In the section Articles
Title of the article Correlation Between News Background and Fdi Inflows in Russian Regions
Pages 75-92
Author 1 Elena Anatolyevna Fedorova
Doctor of Economics, Professor
Financial University under the Government of the Russian Federation National Research University Higher School of Economics
49 Leningradskiy Prospekt, Moscow, Russia, 125993 20 Myasnitskaya Street, Moscow, Russia, 101000
This email address is being protected from spambots. You need JavaScript enabled to view it.
Author 2 Fedor Yuryevich Fedorov
Postgraduate Student
Financial University under the Government of the Russian Federation
49 Leningradskiy Prospekt, Moscow, Russia, 125993
This email address is being protected from spambots. You need JavaScript enabled to view it.
Author 3 Anton Victorovich Tolkachev
Postgraduate Student
Financial University under the Government of the Russian Federation
49 Leningradskiy Prospekt, Moscow, Russia, 125993
This email address is being protected from spambots. You need JavaScript enabled to view it.
Abstract The authorsinvestigate the connection between regional FDI inflows and news background concerning investment process. The authors examined 3 million regional news items. Then they rated Russian regions by negative or positive investment news and calculated news indices. Using panel data for 80 Russian regions (GRP; number of enterprises and organizations; fixed capital investment; regional FDI inflows; regional rating by fixed capital investment per capita in 2014) and news indices the researchers assessed correlation between mentioned variables. The study shows that information on FDI origin countries has little impact on regional inflows while positive regional investment news is much more important. The results also indicate that foreign investors prefer regions with low competition and low investments in fixed capital
Code 339
DOI 10.14530/se.2016.4.075-092
Keywords investment ♦ foreign direct investment ♦ marketing ♦ news background ♦ regional policy ♦ subject of the Russian Federation
Download SE.2016.4.075-092.Fedorova.pdf
For citation Fedorova E.A., Fedorov F.Y., Tolkachev A.V. Correlation Between News Background and Fdi Inflows in Russian Regions. Prostranstvennaya Ekonomika = Spatial Economics, 2016, no. 4, pp. 75-92. DOI: 10.14530/se.2016.4.075-092. (In Russian).
References 1. BEZFORMATA.RU. Available at: bezformata.ru (accessed January – March 2016).(In Russian).
2. Vasilevskaya S.V. Organizational and Economical Aspects of FDI Management in a Region with the Purpose of Development of Entrepreneurial Activity. Vestnik Tikhookeanskogo Gosuderstvennogo Universiteta – Bulletin of PNU, 2010, no. 3, pp. 193–198. (In Russian).
3. Gladysheva A.A., Ratnikova T.A. The Role of Regional Heterogeneity and Interdependence in the FDI Distribution in Russian Food Industry. Ekonomicheskiy Zhurnal VSHE – HSE Economic Journal, 2014, vol. 18, no. 2, pp. 285–327. (In Russian).
4. Klinova M., Sidorova E. Economic Sanctions and EU-Russia Economic Relations. Voprosy Economiki [Economic Issue], 2014, no. 12, pp. 67–79. (In Russian).
5. Matraeva L.V. Forecasting of Foreign Direct Investments into the Regions of Russian Federation. Ekonomika, Statistika i Informatika. Vestnik UMO – Economics, Statistics and Informatics. Vestnik UMO, 2013, no. 5, pp. 172–176. (In Russian).
6. Regions of Russia. Socio-Economic Indicators: Statistical Collection. 2015. Federal The article was supported by the RFH project ‘Assessing the sanctions’ impact on the Russian economy’ (No. 15-02-00622). State Statistic Service of Russian Federation. 2016. Available at: http://www.gks.ru/bgd/regl/b15_14p/Main.htm (accessed June 2016). (In Russian).
7. Point of View of Investors. Assessment of Investment Climate in Russian Regions Through the Eyes of Foreign Investors. KPMG, RUIP, 2013, 103 p. Available at: http://www.kpmg.com/RU/ru/IssuesAndInsights/ArticlesPublications/Documents/Taking-the-Investor-Perspective_RU.pdf (accessed June 2016). (In Russian).
8. Fedorova Е.А. Factors Affecting the Inflow of Foreign Investment to the Regions. Regionalnaya Ekonomika: Teoriya i Praktika – Regional Economics: Theory and Practice, 2014, no. 43, pp. 51–62. (In Russian).
9. Fedorova Е.А., Korkmazova B.K., Muratov М.А. Assesing the Effectiveness of Joint Companies in Russia: Industry-Specific Features. Prostranstvennaya Ekonomika = Spatial Economics, 2015, no. 2, pp. 47–63. DOI: 10.14530/se.2015.2.047-063. (In Russian).
10. Fedorova Е.А., Levina A.M., Nikolaev A.E. Evaluating the Effectiveness of Companies with FDI in Russia: Regional Dimension. ECO – ECO, 2016, no. 1 (499), pp. 61–69.(In Russian).
11. Azman-Saini W.N.W., Law S.H., Ahmad A.H. FDI and Economic Growth: New Evidence on the Role of Financial Markets. Economics Letters, 2010, vol. 107, issue 2, pp. 211–213. DOI: 10.1016/j.econlet.2010.01.027
