Foreign Direct Investment in Russia: A Strategy for Industrial Recovery

By Paul Fischer | Go to book overview

northern hemisphere country, disposes of a huge landmass (second largest in the world in terms of territory) and has a large resource base like Russia. Its raw materials processing industries (wood processing, metal and raw materials extraction and processing equipment, chemicals) could supply technology and know-how relevant to Russia's needs. Many Canadian TNCs invest abroad indirectly under piggy-back schemes as suppliers of components or semimanufacturers to US multinationals (automobile or computer sectors). But Canada's own TNCs are in a position to take their own investment decisions and are committed to strengthen their position in the world's large emerging markets.

Finally, in Asia, South Korea could be another interesting target. Large TNCs like Samsung, Hyundai, Lucky Goldstar (LG) and Daewoo have remained foreign investors in spite of the crisis that hit the economy at the end of 1997. South Korea offers interesting technologies in automobiles, shipbuilding, electronics, metal working (iron and steel) and machine building.


Notes
1
Chapter 3.2.
2
Chapter 11.
3
Chapters 8.3 and 12.
4
G5: France, Germany, Japan, United Kingdom, United States; G7: G5 plus Canada and Italy.
5
Developing countries (e.g. Cuba, India, Vietnam, Laos) owe Russia an estimated US$100 billion. This outstanding debt was a major reason for Russia's admission to the G7.
6
Boris Rodyonov, 'schto sulit racschirenyie Evrosoyuza na Vostok' [Eastward expansion of the European Union], Modus vivendi, 1(2), 1998.
7
An increasing number of US and Canadian TNCs use their western European headquarters for expanding their business eastward to Russia and the CIS.
8
A trade and investment agreement was signed between Russia and Italy on 10 February 1998 during President Yeltsin's visit to Rome. Since the financial crash, international policy-makers have turned their attention to general issues (e.g. debt repayment, customs, certification) instead of paving the way for FDI-oriented projects to save Russia's economy.
9
Chapter 13.4.3.
10
All EU countries together host tens of thousands of SMEs, which could be approached systematically by the Russian authorities.
11
Chapter 16.3.
12
Currently, Russia is in a weaker position in terms of inward FDI. In 1996, companies from the G5 countries invested much more in the other important LEMs: China, India, Brazil, Mexico. Increasingly, other emerging economies are signing bilateral investment agreements with Russia. A recent example is Argentina; see 'Argentina signs agreement with Russia', Expert, no. 24, 29 July 1998, p. 5.
13
For current economic performance and key players in LEMs, refer to Chapters 5–7 and 10.3.

-449-

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Foreign Direct Investment in Russia: A Strategy for Industrial Recovery
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • List of Figures xiv
  • List of Tables xviii
  • List of Boxes xx
  • List of Maps xxi
  • Foreword xxiii
  • Preface xxv
  • A Word from the Author xxvii
  • List of Acronyms xxix
  • Introduction: Background and Rationale of the Study 1
  • Notes 13
  • Part I - Fdi Theories and Policy Implications 17
  • 1 - Overview of Main Fdi Theories 19
  • Notes 44
  • Part II - Global Fdi Potential and Opportunities for the Russian Economy 47
  • 2 - Determinants of Global Fdi 51
  • Notes 76
  • 3 - Global Fdi Trends 79
  • Notes 114
  • 4 - Tncs as Global Investors 116
  • Notes 130
  • Annex 4.1 the World's Top 100 Tncs Ranked by Foreign Assets, 1996 132
  • Annex 4.2 Top 50 Tncs of Emerging Economies, 1996 138
  • Part III - Fdi as the Catalyst for Industrial Transformation in Selected Large Emerging Markets 143
  • 5 - Fdi Policies and Prospects in China 147
  • Notes 194
  • 6 - Fdi Policies and Prospects in India 197
  • Notes 237
  • 7 - Fdi Policies and Prospects in Mexico 241
  • Notes 269
  • Part IV - Russia's Key Industries and Fdi Achievements in the 1990s 273
  • 8 - Russia's Economic and Industrial Performance During Transition 274
  • Notes 313
  • 9 - Salient Features of Fdi in Russia 315
  • Notes 336
  • Part V - Towards a Long-Term Fdi Strategy for Russia 339
  • 10 - Strategic State Guidance for Fdi 341
  • Notes 354
  • 11 - Russia and Its Competitor Lems 356
  • Notes 375
  • 12 - The Competitiveness of Russian Industry at the Threshold of the Twenty-First Century 377
  • Notes 403
  • 13 - Fdi Sourcing Potential in the World's Leading Economies 405
  • Notes 449
  • 14 - Strategic Target Setting for Russian Fdi During 2000–05 452
  • Notes 461
  • Part VI - Policy Instruments for Enhancing Fdi During 2000–05 463
  • Notes 465
  • 15 - Framework Conditions for Foreign Investors 467
  • Notes 478
  • 16 - Fdi-Related Policy Instruments 481
  • Notes 528
  • 17 - Institution-Building and Fdi Agenda 534
  • Notes 547
  • Appendix: Definitions and Explanatory Notes 549
  • Bibliography and Selected Reading 557
  • Index 565
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