IDEAS home Printed from https://ideas.repec.org/a/spr/sorede/v34y2023i4d10.1134_s1075700723040081.html
   My bibliography  Save this article

Outward and Inward Foreign Direct Investments: History of Major Russian Losses Since the Beginning of the 20th Century

Author

Listed:
  • A. V. Kuznetsov

    (Moscow State Institute of International Relations
    Institute of Scientific Information on Social Science)

Abstract

— The article schematically traces the history of Russia/USSR participation in the cross-border movement of foreign direct investment (FDI) from the end of the 19th century to 2022. It is shown that FDI inflows abruptly ended during the period of nationalization after the October Revolution of 1917. Although during the NEP there was a slight revival in concessions, a real recovery in FDI inflows began in 1989. So far, Russia has attracted few FDI for its size, and the events of 2022 will set it back again, making it difficult to accelerate technological modernization. FDI outflows from the country almost never stopped, although they were ideologically limited during the Soviet period. Small losses of Russian FDI due to external shocks have occurred periodically since the Russo-Japanese War of 1904–1905, but the most serious reductions in outward FDI are due to political moves initiated by Russia itself: the October Revolution in 1917, the transfer of assets to friendly countries in the first half of the 1950s, the “squandering” of Soviet property in the early 1990s, and the consequences of the reunification of Crimea in 2014.

Suggested Citation

  • A. V. Kuznetsov, 2023. "Outward and Inward Foreign Direct Investments: History of Major Russian Losses Since the Beginning of the 20th Century," Studies on Russian Economic Development, Springer, vol. 34(4), pages 450-455, August.
    • Handle: RePEc:spr:sorede:v:34:y:2023:i:4:d:10.1134_s1075700723040081
    DOI: 10.1134/S1075700723040081
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1134/S1075700723040081
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1134/S1075700723040081?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Alexei V. Kuznetsov, 2011. "The Development of Russian Multinational Corporations," International Studies of Management & Organization, Taylor & Francis Journals, vol. 41(4), pages 34-50, January.
    2. K. Kalotay & A. Sulstarova, 2021. "FDI in the Post-Soviet Space Three Decades after the Disintegration of the Soviet Union," Outlines of global transformations: politics, economics, law, Center for Crisis Society Studies, vol. 14(5).
    3. A. Bulatov., 2017. "Russia in international capital movement: Turn of tendencies," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
    4. Wladimir Andreff, 2003. "The newly emerging TNCs from economies in transition: a comparison with Third World outward FDI," Post-Print halshs-00274654, HAL.
    5. A. N. Bordovskikh, 2022. "Expropriation in the 21st Century – New Challenge for Political Risk Analysis," Outlines of global transformations: politics, economics, law, Center for Crisis Society Studies, vol. 15(1).
    6. Martin Kragh, 2023. "Nationalisation of foreign property in the Russian revolution: the Swedish case," Scandinavian Economic History Review, Taylor & Francis Journals, vol. 71(1), pages 21-35, January.
    7. A. Bulatov, 2017. "Russia in international capital movement: Turn of tendencies," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 5.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cantner, Uwe & Günther, Jutta & Hassan, Sohaib Shahzad & Jindra, Björn, 2013. "Outward FDI from the Central and Eastern European Transition Economies – A Discrete Choice Analysis of Location Choice within the European Union," MPRA Paper 51817, University Library of Munich, Germany, revised 04 Jun 2013.
    2. Alessia Amighini & Claudio Cozza & Elisa Giuliani & Roberta Rabellotti & Vittoria Scalera, 2015. "Multinational enterprises from emerging economies: what theories suggest, what evidence shows. A literature review," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 42(3), pages 343-370, September.
    3. Wang, Chengqi & Hong, Junjie & Kafouros, Mario & Boateng, Agyenim, 2012. "What drives outward FDI of Chinese firms? Testing the explanatory power of three theoretical frameworks," International Business Review, Elsevier, vol. 21(3), pages 425-438.
    4. Barnard, Helena & Luiz, John M., 2018. "Escape FDI and the dynamics of a cumulative process of institutional misalignment and contestation: Stress, strain and failure," Journal of World Business, Elsevier, vol. 53(5), pages 605-619.
    5. Narula, Rajneesh, 2010. "Much ado about nothing, or sirens of a brave new world?: MNE activity from developing countries and its significance for development," MERIT Working Papers 2010-021, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    6. Wladimir Andreff & Madeleine Andreff, 2017. "Multinational companies from transition economies and their outward foreign direct investment," Post-Print hal-03207032, HAL.
    7. Yanfeng Liu & Xue Li & Xiaonan Zhu & Min-Kyu Lee & Po-Lin Lai, 2023. "The theoretical systems of OFDI location determinants in global north and global south economies," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-13, December.
    8. Andreff, Wladimir & Andreff, Madeleine, 2017. "Multinational companies from transition economies and their outward foreign direct investment," Russian Journal of Economics, Elsevier, vol. 3(4), pages 445-474.
    9. Marta Gotz, 2013. "Exploring Foreign Direct Investment From Poland Using Grounded Theory Method," Oeconomia Copernicana, Institute of Economic Research, vol. 4(2), pages 73-96, June.
    10. Iskra Hristova-Balkanska, 2005. "The Possible Effects of Foreign Direct Investments on the Southeastern European Countries in the Context of the EU Enlargement," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 7, pages 95-114.
    11. Wladimir Andreff, 2017. "New-Wave Emerging Multinational Companies: The Determinants of Their Outward Foreign Direct Investment," Post-Print hal-03231804, HAL.
    12. Kuznetsov, Alexey, 2010. "Urgent tasks for research on Russian TNCs," MPRA Paper 42702, University Library of Munich, Germany.
    13. Wladimir Andreff, 2014. "Outward foreign direct investment by Brazilian and Indian multinational companies: comparison with Russian-Chinese multinationals," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01279896, HAL.
    14. Safet Kurtović & Nehat Maxhuni & Blerim Halili & Arta Maxhuni, 2024. "Effect of Host Country Determinants and Institutional Quality on Outward Foreign Direct Investment from Central, Eastern and South-Eastern Europe," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 13272-13308, September.
    15. Valeria, Gattai & Rajssa, Mechelli & Piergiovanna, Natale, 2016. "FDI and Heterogeneous Firms: Evidence from BRIC Countries," Working Papers 322, University of Milano-Bicocca, Department of Economics, revised 18 Jan 2016.
    16. Wladimir Andreff, 2017. "New-Wave Emerging Multinational Companies: The Determinants of Their Outward Foreign Direct Investment," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03231804, HAL.
    17. Narula, Rajneesh & Nguyen, Quyen T.K., 2011. "Emerging country MNEs and the role of home countries: separating fact from irrational expectations," MERIT Working Papers 2011-021, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    18. Dohse, Dirk & Hassink, Robert & Klaerding, Claudia, 2012. "Emerging multinationals, international knowledge flows and economic geography: A research agenda," Kiel Working Papers 1776, Kiel Institute for the World Economy (IfW Kiel).
    19. Bykova, Anna & Jardon, Carlos M., 2017. "Lean against the wind: The moderation effect of foreign investments during the economic recession in Russia," Journal of Economics and Business, Elsevier, vol. 93(C), pages 1-14.
    20. Csaba Weiner, 2017. "International expansion of Russian multinationals - a focus on home-country push factors, Europe and five CEE countries," IWE Working Papers 236, Institute for World Economics - Centre for Economic and Regional Studies.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sorede:v:34:y:2023:i:4:d:10.1134_s1075700723040081. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.