Foreign direct investment spillovers in the Russian economy: The results of empirical estimation

Author:

Drapkin I. M.1,Lukyanov S. A.2

Affiliation:

1. Ural Federal University

2. State University of Management; St. Petersburg State University

Abstract

The paper is devoted to the foreign direct investment (FDI) spillovers in the Russian economy. Using the database on 29,817 Russian enterprises for the period of 2006—2014, we empirically estimate FDI spillovers on both intra-industry and inter-industry levels. We show that the intra-industry effects and upstream inter-industry effects have the non-linear U-shape dependence on the share of foreign companies in the industry, while downstream inter-industry effects are linear and negative. Analysing regional factors influencing FDI spillovers in the Russian economy, we find stronger effects in the regions with higher level of human capital and higher level of innovation activity. We do not find the proof for the hypothesis that FDI spillovers are stronger in the western part of Russia comparing to the eastern part.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference31 articles.

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2. Kadochnikov S. M., Fedyunina A. A. (2017). Vliyanie kompanii s inostrannymi investitsiyami na eksportnuyu aktivnost' rossiiskikh firm: razmer imeet znachenie // Voprosy ekonomiki. № 12. S. 96—119. [Kadochnikov S. M., Fedyunina A. A. (2017). The impact of foreign direct investment on export activity of Russian firms: The size matters. Voprosy Ekonomiki, No. 12, pp. 96—119. (In Russian).] https://doi.org/10.32609/0042-8736-2017-12-96-119

3. Luk'yanov S. A., Drapkin I. M. (2017). Global'nye tsepochki sozdaniya stoimosti: effekty dlya integriruyushcheisya ekonomiki // Mirovaya ekonomika i mezhdunarodnye otnosheniya. № 4 (61). S. 14—23. [Lukyanov S. A., Drapkin I. M. (2017). Gloval value chains: effects for the integrating economy. World Economy and International Relations, No. 4 (61), pp. 14—23. (In Russian).]

4. Abraham F., Konings J., Slootmaekers V. (2010). FDI Spillovers, Firm Heterogeneity and Degree of Ownership: Evidence from Chinese Manufacturing. Economics of Transition, Vol. 18, No. 1, pp. 143—182.

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