Foreign Direct Investment in Russia: A Strategy for Industrial Recovery

By Paul Fischer | Go to book overview
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Chapter 8.2
See also 'Nastoyashiye Russkoye Varenye' [Real Russian-made jam], Itogi, 10 November 1998, pp. 54–6.
Chapter 9.1
Chapter 9.3
Recently, positive signals have also been given by Russian courts, which have passed judgements in favour of western companies (e.g. Microsoft) in copyright cases and against their Russian joint venture partners.
Chapters 16.3, 16.4 and 16.5.
Capacity levels in most industries have dropped to precariously low levels endangering the survival of many key enterprises in the regions. See also Chapter 8.2.2.
See strategic concept suggested in Part V.
P. Fischer, Enterprise Survey Evaluation and Conclusions for the Strategic Orientations and Launch of an International Consultancy Agency, internal report, MESI, Moscow, July 1996.
Chapters 8.1 to 8.4. The economic and industrial overview proposed here is certainly not exhaustive and should therefore be refined, especially at sector and enterprise levels, during policy implementation.
Chapter 14.
Chapter 9.4.
Chapters 13 and 16.
150–200 per cent during 1995 and 1996. The situation started improving in 1997, when annual interest on loans dropped to 30 per cent in certain banks.
OECD, Russian Investment Guide, 1996, p. 40.
The growth forecast was revised downward, to –5 per cent as a direct consequence of the financial crisis.
This forecast had to be revised following the 1998 financial crisis.
Chapter 8.2.3.
Chapter 8.1.2.
By the end of 1998, foreign reserves fell to only US$12 billion as a consequence of the financial crash.
Part VI.
Russia's share of world imports fell to about 0.8 per cent in 1998 following a fourfold rouble devaluation.
Paradoxically, Russia's foreign currency reserves no longer grow despite a comfortable trade surplus. Apparently, Russia's official imports are highly underestimated as about one-quarter of shipments are not declared. M. Sarafanov, Mogila Ispravit [Hopeless situation], Expert, 5 July 1999, p. 16.
In 1998, Russia's foreign trade volume fell by 17 per cent, but the country still reported a comfortable trade balance of US$13 billion (exports: US$73 billion; imports: US$60 billion), which should help ease debt servicing while launching a long-term industrial development policy.
First signs of deterioration became visible in early 1998, when world oil prices dropped to unprecedented low levels reducing Russia's import revenue by almost 30 per cent. Oil prices are volatile even if they rose again in 1999.
Based on the methodology developed by the International Labour Office (ILO).


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Foreign Direct Investment in Russia: A Strategy for Industrial Recovery
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