FDI and the Investment Climate in the CIS Countries
IMF Policy Discussion Papers, November 1, 2003
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Bibliographic details
- Authors: Clinton R. Shiells
- Published: November 1, 2003
- Series: IMF Policy Discussion Papers
- DOI: https://doi.org/10.5089/9781451972849.003
Overview and purpose
- Examines capital flows into the Commonwealth of Independent States (CIS) countries in view of disappointing levels of inward foreign direct investment (FDI).
- Investigates the main impediments to a more favorable investment climate.
Key findings on FDI patterns
- Direct investment inflows have generally been related to:
- natural resource extraction or energy transportation infrastructure projects,
- large privatization transactions,
- debt/equity swaps to pay for energy supplies.
- Low FDI inflows despite strengthening macroeconomic performance has reflected a weak investment climate particularly owing to incomplete structural reforms.
Main impediments identified by IMF staff
- burdensome tax systems
- widespread corruption
- extensive state intervention coupled with weak legal and regulatory frameworks
- incomplete structural reforms
Subjects and keywords (as listed)
- Subjects: Balance of payments, Capital flows, Capital inflows, Economic sectors, Foreign direct investment, Oil sector, Privatization
- Keywords: Baltics, Capital flows, Capital inflows, Central and Eastern Europe, Central Asia, CIS country, Eastern Europe, enterprise performance, FDI, FDI flow, FDI inflow, firm Gazprom, Foreign direct investment, Former Soviet Union, IMF country team, investment climate, Moldovan firm Moldova-Gaz, Oil sector, PDP, Privatization, Regional issues, Transition economies
Publication and document metadata
- Author: Clinton R. Shiells
- Publication date: November 1, 2003
- Series: Policy Discussion Paper No. 2003/005
- Issue: 005
- Volume: 2003
- Pages: 35
- DOI: https://doi.org/10.5089/9781451972849.003
- Stock No: PPIEA0052003
- ISBN: 9781451972849
- ISSN: 1564-5193
Source: IMF Policy Discussion Papers — "FDI and the Investment Climate in the CIS Countries" by Clinton R. Shiells (November 1, 2003).