PII | S086904990013608-0-1 |
DOI | 10.31857/S086904990013608-0 |
Publication type
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Article
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Status
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Approved
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Authors |
Affiliation: Professor of MGIMO-University
Acting Director of the Institute of Scientific Information for Social Sciences, Russian Academy of Sciences
Address: Moscow, 76, Vernadskogo avenue, 119454, Moscow, Russian Federation; Moscow, 15-2, Krzhizhanovskogo Str., 117218, Moscow, Russian Federation
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Abstract | The article considers the specifics of Russian foreign direct investment outflows in 2018 – the first half of 2020. Three main reasons for the new stagnation of Russian foreign investment expansion are identified: 1) the strengthening of “sanctions war” with the West after the election of Vladimir Putin for the 4th presidential term; 2) the slowdown in the global economy in 2018-2019 against the background of relatively low prices for hydrocarbons and other raw materials exported from Russia; and 3) the crisis caused by the coronavirus pandemic in 2020. These factors resulted in a reduction of both outward foreign direct investment stocks by Russian MNEs (partially due to revaluation of their assets after the collapse of the ruble rate), and a decrease in investments of wealthy Russians in foreign real estate as well as pseudo-foreign investment because of the regular attempts to conduct de-offshorization. Based on a study conducted at INION within the framework of the international program for studying MNEs from emerging markets, a list of leading Russian non-financial MNEs by the end of 2019 is presented. Further prospects of Russian direct investment are shown at the end of the article. |
Keywords | foreign direct investment, FDI, Russian multinational enterprises, MNEs, FDI statistics, investments in foreign real estate, round-tripping FDI, “sanctions war” with the West, effects of the coronavirus pandemic on the economy |
Received | 28.01.2021 |
Number of characters | 34375 |
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