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Статья

Bypassing weak institutions in a large late-comer economy

Journal of Institutional Economics. 2015. Vol. 11. No. 4. P. 847-874.

This paper addresses the link between the strong inflow of FDI into Russia in the 2000s and its weak institutions, using plant-level data across subnational regions. The findings imply that investors have responded positively to improve quality of institutions in certain regions, which offered a combination of wealth, skills and good infrastructure. High development levels in host regions helped to bypass some institutional shortcomings. Investors from soure countries exhibiting comparable institutional environment appeared to be more immune to political conflict. Round trip investors reacted to institutional determinants in almost the same manner as genuine investors, except for tolerance to labor market imperfections