Growth Potential of Foreign Direct Investment in the countries of Common Economic Space.
Keywords:
foreign direct investment, common economic space, international agreements, integration, static and dynamic effectAbstract
The article shows the potential opportunities for growth of foreign direct investment (FDI) flows in the countries of Common Economic Space (CES), main directions and patterns of the flows. It has been revealed that Russia, Belarus and Kazakhstan are involved differently in international direct investing. Deepening of the integration in these countries has also various impacts on the growth of FDI flows since the establishment of the Customs Union in 2010. Thus, the Republic of Belarus less involved in international FDI flows, but it is dependent on intraregional FDI. The article investigates the opportunities of boosting reciprocal (or intraregional) FDI and value chains creation within the CES on the ground of the revealed features of intraregional trade, as well as under the influence of supranational regulation tools. There has been given the comparative analysis of the opportunities and conditions for the localization of external FDI (from outside the CES) in the three countries. At the same time the most significant economic and institutional determinants of FDI have been studied, and leading comparative advantages of Belarus, Russia and Kazakhstan to attract FDI have been identified.References
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