This paper studies the effect of poor governance quality on foreign direct investment in Russia. Using a survey of businesses across forty administrative districts, we find that higher frequency of using illegal payments and higher pressure from regulatory agencies, enforcement authorities, and...

The hypothesis that internal capital markets within Russian business groups overcome the liquidity constraints problem widely spread outside groups is tested. Our findings indicate that even if the groups’ internal capital markets do exist in Russian business groups, their efficiency is rather...

Numerous evidence demonstrate that firms affiliated with business groups in emerging markets outperform their independent counterparts. One of the proposed explanations for such a phenomenon is the more advanced groups’ internal markets structure compared to the rest of the economy. In this...

The current research estimates the accelerator type model of fixed investment using a Russian industrial enterprise dataset . This dataset contains individual firms’ accounting data for 1996 and 1997. The sample of firms was divided into three subsamples based on the ownership structure data....

In 2004 a law regulating a replacement of some in-kind social benefits by cash payments was passed and liabilities for the benefit provisions were redistributed between federal and regional budgets. The objective of the paper is to study consequences of the ongoing and upcoming social benefits...

The current research estimates the accelerator type model of fixed investment using a Russian industrial enterprise dataset. This dataset contains individual firms' accounting data for 1996 and 1997. The sample of firms was divided into three subsamples based on the ownership structure data....

The paper investigates the features of Russia–South Africa relations in light of their membership in BRICS and the G-20. Collaboration with South Africa contributes to the creation of the multipolar world order and strengthens Russia’s position in such global governance institutions as the...

This paper summarizes the estimates of what Russia will get from World Trade Organization accession and why. A key finding is the estimate that Russia will gain about $53 billion per year in the medium term from World Trade Organization accession and $177 billion per year in the long term, due...

This paper studies the effect of poor governance quality on foreign direct investment in Russia. Using a survey of businesses across forty administrative districts, we find that higher frequency of using illegal payments and higher pressure from regulatory agencies, enforcement authorities, and...