Russia's innovation reform - the current state of the special economic zones

Approximately 20 special economic zones (SEZs) have been founded in Russia. Four of them are innovation zones, two manufacturing zones, seven tourism zones, three port zones and two old zones of the 1990's, namely the Kaliningrad SEZ and the Magadan SEZ. Additionally, four gambling zones are to be opened by July 2009. The Russian SEZs currently produce more plans than results i.e. unrealistic plans characterise the contemporary Russian SEZs. Only the Kaliningrad SEZ and the Magadan SEZ can be classified as fully operational, and therefore, it is far too early to make any firm conclusion on the economic impact of these zones on the Russian economy. On the other hand, it is highly recommendable that a follow-up of the Russian SEZs will be carried out in 3-5 years from now, since the results of today do not necessarily describe the potential of tomorrow.special economic zone; innovation reform; SWOT analysis.

Political Risk for Foreign Firms in Russia

In this article the author discusses the political risks of foreign firms in Russia. Risks vary a great deal between the industries. Telecommunications is the most risky industry for a foreign firm at the moment. State consolidation in the oil and gas business has continued. When Russia experiences difficult times, foreign oil companies enjoy good times in Russia, and vice versa, and therefore, the latest crisis gives, at least, a temporary relief for foreign oil firms. I predict that the metal industry will also see its national champion. The production of electrical energy is a strategic sector, though it was not explicitly named in the law of strategic sectors, and foreign electricity firms operating in Russia may face surprises, if the Russian Government turns more nationalistic in the next decade.Investment climate, political risks, foreign direct investment in Russia

Russian Companies do Innovate

Innovation is a vital process for organizations and countries in order to be able to evolve and have a competitive position in the international markets. This paper is based on a research designed to evaluate the strengths and weaknesses of the national innovation system in Russia. The objective of the survey was to evaluate innovation activity and innovation performance in Russia, as well as to identify the priorities of the government policy to promote innovation.Russia; innovation; national innovation system; performances.

Foreign nationals on the boards of directors of Russia's ten largest non-financial companies investing overseas

This author analyses the international membership of the boards of directors of Russia's ten largest outbound investors. The data used in the study come from the companies' annual reports and official websites. The information is correct as of February 2017. It is concluded that foreign nationals hold 30% of board seats in Russia's ten largest non-financial companies investing abroad. US, British, and German nationals comprise two-thirds of foreign nationals on the boards of directors. Among the 30 foreign holders of board seats, there is only one citizen of China. Women account for five percent of directors in Russia's ten largest investors overseas. The proportion of female directors in Russia's 50 largest corporations is similar. This suggests that internationalisation of Russian companies has not improved the chances for women to enter boards of directors

The entrepreneurial and management cultural transformation in independent Estonia

Abstract available: p.i

The corona pandemic and its impact on the economic development of the Baltic Sea region in 2020

This year, the GDP of the ten coastal countries in the Baltic Sea region is set to decrease slightly more than the GDP of the world’s advanced economies on average. The decline in GDP in the Baltic Sea region will be about 7%. The 10% decline in Germany’s GDP in the second quarter is a cause for concern, as Germany accounts for almost 15% of the foreign trade of the other countries in the Baltic Sea region. The fall in oil prices, on the other hand, will hinder the economies of Norway and Russia, while cheaper import energy will provide the other coastal countries in the Baltic Sea region with some relief from the decline in their gross domestic product. The decline in economic growth is already reflected in rising unemployment figures. When increased unemployment is combined with the stress and mental fatigue caused by the pandemic, the risk of increased social unrest grows. Social pressure in the Baltic Sea countries is set to increase the most in Sweden, where a more difficult coronavirus situation than in the rest of the Baltic Sea region, combined with the country’s high youth unemployment rate (almost 30%) and large share of foreign-born population (almost 20%), could result in immigrant-related unrest. Concern has also been raised across the Baltic Sea region regarding the growing number of crimes against persons with foreign backgrounds by extremist movements. Although there is enormous uncertainty concerning the pandemic and its socio-economic impact, it is certain that the world will not return back to what it was even after the corona pandemic has been overcome. </div