Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization
This article explores the interrelation between economic growth and foreign direct investments (FDI) in the countries of the Commonwealth of Independent States (CIS) in 1993–2019. The research focuses on the impact of new FDI inflows per capita, as well as the influence of accumulated foreign capita...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Financial Research Institute
2022-04-01
|
| Series: | Финансовый журнал |
| Subjects: | |
| Online Access: | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2022/2/statii/05_2_2022_v14.pdf |
| _version_ | 1818126635802558464 |
|---|---|
| author | Vladimir V. Olkhovik Olga I. Lyutova Edvardas Juchnevicius |
| author_facet | Vladimir V. Olkhovik Olga I. Lyutova Edvardas Juchnevicius |
| author_sort | Vladimir V. Olkhovik |
| collection | DOAJ |
| description | This article explores the interrelation between economic growth and foreign direct investments (FDI) in the countries of the Commonwealth of Independent States (CIS) in 1993–2019. The research focuses on the impact of new FDI inflows per capita, as well as the influence of accumulated foreign capital (FDI stock per capita) on GDP growth per capita. This article has aimed to find the causal link between GDP growth and FDI inflows, as well as between GDP growth and FDI stock per capita in the CIS countries. The research methods include: empirical and statistical research, synthesis of practical and theoretical matters, methods of mathematical modelling. Discussion. FDI in the CIS countries are often determined by market size and market growth potential, which ensure a favourable business environment for foreign investors. Data obtained during the analysis suggest that the CIS countries mainly attract market-oriented FDI, which is consistent with the findings of the authors. Thus, the accumulated foreign capital stock has positive impact on economic growth in the CIS countries. Results. Foreign direct investments for economic growth act through such factors as gross domestic product, interest rate, average wages, exchange rate, consumer price index, political stability. The coronavirus pandemic factor is assessed by the authors as negatively affecting the investment attractiveness of countries; the use of digital technologies in handling FDI, according to the authors, is debatable issue. |
| first_indexed | 2024-12-11T07:04:36Z |
| format | Article |
| id | doaj.art-90287560c4454bc7b7f027a546e9871c |
| institution | Directory Open Access Journal |
| issn | 2075-1990 2658-5332 |
| language | English |
| last_indexed | 2024-12-11T07:04:36Z |
| publishDate | 2022-04-01 |
| publisher | Financial Research Institute |
| record_format | Article |
| series | Финансовый журнал |
| spelling | doaj.art-90287560c4454bc7b7f027a546e9871c2022-12-22T01:16:32ZengFinancial Research InstituteФинансовый журнал2075-19902658-53322022-04-0114No. 2739010.31107/2075-1990-2022-2-73-90Economic Growth Models and FDI in the CIS Countries During the Period of DigitalizationVladimir V. Olkhovik0https://orcid.org/0000-0002-9304-3100Olga I. Lyutova1https://orcid.org/0000-0002-6603-8859Edvardas Juchnevicius2https://orcid.org/0000-0001-7390-4885Financial Research Institute, Moscow 127006, Russian Federation; HSE University, Moscow 101000, Russian FederationHSE University, Moscow 101000, Russian FederationGdansk University, Gdansk 80–309, PolandThis article explores the interrelation between economic growth and foreign direct investments (FDI) in the countries of the Commonwealth of Independent States (CIS) in 1993–2019. The research focuses on the impact of new FDI inflows per capita, as well as the influence of accumulated foreign capital (FDI stock per capita) on GDP growth per capita. This article has aimed to find the causal link between GDP growth and FDI inflows, as well as between GDP growth and FDI stock per capita in the CIS countries. The research methods include: empirical and statistical research, synthesis of practical and theoretical matters, methods of mathematical modelling. Discussion. FDI in the CIS countries are often determined by market size and market growth potential, which ensure a favourable business environment for foreign investors. Data obtained during the analysis suggest that the CIS countries mainly attract market-oriented FDI, which is consistent with the findings of the authors. Thus, the accumulated foreign capital stock has positive impact on economic growth in the CIS countries. Results. Foreign direct investments for economic growth act through such factors as gross domestic product, interest rate, average wages, exchange rate, consumer price index, political stability. The coronavirus pandemic factor is assessed by the authors as negatively affecting the investment attractiveness of countries; the use of digital technologies in handling FDI, according to the authors, is debatable issue. https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2022/2/statii/05_2_2022_v14.pdfeconomic growth modelsforeign direct investments (fdi)commonwealth of independent states (cis) countriesdigitalizationtrade integrationglobal integrationfinancial capital |
| spellingShingle | Vladimir V. Olkhovik Olga I. Lyutova Edvardas Juchnevicius Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization Финансовый журнал economic growth models foreign direct investments (fdi) commonwealth of independent states (cis) countries digitalization trade integration global integration financial capital |
| title | Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization |
| title_full | Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization |
| title_fullStr | Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization |
| title_full_unstemmed | Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization |
| title_short | Economic Growth Models and FDI in the CIS Countries During the Period of Digitalization |
| title_sort | economic growth models and fdi in the cis countries during the period of digitalization |
| topic | economic growth models foreign direct investments (fdi) commonwealth of independent states (cis) countries digitalization trade integration global integration financial capital |
| url | https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2022/2/statii/05_2_2022_v14.pdf |
| work_keys_str_mv | AT vladimirvolkhovik economicgrowthmodelsandfdiintheciscountriesduringtheperiodofdigitalization AT olgailyutova economicgrowthmodelsandfdiintheciscountriesduringtheperiodofdigitalization AT edvardasjuchnevicius economicgrowthmodelsandfdiintheciscountriesduringtheperiodofdigitalization |