National Interests: Priorities and Security
 

The investment and business climate in Russia: An international view

Vol. 14, Iss. 4, APRIL 2018

Received: 9 January 2018

Received in revised form: 26 January 2018

Accepted: 19 February 2018

Available online: 14 April 2018

Subject Heading: ECONOMIC POLICY OF THE STATE

JEL Classification: С13, O11, O57, Р51

Pages: 673–687

https://doi.org/10.24891/ni.14.4.673

Serova N.A. Kola Science Center of Russian Academy of Sciences, Apatity, Murmansk Oblast, Russian Federation
serova@iep.kolasc.net.ru

https://orcid.org/0000-0001-8064-1251

Importance The article discusses methodological distinctions and Russia’s position in international studies that comprehensively analyze the investment and business climate of national economies.
Objectives I study Russia’s position in international ratings of investment and business climate so as to give my recommendations for improving the main areas of the governmental investment policy that influence the investment climate and business conditions in the country.
Methods The theoretical and methodological framework comprises proceedings of the Russian and foreign scholars on the creation of favorable investment and business climate nationally and regionally. The data set of the research relies upon researches of the World Bank, Organization for Economic Cooperation and Development, World Economic Forum, Institute of Management Development in Lausanne and research by A.T. Kearney consulting company – Foreign Direct Investment Confidence. I apply modern general scientific methodology implying a comprehensive approach, scientific abstraction, techniques of analysis and synthesis, method of comparison and analogies.
Results For purposes of the research, I conduct a comparative analysis of Russia’s positions in international ratings, such as Doing Business, Product Market Regulation, New Business Density, Global Competitiveness, World Competitiveness and Foreign Direct Investment Confidence. The article indicates the most critical issues of business development and investment climate.
Conclusions Despite positive changes in Russia’s position in various international ratings, the investment and business climate is still not very attractive for foreign investors.

Keywords: investment climate, business climate, competitive environment, international ratings

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