Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods
Using a spatial autoregressive model of cross-sectional and panel data, we study the determinants and dominant strategies of FDI inflows into Russia before and after the 1998 financial crisis. The important determinants of FDI inflows into Russian regions since transition began appear to be market s...
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Helsinki: Bank of Finland, Institute for Economies in Transition (BOFIT)
2007
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ftzbwkiel:oai:econstor.eu:10419/212606 2024-01-14T10:10:18+01:00 Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods Ledyaeva, Svetlana 2007 http://hdl.handle.net/10419/212606 eng eng Helsinki: Bank of Finland, Institute for Economies in Transition (BOFIT) Series: BOFIT Discussion Papers No. 15/2007 urn:isbn:978-952-462-877-8 gbv-ppn:538198222 URN:NBN:fi:bof-201408072192 http://hdl.handle.net/10419/212606 RePEc:zbw:bofitp:bdp2007_015 http://www.econstor.eu/dspace/Nutzungsbedingungen ddc:330 F21 E22 C21 Foreign Direct Investment Russian regions FDI strategy spatial autoregressive model doc-type:workingPaper 2007 ftzbwkiel 2023-12-18T00:46:26Z Using a spatial autoregressive model of cross-sectional and panel data, we study the determinants and dominant strategies of FDI inflows into Russia before and after the 1998 financial crisis. The important determinants of FDI inflows into Russian regions since transition began appear to be market size, the presence of large cities and sea ports, oil and gas availability, and political and legislative risks. Since 1998, it appears the importance of big cities, the Sakhalin region, oil and gas resources and legislation risk has increased, while the importance of political risk and port availability has decreased. Our results also reveal a shift from horizontal FDI strategy to a regional trade-platform FDI strategy. While theory anticipates combined vertical and horizontal motives for regional trade-platform strategies, the lack of evidence of a vertical motive in the Russian case suggests import substitution presently plays a significant role in regional trade-platform FDI. Using a multiple spatial lags approach, we show that neighbouring regions with ports have emerged post-crisis as competitors for FDI and identify agglomeration effects in FDI between adjacent regions with and without ports during the period 1999-2002. Report Sakhalin EconStor (German National Library of Economics, ZBW) |
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EconStor (German National Library of Economics, ZBW) |
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ftzbwkiel |
language |
English |
topic |
ddc:330 F21 E22 C21 Foreign Direct Investment Russian regions FDI strategy spatial autoregressive model |
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ddc:330 F21 E22 C21 Foreign Direct Investment Russian regions FDI strategy spatial autoregressive model Ledyaeva, Svetlana Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods |
topic_facet |
ddc:330 F21 E22 C21 Foreign Direct Investment Russian regions FDI strategy spatial autoregressive model |
description |
Using a spatial autoregressive model of cross-sectional and panel data, we study the determinants and dominant strategies of FDI inflows into Russia before and after the 1998 financial crisis. The important determinants of FDI inflows into Russian regions since transition began appear to be market size, the presence of large cities and sea ports, oil and gas availability, and political and legislative risks. Since 1998, it appears the importance of big cities, the Sakhalin region, oil and gas resources and legislation risk has increased, while the importance of political risk and port availability has decreased. Our results also reveal a shift from horizontal FDI strategy to a regional trade-platform FDI strategy. While theory anticipates combined vertical and horizontal motives for regional trade-platform strategies, the lack of evidence of a vertical motive in the Russian case suggests import substitution presently plays a significant role in regional trade-platform FDI. Using a multiple spatial lags approach, we show that neighbouring regions with ports have emerged post-crisis as competitors for FDI and identify agglomeration effects in FDI between adjacent regions with and without ports during the period 1999-2002. |
format |
Report |
author |
Ledyaeva, Svetlana |
author_facet |
Ledyaeva, Svetlana |
author_sort |
Ledyaeva, Svetlana |
title |
Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods |
title_short |
Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods |
title_full |
Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods |
title_fullStr |
Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods |
title_full_unstemmed |
Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods |
title_sort |
spatial econometric analysis of determinants and strategies of fdi in russian regions in pre- and post-1998 financial crisis periods |
publisher |
Helsinki: Bank of Finland, Institute for Economies in Transition (BOFIT) |
publishDate |
2007 |
url |
http://hdl.handle.net/10419/212606 |
genre |
Sakhalin |
genre_facet |
Sakhalin |
op_relation |
Series: BOFIT Discussion Papers No. 15/2007 urn:isbn:978-952-462-877-8 gbv-ppn:538198222 URN:NBN:fi:bof-201408072192 http://hdl.handle.net/10419/212606 RePEc:zbw:bofitp:bdp2007_015 |
op_rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
_version_ |
1788064977356062720 |