Tatuzov Viktor
Ограничительная монетарная политика-препятствие для прямых иностранных инвестиций // Вестник Московского университета. Серия 6: Экономика. 2024. Т. 59, № 4. С. 49-65. DOI 10.55959/MSU0130-0105-6-59-4-3.
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ISSN 0130–0105

This article examines some acute problems of Foreign Direct Investment (FDI), Monetary Policy and Inflation. Following a long declining trend, global FDI flows decreased in 2023 and remaining below the indicator of 2007, that is pre-global financial crisis level. According to international organizations, FDI flows were negatively affected by high interest rates, unfavourable financing conditions and situation on capital markets. The article considers the role of restrictive monetary policy alongside the theoretical aspects of global inflation. The author argues that the drop in international investment, in particular, can be attributed to Restrictive Monetary Policy in many countries. Restrictive Monetary Policy seems to underestimate the inflationary role of imperfect competition, the rise of prices for imported energy and food, the fluctuations of currency rates as well as expectations of the micro-level participants. The article provides certain economic recommendations to Russia’s regulators on Monetary and FDI Policy. In future the Bank of Russia may gradually move from Restrictive Monetary Policy to Expansionary Monetary Policy to provide stimulus for FDI. Also, this article summarizes the process of predicting future condition of the world economy in applying Kondratieff’s approach. The author concludes that it is necessary to continue studying the long wave theory with the aim of its further use in forecasting the events in Russia and worldwide.


Keywords: foreign direct investment | global value chains | GVCs | monetary policy | inflation | economic forecasting | Kondratieff long waves |

Russian Science Citation Index



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