowledge diffusion in Russia was studied by Untura () and Ledyaeva, Karkhunen, Kosonen, and Ponomarev (); the hypothesis that Russia's performance was influenced by the utilization of the knowledge tested by Ahrend (), Brock (), Ledyaeva and Linden (), Ledyaeva et al (), and Iwasaki and Suganuma (). They demonstrated that FDI from developed countries is related to the purchase of novel and high‐tech equipment to a greater extent than FDI from developing countries (Naumova & Oleynik, ).…”

Section: Introductionmentioning

confidence: 99%

“…However, the volume of FDI is still critically low (Ledyaeva et al, ) and thus affected the economic performance of only some regions of Russia, not the country as a whole (Ahrend, ; Ledyaeva & Linden, ). Iwasaki and Suganuma () detected a robust and positive synergetic effect between FDI and R&D potential of the Russian regions, indicating that absorptive capacity is essential for linking FDI and regional economic development in Russia.…”

Section: Introductionmentioning

confidence: 99%

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The impact of R&D and knowledge spillovers on the economic growth of Russian regions

Kaneva

Унтура

2018

Growth and Change

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Russia presents an interesting case of a country which has strived to implement innovation policies since the transition period but so far has achieved mixed results. This study aims to analyze the impact of knowledge production and knowledge spillovers on regional growth in Russia within a framework of endogenous growth models. Applying GMM and spatial error panel modeling techniques to Rosstat data for 80 Russian regions from 2005 to 2013, the authors test the hypothesis about the relevance of R&D and expenditure on technological innovations (H1) and the hypothesis about the relevance of knowledge spillovers (H2) on the growth rates of GRP per capita. Hypothesis 1 was confirmed while Hypothesis 2 was rejected, indicating the absorptive capacities of innovatively lagging regions were not high enough for effective adaptation of new technologies from technologically innovative regions. Inclusion of indicators related to additional channels of knowledge diffusion in regressions resulted in the relevance of FDI and imports of goods and services for regional growth. Results of the study could form the basis for developing innovation policies for the Russian regions.

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Section: Resultssupporting

confidence: 70%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The impact of R&D and knowledge spillovers on the economic growth of Russian regions

Kaneva

Унтура

2018

Growth and Change

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“…The results support the important role played by foreign direct investment in promoting productivity growth, which proves to be robust to several alternative specifications. Iwasaki and Suganuma (2015) estimated the remarkable role of FDI in regional economic development in Russia. They found that the positive effect of FDI on total factor productivity (TFP) may increase in regions that received larger amounts of foreign capital.…”

Section: The Overview Of Factors Of Regional Economic Growthmentioning

confidence: 99%

Patterns of Inequality of Lithuanian Regions

Maknickienė

Lapinskaitė

Miečinskienė

et al. 2018

Journal of Business Economics and Management

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Though a country᾽s economy is growing, separate regional development disparities could be even more significant. This paper aims to identify the situation of inequality of Lithuania᾽s regions, taking into consideration the most important factors of regional economic growth and investments. Evaluation of regions by 15 criteria is carried out by a ranking method. Results show a big disparity between regions. Significant Spearman correlation is found between FDI and total investment with all investigated group of factors of economic growth in the group of City Municipalities, but in the group of District Municipalities, it differs. Four scenarios for regional policy formation were distinguished.

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“…Various empirical studies conducted in Russia, Eastern Europe, China and other countries show the important role of investment in regional economic development. In particular, foreign direct investment has a positive effect on economic growth, labor productivity and the development of innovation (Dairabayeva et al 2016, Hafner and Kleinert 2018, Iwasaki and Suganuma 2015.…”

Section: Introductionmentioning

confidence: 99%

Import of Institutions as an Approach to Investment Climate Reform: Evidence from Russia

Pakhalov¹

2020

AJbE

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Institutional quality has a significant impact on indicators of investment activity both at the national and regional level. Studies show that regions of Russia with a more favorable institutional environment attract more foreign direct investements (FDI). In 2012 the Russian government introduced the reform package called the Regional Investment Standard that involves import of economic institutions and best investment climate practices from the advanced regions of Russia to the less developed ones. This paper aims to provide an empirical assessment of the effectiveness of the Regional Investment Standard. The study is based on a unique dataset collected during a series of polls and structured interviews with investors and government officials in nine Russia's regions. The results of the study show that reduction of administrative barriers for investors is the most significant result of this reform package. However, the Regional Investment Standard does not have any positive impact on the level of investors' rights protection and does not create the necessary tax incentives for investors. We consider it expedient to create for each region an individual reform plan in the form of supplement to the Regional Investment Standard. It is also necessary to organize at the federal level a system of stimulating and monitoring the implementation of reforms. (JEL H77, P48, R58)

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Foreign direct investment and regional economic development in Russia: an econometric assessment

Cited by 50 publications

References 46 publications

The impact of R&D and knowledge spillovers on the economic growth of Russian regions

The impact of R&D and knowledge spillovers on the economic growth of Russian regions

Patterns of Inequality of Lithuanian Regions

Import of Institutions as an Approach to Investment Climate Reform: Evidence from Russia

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