1st Edition

The Russian Economy and Foreign Direct Investment

    296 Pages
    by Routledge

    296 Pages 37 B/W Illustrations
    by Routledge

    Before the recent Ukrainian crisis, Russia was one of the main sources of foreign direct investment (FDI) outflow and one of the main targets of FDI inflow in the world. However, the events in the Ukraine, the formation of the Eurasian Economic Union, and China’s growing interest in the Russian market and its natural resources have changed the picture completely.

    This new book brings together an international group of contributors to present a timely and comprehensive analysis of FDI to and from Russia. The book assesses the impact of the changed international political situation on foreign firms operating in Russia, and explores how the new world context has affected Russian investments abroad. The book also considers the future relationship between Russian corporations and the EU and the USA in light of recent events. This book answers an array of key questions including: how have investments from and to Russia developed in the last 100 years; how are Russian businesses spreading to foreign countries through their indirect investments; and how is the Russian Government influencing the investments of Russian businesses abroad?

    This volume is of great interest to those who study international economics, modern world economy, and FDI, as well as those interested in international investment movements and the changing role of Russia in international business and the global economy.


    List of Figures

    List of Tables

    About the Contributors

    Abbreviations and Acronyms

    1 Introduction

    Kari Liuhto

    2 Global FDI Trends

    Jean-Marc F. Blanchard

    3 Maturing Strategies of Russian Multinational Companies:

    A Historical Perspective

    Wladimir Andreff

    4 Investment Relations between Russia and the USA

    Alexey Kuznetsov

    5 Do Formal Institutions Really Matter for Foreign Direct Investments to the Russian Federation? The Case of FDI Flows from the European Union to Russia

    Sergei Sutyrin and Olga Trofimenko

    6 Investment Relations between Sweden and Russia

    Torbjörn Becker

    7 Russian FDI in Finland: Empirical Evidence from a Knowledge-Driven Investment

    Kari Liuhto and Elisa Aro

    8 Russian Indirect Investment in the Estonian Information and Communications Technology Sector

    Alari Purju

    9 Political Risk of Western Oil and Gas Investments in Russia: Review of Media Coverage on ExxonMobil and Total in the Russian Arctic

    Hanna Mäkinen and Eini Haaja

    10 Russian Foreign Direct Investments in the Eurasian Economic Union

    Elena Efimova and Vladimir Sherov-Ignatev

    11 Outward Investments from China and Russia: The Case of the Sino-Russian Investment Relationship

    Andrei Panibratov and Liubov Ermolaeva

    12 Investment Cooperation between Russia and the Republic of Korea during 1999–2009:

    Major Trends and Main Lessons

    Irina A. Korgun

    13 Turkish Multinationals in Russia

    Caner Bakır and Nuran Acur

    14 Russian Outward Foreign Direct Investments in Latin America: Contemporary Challenges and Prospects

    Alexandra Koval

    15 Does Ownership Matter in an OFDI Decision of a Russian Firm? The Case of Russia’s Ten Largest Investors Abroad

    Kari Liuhto

    16 Conclusion

    Sergei Sutyrin



    Kari Liuhto is Professor of International Business at the Turku School of Economics, the University of Turku, Finland.

    Sergei Sutyrin is Professor and Head of the World Economy Department, Saint Petersburg State University, and the WTO chair holder since 2010.

    Jean-Marc F. Blanchard is Distinguished Professor at the School of Advanced International and Area Studies, East China Normal University, China, and Executive Director at the Mr. & Mrs. S.H. Wong Center for the Study of Multinational Corporations, USA.

    Foreign Direct Investment in China – Deng, 2011, 149 hardback, 26 paperback, 53 ebooks, 228 / £12,064 total

    The Political Economy of Putin’s Russia- Sutela, 2012, 335 hardbacks, 43 paperbacks, 121 ebooks, 499/ £24,985 total

    Russia Moves into the Global Economy- Letiche, 2007, 389 hardbacks, 75 paperbacks, 226 ebooks, 690/ £18,327 total