12. Belloumi M. The Relationship between Trade, FDI and Economic Growth in Tunisia: An Application of the Autoregressive Distributed Lag Model. Economic Systems, 2014, vol. 38, issue 2, pp. 269–287. DOI: 10.1016/j.ecosys.2013.09.002
13. Capik P. Organising FDI Promotion in Central – Eastern European Regions. Special Issue Paper Place Branding and Public Diplomacy, 2007, April, vol. 3, issue 2, pp. 152–163. DOI: 10.1057/palgrave.pb.6000058
14. Demir F. Effects of FDI Flows on Institutional Development: Does It Matter Where the Investors are From? World Development, 2016, vol. 78, pp. 341–359. DOI: 10.1016/j.worlddev.2015.10.001
15. Fahy J., Hooley G., Cox T., Snoj B. Foreign Direct Investment, Economic Transition and the Impact on Marketing Practice in Slovenia. The Academy of International Business Series. Palgrave Macmillan UK, 2000, pp. 221–237. DOI: 10.1057/9780230596740_11
16. Fan H., Kamran S.M., Li M. et al. Congestion Costs and Differences in the Regional Distribution of FDI in China. Qual Quant, 2016. DOI: 10.1007/s11135-016-0366-6
17. Fischer P. FDI Policies and Prospects in China. Foreign Direct Investment in Russia. A Strategy for Industrial Recover. Palgrave Macmillan UK, 2000, pp. 147–196. DOI:10.1057/9780333977590_6.
18. Ideas in Marketing: Finding the New and Polishing the Old. Proceedings of the 2013 Academy of Marketing Science (AMS) Annual Conference. Edited by K. Kubacki. Springer International Publishing, 2015. DOI: 10.1007/978-3-319-10951-0
19. Iwasaki I., Suganuma, K. Foreign Direct Investment and Regional Economic Development in Russia: An Econometric Assessment. Economic Change and Restructuring, 2015, vol. 48, issue 3, pp. 209–255. DOI: 10.1007/s10644-015-9161-y
20. Kayam S.S., Yabrukov A., Hisarciklilar M. What Causes the Regional Disparity of FDI in Russia? A Spatial Analysis. Transition Studies Review, 2013, vol. 20, issue 1, pp. 63–78. DOI: 10.1007/s11300-013-0272-8
21. Kim C., Chung J. Brand Popularity, Country Image and Market Share: An Empirical Study. Journal of International Business Studies, 1997, vol. 28, issue 2, pp. 361–386. DOI:10.1057/palgrave.jibs.8490105.
22. Lheem H.G., Guo S. Political Economy of FDI and Economic Growth in China: A Longitudinal Test at Provincial Level. Journal of Chinese Political Science, 2004, vol. 9, issue 1, pp. 43–62. DOI: 10.1007/BF02876956
23. Liu W.-H. et al. Domestic Impacts of Outward FDI in Taiwan: Evidence from Panel Data of Manufacturing Firms. International Review of Economics and Finance, 2015, vol. 39, pp. 469–484.
24. Metaxas T. Place Marketing, Place Branding and Foreign Direct Investments: Defining their Relationship in the Frame of Local Economic Development Process. Place Branding and Public Diplomacy, 2010, vol. 6, issue 3, pp. 228–243. DOI:10.1057/pb.2010.22.
25. Nistor P. FDI Implications on BRICS Economy Growth. Procedia Economics and Finance, 2015, vol. 32, pp. 981–985. DOI: 10.1016/S2212-5671(15)01557-9
26. Papadopoulos N., Heslop L . Country Equity and Country Branding: Problems and Prospects. Journal of Brand Management, 2002, vol. 9, issue 4, pp. 294–314. DOI: 10.1057/palgrave.bm.2540079
27. Pegkas P. The Impact of FDI on Economic Growth in Eurozone Countries. The Journal of Economic Asymmetries, 2015, vol. 12, issue 2, pp. 124–132. DOI: 10.1016/j.jeca.2015.05.001
28. Pereira A.S., Jalles J.T., Andresen M.A. Structural Change and Foreign Direct Investment: Globalization and Regional Economic Integration. Portuguese Economic Journal, 2012, vol. 11, issue 1, pp. 35–82. DOI:10.1007/s10258-011-0077-9.
29. Sethi D., Guisinger S., Phelan S. et al. Trends in Foreign Direct Investment Flows: A Theoretical and Empirical Analysis. Journal of International Business Studies, 2003, vol. 34, issue 4, pp. 315–326. DOI: 10.1057/palgrave.jibs.8400034
30. Souare M.J. Productivity Growth, Trade and FDI Nexus: Evidence from the Canadian Manufacturing Sector. The Journal of Technology Transfer, 2016, vol. 38, pp. 675–698. DOI: 10.1007/s10961-012-9259-6
31. Temiz D., Gokmen A. FDI in Flow as an International Business Operation by MNCs and Economic Growth: An Empirical Study on Turkey. International Business Review, 2014, vol. 23, issue 1, pp. 145–154. DOI: 10.1016/j.ibusrev.2013.03.003
Financing The article was supported by the RFH project ‘Assessing the sanctions’ impact on the Russian economy’ (No. 15-02-00622)
Date

ISSN (Print) 1815-9834
ISSN (Online) 2587-5957

Minakir Pavel Aleksandrovich,
Editor-in-Chief
Tel.: +7 (4212) 725-225,
Fax: +7 (4212) 225-916,
 
Samokhina Lyudmila, Executive Editor
Tel.: +7 (4212) 226-053
Fax: +7 (4212) 225-916,
 
Editors
Tel.: +7 (4212) 226-053,
Fax: +7 (4212) 225-916,
 
To Editorial Staff of “Spatial Economics”
Economic Research Institute FEB RAS
153 Tikhookeanskaya St., Khabarovsk, RUSSIA, 680042

 

 

Creative Commons License
Unless otherwise noted, content on this site is licensed under a Creative Commons Attribution 4.0 International License