FDI in the Post-Soviet Space Three Decades after the Disintegration of the Soviet Union

Kalman Kalotay and A. Sulstarova ()

Outlines of global transformations: politics, economics, law, 2021, vol. 14, issue 5

Abstract: The former Soviet Union disintegrated three decades ago. That momentous 1991 was not only the starting point for independence of the countries of the post-Soviet space but also the starting point for their transformation from centrally planned economy to capitalism, often with local specificities. At the moment of writing this article aiming at analysing the long-term, structural characteristics of inward and outward foreign direct investment (FDI), these 12 economies are facing new COVID-19-related challenges, different from the problems of transformation undertaken in the past decades. After a brief literature survey, in which the main issues raised by academic research are highlighted, the article analyses the long-term trends and the main characteristics (geographical and sectoral) of FDI, with special reference to greenfield project announcements from 2003 on (the starting year of data availability). It also explores how much economic development was based on either attracting inward or promoting outward FDI or both. The performance of the 12 post-Soviet economies is controlled against the performance of other transition economies such as the Baltic States, South-East Europe and/or the Visegrad Group. The article concludes that indeed efforts towards using inward or outward FDI for development has been modest, even if in inflows one can observe some convergence with the other transition economies, which have been relying more wittingly using FDI for their development.

Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.ogt-journal.com/jour/article/viewFile/863/624 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ccs:journl:y:2021:id:863

DOI: 10.23932/2542-0240-2021-14-5-2

Access Statistics for this article

More articles in Outlines of global transformations: politics, economics, law from Center for Crisis Society Studies
Bibliographic data for series maintained by Кривопалов Ð Ð»ÐµÐºÑ ÐµÐ¹ Ð Ð»ÐµÐºÑ ÐµÐµÐ²Ð¸Ñ‡ ().