The expansion of multinationals from emerging markets in the 2000s has become a somewhat fashionable topic in the last few years. The appearance of Russian multinationals, in particular, has attracted a very intense interest not only from the business, policymaking, and academic communities, but also from the media and even the general public in many countries. At the same time, until very recently, quantitative data has been essentially limited to aggregate quarterly foreign direct investment (FDI) figures. Beyond that, even the basic breakdowns — such as by country or by industry — while available from the official statistics body Rosstat, are widely seen as reflecting off-shoring, ‘tax optimization’ and similar practices at least as much as actual FDI (Aris, 2006; Nessmann and Orlova, 2008). It is to partially fill this void that the Moscow School of Management, SKOLKOVO, in cooperation with the Vale Columbia Center for Sustainable International Investment, has started the research project that has provided the data for this chapter.
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