Emerging Market and Russian Multinational Enterprises

St. Petersburg State UniversityGSOM 2015 Emerging Markets Conference

Lilac Nachum

City University New York

199920002001200220032004200520062007200820092010201120122014

0.89 0.9 0.9 0.91 0.920.85 0.82 0.79 0.82

0.780.72 0.7

0.75

0.63 0.6

0.12 0.1 0.1 0.09 0.080.15 0.18 0.21 0.18

0.220.28 0.3

0.25

0.37 0.4

Developed country MNEs

UNCTAD FDI database

Shares World FDI.

~70% in other

emerging markets

[South/South]

Late Comers

United Nations, World Investment Report 2009; company reports

Home country Image and Legitimacy ChallengesChinese firms:

Low cost/qualityCredibility challenge Xinhua news agency?

(China’s largest) India outsourcing industry:

Legitimacy of software companies from ‘a country where cows still run in the street.’

Sticky, resistant to change‘Emerging markets are developing faster than

the stereotypes are eroding.’

GSOM CENTER FOR THE STUDY OF RUSSIAN AND

EMERGING MARKET MNES

Russia Outward FDI, Mil. US$

0

30000

60000

90000

Total

UNCTAD FDI database

HEAVILY CONCENTRATED• FIRMS• INDUSTRIES

Research Russia MNEs

Data Russia MNEs

Cases Russian MNEs

Assistance Russia firms

WHERE WE WANT TO MAKE A

DIFFERENCE

Our Guiding Principles

Russian MNEs in perspective

Dialogue: Research community, firms, governments