Bolodurina M.P. Orenburg State University, Orenburg, Russian Federation email@example.com
Mishurova A.I. Orenburg State University, Orenburg, Russian Federation firstname.lastname@example.org
Importance The specifics of socio-economic and political systems, civilizational strategy of development determines the investment attractiveness of Russia from the foreign investor's perspectives. Thus, it is necessary to analyze the criteria used to carry out a multivariate evaluation whether foreign direct investment are efficiently attracted, and how these criteria can be interpreted. Objectives We identify what specifics can be found in initiating foreign direct investment in the Russian economy. We outline and test the technique for a comprehensive analysis of the efficiency of foreign direct investment at the macroeconomic level. Methods The research examines basic and applied proceedings of foreign and Russian authors on techniques for evaluating the investment efficiency. The research draws upon such methods as comparison, logic analysis, analysis of monographs, structural and trend analysis, and analysis and synthesis in mathematical statistics. Results The proposed toolkit for multivariate evaluation of the foreign direct investment efficiency can not only become the basis for economic agents to evaluate the investment attractiveness of the Russian Federation and make decisions, but also can be used for monitoring of the investment environment. Conclusions and Relevance We trace the trade-off between foreign investment raised and some macroeconomic indicators describing the foreign trade and the economic situation in the Russian Federation. The research proves the applicability of the technique for a comprehensive analysis of the foreign direct investment efficiency evaluation to determine distinctive traits in initiating the influx of foreign capital. Having tested the model, we found out how the investment attractiveness of economic sectors change from perspectives of foreign investors.
Keywords: foreign direct investment, evaluation, criteria, investment attractiveness
Bolodurina M.P., Mishurova A.I. [International practices of attracting foreign direct investment and the possibility of its adaptation to the Russian economy]. Predpriyatiya, otrasli i regiony: genezis, formirovanie, razvitie i prognozirovanie: materialy III mezhdunarodnoi nauchno-prakticheskoi konferentsii [Proc. Int. Sci. Conf. Enterprises, Sectors and Regions: The Genesis, Formation, Development and Forecast]. Perm, Professional'naya nauka Publ., 2017, pp. 347–356.
Mukha D.V. [Efficiency of attracting foreign direct invesments to the Republic of Belarus]. Belorusskii ekonomicheskii zhurnal = Belarusian Economic Journal, 2013, no. 1, pp. 46–63. (In Russ.)
Fedorova E.A., Korkmazova B.K., Muratov M.A. [Assessing the effectiveness of joint companies in Russia: Industry-specific features]. Prostranstvennaya ekonomika = Spatial Economics, 2015, no. 2, pp. 47–63. URL: https://doi.org/10.14530/se.2015.2.047-063 (In Russ.)
Kosintsev A.P., Kuklina O.A., Mal'tsev A.A. [The formation of Russian foreign investment attraction policy]. Izvestiya Ural'skogo gosudarstvennogo ekonomicheskogo universiteta = Journal of the Ural State University of Economics, 2009, no. 1, pp. 33–40. (In Russ.)
Javorcik B.S. Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers through Backward Linkages. American Economic Review, 2004, vol. 94, no. 3, pp. 605–627. URL: https://doi.org/10.1257/0002828041464605
Brodskii I.B. [On the criterion and indicators of the efficiency of foreign investments attracted in the Russian economy]. Ekonomika stroitel'stva = Construction Economics, 2008, no. 4, pp. 25–34. (In Russ.)
Yanova P.G., Kapralova E.V. [Evaluation of foreign investments in the Russian Federation]. Izvestiya vysshikh uchebnykh zavedenii. Povolzhskii region. Obshchestvennye nauki = University Proceedings. VolgaRegion. Social Sciences, 2014, no. 1, pp. 200–209. (In Russ.)
Goleshchikhin O.S. [Foreign direct investment and economic development]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2012, no. 24, pp. 21–26. (In Russ.)
Bolodurina M.P., Mishurova A.I. [Systematizing international practices of implementing the import substitution policy]. Molodezh'. Nauka. Budushchee: materialy mezhdunarodnoi studencheskoi nauchno‑prakticheskoi konferentsii [Proc. Int. Sci. Conf. The Youth. Science. Future]. Orenburg, OSPU Publ., 2016, pp. 51–53.
Temirbulatov R.R., Kiselev S.V. [Foreign direct investment as a driver for the formation and development of the regional innovative system]. Vestnik Kazanskogo tekhnologicheskogo universiteta = Herald of Kazan Technological University, 2012, vol. 15, no. 1, pp. 312–319. (In Russ.)
Fedorova E.A., Levina A.M., Nikolaev A.E. [Evaluating the effectiveness of companies with FDI in Russia: Regional dimension]. EKO = ECO, 2016, no. 1, pp. 61–69. (In Russ.)
Makarova E.L., Pivovarova K.A. [The development of entrepreneurship in the region through management of foreign direct investment]. Vestnik Taganrogskogo instituta upravleniya i ekonomiki = Bulletin of Taganrog Institute of Management and Economics, 2016, no. 1, pp. 39–42. (In Russ.)
Skripnikova G.V., Postanogova M.S. [Foreign direct investment in Russia: trends and problems of their attraction]. Internet-zhurnal Naukovedenie, 2015, vol. 7, no. 4. (In Russ.) URL: http://naukovedenie.ru/PDF/106EVN415.pdf
Zaitsev A.M. [Foreign investments as strategic tools in the innovation implementation system in resource extraction]. Vestnik Irkutskogo gosudarstvennogo tekhnicheskogo universiteta = Bulletin of Irkutsk State Technical University, 2015, no. 2, pp. 246–250. (In Russ.)
Bykasova O.O. [Foreign direct investment as the main factor of competitiveness of Russia]. Mezhdunarodnyi zhurnal prikladnykh i fundamental'nykh issledovanii = International Journal of Applied and Fundamental Research, 2015, no. 7-2, pp. 275–282. (In Russ.)
Zimenkov R.I. [Effect of foreign capital on the social and economic position of USA and Russia (as example of foreign direct investment)]. Rossiya i Amerika v XXI veke, 2016, no. 3, pp. 3–17. (In Russ.) URL: http://www.rusus.ru/?act=read&id=529
Kolmykova T.S., Chernikova A.A. [Modern mobilization forms of foreign investments into economy of Russia]. Region: sistemy, ekonomika, upravlenie = Region: Systems, Economics, Management, 2013, no. 4, pp. 25–30. (In Russ.)