Foreign investments in Russian economy

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STATE UNIVERSITY HIGHER SCHOOL OF ECONOMICS School of World Economy and International Affairs Foreign Languages Department Foreign investments in Russian economy Syrtsov Dmitry Nikolaevich group 462 MOSCOW 2010 Introduction 1. Strategy of foreign capital regulation in Russia 2. Russia and foreign capital 2.1 Russian position in the world market of investments 2.2 Foreign capital in modern Russia 3. Problems of foreign investments attraction in Russia Conclusion References Introduction During last two decades we can observe increasing growth of foreign direct investment activity. Every country tries to attract foreign capital and obtain direct and indirect advantages from foreign investment. Nowadays foreign investments play one of the main roles in the direction of global

development. That is why the subject of this paper is the international capital flows. General Purpose: to explore some theoretical basis of foreign investments and to analyze problems of Russian market development. To reach this objective it is required to cover certain points: - тo give a general characteristic of management strategy of the foreign investments in Russia; - тo point out Russia’s position in the world market of investments; - тo explore the problems of attraction of foreign investments into the Russian Federation. The topic of this research can be identified as foreign capital in Russia. 1. Management strategy of the foreign investments in Russia All developed countries are pursuing management of the foreign investments, for example restrictions for

countries to access to strategic branches of public sector of economy, military-industrial establishment, and other important branches. First of all, restrictions are based on necessity to defense national producer and employment preservation. But also it is necessary to attract foreign investments in economically important directions. Historical experience of the developed countries shows that foreign loans in adverse conditions can become the lever of political pressure and the reason of concessions in home market protection. Unlimited attraction of the foreign capital in the form of direct investments can have almost the same consequences for national economy. In transitive economy, foreign capital can weaken some branches which earlier were perceived as quite healthy, when

economy was in autarchy form. That’s why globalization process looks as sovereignty loss in the opinion of considerable part of Russians. That’s why it is necessary to manage foreign investments especially in sphere of the state’s strategic interests and priorities. However first of all it is necessary to specify: what is "strategic sphere" and "strategic regions» and by what criteria they are defined. And do we have standard-legal basis for restrictive regulation of the investments in our country? For example aspect of relations with investments was not observed in recently accepted doctrine of the Russian Federation power safety; thought power resources import restrictions are included in the similar document in EU. In the USSR concepts like "the

strategic branch", "strategic region" were based on the military doctrine: it is that branch which backlog reduces military potential, and that region, easing of the control for which increases military threat. Threat was expected on all azimuths; and civil industries and regions social and economic level didn't enter into strategic parameters. There is no such simple criterion for strategically importance in economy. Accordingly, there are no rules of equivocal foreign investment management. This problem is actively discussed. From wide spectrum of opinions it is necessary to allocate polar positions. The first position is based on thesis, that any formal restrictions shouldn’t be brought in. It is proved that the Russian economy will get healthy only when it