Rusya Federasyonuna Yapilan Doğrudan Yabanci Yatirimlarin Bölgesel Dağilimini Etkileyen Faktörler

Abstract

Previous works on determinants of foreign direct investment distribution among regions in Russian Federation mostly concentrated on regional socioeconomic factors. But the borders among Russian regions are administranive only, so the ability of investor to reach any neighboring or near regions? market and some resources is only matter of distance. This work is intended to investigate the relationship between the amount of foreign investment received in target region and the amount of foreign investment received in neighboring and near regions. The other aspect of this work is to investigate how investment in target region is effected from socioeconomic characteristics of nearby regions. Using Spatial FAR (first order auto regression) model it is found that, the foreign investment in target region increases with, the more foreign investment received in neighboring and nearby regions. However when the socioeconomic characteristics are added to panel data equation no evidence was found to indicate the effect of the amount of direct investment in neighboring regions on the amount of foreign direct investment in target region. Also the effect of the shocks, occurring in neighboring and nearby regions, were found to be insignificant for investments in target area.