Russian Firms in the Visegrád Countries

Uluslararası İlişkiler (International relations), (ISSN 1304-7310), Vol. 13, No. 49, pp. 107-130, 2016

Posted: 12 Sep 2016

See all articles by Kalman Kalotay

Kalman Kalotay

United Nations Conference on Trade and Development (UNCTAD); UNCTAD

Andrea Éltető

Institute of World Economics, Centre of Economic and Regional Studies, Hungarian Academy of Sciences

Magdolna Sass

Hungarian Academy of Sciences (HAS) - Research Centre for Economic and Regional Studies (HAS)

Csaba Weiner

Hungarian Academy of Sciences (HAS) - Institute of World Economics

Date Written: July 28, 2016

Abstract

This article analyses direct investment patterns by Russian firms in the four Visegrád countries, their motivations and ownership advantages, based mostly on the eclectic paradigm. Beside statistical data, it relies on case studies to present the profile of the most important Russian investors in each host country. In the Visegrád countries, market, and to a lesser extent, resource-seeking investment by state-owned firms in the hydrocarbons, steel and nuclear energy industries dominate. Some innovative private Russian companies, with features similar to developed-country multinationals can also be identified. Extant investment theories, with the exception of the eclectic paradigm, fall short of explaining Russian investment.

Keywords: Foreign Direct Investment, Multinational Enterprises, Central Europe, Russia

JEL Classification: D22, F23, M16, O52

Suggested Citation

Kalotay, Kalman and Éltető, Andrea and Sass, Magdolna and Weiner, Csaba, Russian Firms in the Visegrád Countries (July 28, 2016). Uluslararası İlişkiler (International relations), (ISSN 1304-7310), Vol. 13, No. 49, pp. 107-130, 2016. Available at SSRN: https://ssrn.com/abstract=2837237

Kalman Kalotay

United Nations Conference on Trade and Development (UNCTAD) ( email )

Division on Investment, Technology and Enterprise
Palais des Nations
Geneva, 1211
Switzerland

UNCTAD ( email )

Division on Investment, Technology and Enterprise
Palais des Nations
Geneva, 1211
Switzerland

Andrea Éltető

Institute of World Economics, Centre of Economic and Regional Studies, Hungarian Academy of Sciences ( email )

Hungary

Magdolna Sass

Hungarian Academy of Sciences (HAS) - Research Centre for Economic and Regional Studies (HAS) ( email )

7621 Pécs, Papnovelde u. 22
Budapest, H-1112
Hungary

Csaba Weiner (Contact Author)

Hungarian Academy of Sciences (HAS) - Institute of World Economics ( email )

Tóth Kálmán utca 4
Budapest, 1097
Hungary

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