Russian Firms in the Visegrád Countries

Abstract

This article analyses direct investment patterns by Russian firms in the four Visegrád countries, their motivations and ownership advantages, based mostly on the eclectic paradigm. Beside statistical data, it relies on case studies to present the profile of the most important Russian investors in each host country. In the Visegrád countries, market-, and to a lesser extent, resource-seeking investment by state-owned firms in the hydrocarbons, steel and nuclear energy industries dominate. Some innovative private Russian companies, with features similar to developed-country multinationals can also be identified. Extant investment theories, with the exception of the eclectic paradigm, fall short of explaining Russian investment.

Keywords

Foreign Direct Investment, Multinational Enterprises, Central Europe, Russia

Citation

Kalotay, Kálmán; Éltetö, Andrea; Sass, Magdolna and Csaba Weiner, “Russian Firms in the Visegrád Countries”, International Relations, Volume 13, No. 49 (2016), pp. 107-130.

Affiliations

• Kálmán KALOTAY, Economic Affairs Officer, United Nations Conference on Trade and Development, (UNCTAD)
• Andrea ÉLTETŐ, Senior Research Fellow, Centre for Economic and Regional Studies, Hungarian Academy of Sciences, Hungary
• Magdolna SASS, Senior Research Fellow, Centre for Economic and Regional Studies, Hungarian Academy of Sciences, Hungary
• Csaba WEINER, Senior Research Fellow, Centre for Economic and Regional Studies, Hungarian Academy of Sciences, Hungary