510A. Chetverikova (chetverikova@imemo.ru),
Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation
Acknowledgements. The article was prepared at the Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences and supported by a grant from the Russian Science Foundation (project no. 14-28-00097 “The optimization of Russian external investment ties in the conditions of deteriorating relations with the EU”).
Abstract. The article is devoted to the analysis of Russian participation in global value chains (GVCs). The author gives a qualitative and quantitative description of the Russian positions in the GVCs, pointing out their imbalance and primitiveness. Special attention is paid to the Russian TNCs’ positions in the global value chains. The article highlights the distinguishing features of their involvement in global value chains, in particular its “regionality”. It is concluded that the Russian companies are guided by the global value chains. In a sectoral context, metallurgy is one of Russian sectors most involved in the global value chains. An increased share of foreign value added in the total exports of Russian metallurgy is singled out as a distinctive feature. Further on, the author analyzes differences of the models of particular Russian ferrous metallurgy TNCs’ policies concerning participation in the global value chains. The examples of such companies as Novolipetskii metallurgicheskii kombinat (NLMC) and Magnitogorskii metallurgicheskii kombinat (MMK) are given. The author makes an attempt to describe the scale and nature of the existing intra-corporate flows of the Russian ferrous metallurgy companies within the global value chains. The description is given of the geographical breakdown of foreign activities of the largest Russian metallurgical companies within the framework of GVCs. The author comes to a conclusion that nowadays the Russian participation in the global value chains in general and in ferrous metallurgy in particular doesn’t correspond to the strategic interests of the nation. It is noted that despite the attempts of Russian ferrous metallurgy TNCs, which largely determined Russian participation in global value chains of this sector, there is a necessity to improve the quality of this participation.
Keywords: global value chains, ferrous metallurgy, Russia, TNC
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