http://www.bis.org/cbhub/list/author/author_2991/index.rss Research hub papers by author Svetlana Ledyaeva en http://www.bof.fi/NR/rdonlyres/91C2A476-0720-4701-9D77-98D9BB7F6C9F/0/DP1608.pdf Bank of Finland BOFIT Discussion Papers by Iikka Korhonen and Svetlana Ledyaeva Trade linkages and macroeconomic effects of the price of oil 2008-11-20T17:36:59Z In this paper we assess the impact of oil price shocks on oil-producer and oil-consumer economies. VAR models for different countries are linked together via a trade matrix, as in Abeysinghe (2001). As expected, we find that oil producers (Russia and Canada here) benefit from oil price shocks. For example, a large oil shock, leading to a price increase of 50%, boosts Russian GDP by some 12%. However, oil producers are hurt by indirect effects of oil shocks, as economic activity in their export countries suffers. For oil consumers, the effects are more diverse. In some countries, output drops in response to an oil price shock, while other countries seem to be relatively immune to oil price changes. Finally, indirect effects are also detected for oil-consumer countries. Those countries trading more with oil producers receive indirect benefits via higher demand from the oil producing countries. In general the largest negative total effects from positive oil price shocks are found in China, USA and Japan while European countries seem to fare quite well during recent positive oil-price shocks. Trade linkages and macroeconomic effects of the price of oil 2008-11-20T17:36:59Z Abstract http://www.bof.fi/bofit_en/tutkimus/tutkimusjulkaisut/dp/2008/dp1608.htm Full text http://www.bof.fi/NR/rdonlyres/91C2A476-0720-4701-9D77-98D9BB7F6C9F/0/DP1608.pdf Iikka Korhonen Svetlana Ledyaeva Iikka Korhonen and Svetlana Ledyaeva 2008-11-16 Bank of Finland BOFIT Discussion Papers C32 E32 F43 Q43 http://www.bof.fi/NR/rdonlyres/F7AAF575-5FC8-4A68-A669-EBED5EDF8D74/0/dp1507.pdf Bank of Finland BOFIT Discussion Papers by Svetlana Ledyaeva Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods 2007-07-30T18:37:00Z Using a spatial autoregressive model of cross-sectional and panel data, we study the determinants and dominant strategies of FDI inflows into Russia before and after the 1998 financial crisis. The important determinants of FDI inflows into Russian regions since transition began appear to be market size, the presence of large cities and sea ports, oil and gas availability, and political and legislative risks. Since 1998, it appears the importance of big cities, the Sakhalin region, oil and gas resources and legislation risk has increased, while the importance of political risk and port availability has decreased. Our results also reveal a shift from horizontal FDI strategy to a regional trade-platform FDI strategy. While theory anticipates combined vertical and horizontal motives for regional trade-platform strategies, the lack of evidence of a vertical motive in the Russian case suggests import substitution presently plays a significant role in regional trade-platform FDI. Using a multiple spatial lags approach, we show that neighbouring regions with ports have emerged post-crisis as competitors for FDI and identify agglomeration effects in FDI between adjacent regions with and without ports during the period 1999-2002. Spatial econometric analysis of determinants and strategies of FDI in Russian regions in pre- and post-1998 financial crisis periods 2007-07-30T18:37:00Z Abstract http://www.bof.fi/bofit_en/tutkimus/tutkimusjulkaisut/dp/2007/dp1507.htm Full text http://www.bof.fi/NR/rdonlyres/F7AAF575-5FC8-4A68-A669-EBED5EDF8D74/0/dp1507.pdf Svetlana Ledyaeva Svetlana Ledyaeva 2007-07-16 Bank of Finland BOFIT Discussion Papers C21 E22 F21 http://www.bof.fi/NR/rdonlyres/033E8FAE-C55B-4B83-9132-62C81AA9D94C/0/dp1706.pdf Bank of Finland BOFIT Discussion Papers by Svetlana Ledyaeva and Mikael Linden Foreign direct investment and economic growth: Empirical evidence from Russian regions 2007-01-01T12:00:00Z Barro and Sala-I-Martin empirical framework of neoclassical Solow-Swan model is specified to determine the FDI impact on per capita growth in 74 Russian regions during period of 1996-2003. The Arellano-Bond GMM-DIFF methodology, developed for dynamic panel data models, is used in estimations. Results imply that in general FDI (or related investment components) do not contribute significantly to economic growth in Russia in the analyzed period. Regional growth in 1996-2003 is explained by the initial level of region’s economic development, the 1998 financial crisis, domestic investments, and exports. However some evidence of positive aggregate FDI effects in higher-income regions is relevant. Another interesting result is that natural resource availability seems to be growth-inducing in rich regions, while in poor regions it is not significant. We also found convergence between poor and rich regions in Russia. However FDI seems not to play any significant role in the recent growth convergence process among Russian regions. Foreign direct investment and economic growth: Empirical evidence from Russian regions 2007-01-01T12:00:00Z Abstract http://www.bof.fi/bofit_en/tutkimus/tutkimusjulkaisut/dp/2006/dp1706.htm Full text http://www.bof.fi/NR/rdonlyres/033E8FAE-C55B-4B83-9132-62C81AA9D94C/0/dp1706.pdf Mikael Linden Svetlana Ledyaeva Svetlana Ledyaeva and Mikael Linden 2006-12-14 Bank of Finland BOFIT Discussion Papers E22 F21 P27