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Social and Political Factors of Russia’s Investment Image Formation

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Rubric: Russia: Economics, Politics
DOI: 10.20542/0131-2227-2011-3-57-66

N. Rabotyazhev, Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation (rabotiajev@mail.ru)

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Abstract. The article is devoted to the investigation of key social and political factors forming Russia’s investment image. The author notes that investment attractiveness of Russia is now on a low level and tries to discover the causes of this phenomenon. In the article the meaning of such concepts as “investment image”, “investment climate”, “business climate” is explained. The author stresses that improvement of the investment climate in the country is the precondition of the change for the better of its investment image. Examining main factors of political risk in Russia he arrives at a conclusion that these factors are connected with the peculiarities of the present model of Russian “crony” capitalism combining the elements of bureaucratic and speculative trade capitalism. In the author’s view, the uncontrolled rule of bureaucracy, reinforced by “statism”, to a considerable extent deteriorates the investment climate in Russia. Thus, a conclusion is drawn that the modernization of political system is an important prerequisite of improvement of Russia’s investment image.

Keywords: Russia's investment image, investmen climate, business climate, political risks, corruption, bureaucracy, shadow economy, risky-speculative, bureaucratic cfhitalism,rational capitalism.


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For citation:
Rabotyazhev N. Social and Political Factors of Russia’s Investment Image Formation. World Eñonomy and International Relations, 2011, no. 3, pp. 57-66. https://doi.org/10.20542/0131-2227-2011-3-57-66

Contents World Eñonomy and International Relations. 2011, no. 3

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