ФАКТОРЫ, ВЛИЯЮЩИЕ НА ВЗАИМНЫЕ ПРЯМЫЕ ИНВЕСТИЦИИ МЕЖДУ РОССИЕЙ И КИТАЕМ

Abstract

The article is devoted to the study of the factors influencing mutual direct investments between Russia and China. The subject of the analysis is direct investment as a type of international investment made by a direct investor in order to implement its long-term strategy, which implies ownership of at least 10% of the voting shares of the enterprise-recipient of direct investment. The role of foreign direct investment in the economy accepting the capital is considered. The work establishes the factors influencing mutual direct investments, taking into account foreign experience. The research is based on general scientific methods of cognition (analysis, synthesis, and comparison), presentation of tabular and graphical interpretation of statistical information, time series, econometric modeling using the EViews software product. Basing on the study, the author concluded that the sanctions crisis in Russia in 2014 caused a positive surge in foreign direct investment in relations between Russia and China. However, the shares of mutual direct investments in the total volume are insignificant and average 0.11% for Russia and 0.15% for China. A significant positive correlation was found between Russia-China and China-Russia FDI with a lag of 1 quarter. Investment decisions are not routinely made at the beginning (end) of a quarter or year, but are determined by market conditions, as evidenced by autocorrelation functions for Russia-China and China-Russia FDI, which do not show a significant seasonal component in FDI statistics for both countries. The novelty of the article lies in the determination, using quantitative methods, of the factors influencing mutual direct investments between Russia and China.