There is a growing body of literature that deals with outward foreign direct investment (OFDI) from Russia and the international activities of Russian multinational enterprises (MNEs). However, despite the significant public attention devoted to Russia, and relatively widespread fears of Russian capital, there is very little academic research on the presence of Russian capital in Central and East Europe. Only a few studies have examined in detail the entire region or even parts of it (Pelto et al., 2004; Weiner, 2006; Chetverikova, 2010; Kalotay et al., 2014). Moreover, only a few CEE country studies have been conducted, including studies on Bulgaria (Zashev, 2005a), Hungary (Weiner, 2011a, 2011b, 2013), Poland (Liuhto, 2002; Runiewicz, 2005), Latvia (Zashev, 2005b) and Lithuania (Zashev, 2004). Although Hungary is among the exceptions, an English-language study has yet to be published. This paper has two main purposes. The first is to review what the various official statistics tell us about Russian FDI in Hungary (Section 2). The other is to arrive at a more comprehensive understanding of major Russian FDI projects in Hungary, by analysing company data in meticulous detail (Section 3). In these case studies, we consider the main characteristics of Russian investments in Hungary, including, among other things, (1) the industries targeted by Russian investors; (2) the way in which Russian investors enter the market (greenfield projects, acquisitions or joint ventures); (3) the motivations behind investment decisions; (4) the failure or success of investment projects; (5) the ownership structures of the investing entities (with special attention to potential links to the Russian government); (6) the Russian share in the investment; (7) the role of indirect FDI/trans-shipment (investment through a third country). We investigate whether the top Russian non-financial MNEs are present in Hungary, and whether there are significant FDI projects on the horizon. We only briefly touch on the prevailing Hungarian attitude towards Russian investments.

After becoming the 5th largest FDI recipient worldwide in 2008, foreign direct investments in Russia have largely been impacted by the big crisis. To put these changes in context, this paper starts with an overview of foreign investments in Russia from the beginning. Analyzing the source countries, we argue that round-tripping and trans-shipped FDI significantly mask the real sources. In terms of the regional distribution, high concentration is stressed. Reviewing the industrial breakdown of FDI in Russia, we point out that the fuel industry, mainly the oil production, except for 1999, has had a prominent or a leadership role only since 2003. Despite the Russian natural resource base, foreign investors are now motivated mostly by market-related factors. Before the crisis Russian macroeconomic, fiscal and debt policies improved the investment climate, while the growing state control has had a negative effect. Red tape, poor infrastructure, corruption and complex tax system remained major obstacles. Until the early 2000s, government made few steps to encourage foreign investment. Amid and after the crisis it was explicitly acknowledged at the highest level that resource based Russia needs the West, the foreign investments and knowledge for its modernization. The paper finally turns to investments from Hungary. Despite the low share of Russia in outward FDI from Hungary, there are a few significant investments of Hungarian-based investors, worth to be surveyed.

This book emphasises the importance of state-business relations and external capital for structuring and strengthening authoritarian populism in Hungary. It argues these capitalist relations are crucial to understanding the economic aspects of this ideology, which has developed in the country since 2010. The book investigates both ‘internal’ and ‘external’ legs of the Hungarian political economy. First how a politically loyal national capital owning class has subsumed domestic business. Second the government’s operationalisation of ‘new’ inward transnational capital inflows – especially from China and Russia – to finance large-scale infrastructure projects, which complement extant investment particularly from Germany. Together, these developments have strengthened the hegemonic nature of Hungarian Authoritarian Populism, helping the government to continued electoral success. This model of governance is attractive to similar ideological expressions in the region and beyond who look for an example to emulate.

This book is about the use of economic and state capture levers for achieving political clout. It details how Moscow has been able to exploit governance deficits and influence decision-making in the countries of Central and Eastern Europe through a range of economic means. The comparative country by country perspective on Russia’s corporate presence, trade, and investment in particular sectors of the region, especially energy, shows the patterns of the Kremlin’s use of economic presence and state capture tactics to amplify political and social leverage. By collating economic data with an analysis of governance loopholes and the political process, the authors reveal the Kremlin’s methods for swaying national policies, especially through the exploitation of governance failures in these countries. The book thereby highlights how Russia’s economic power is related to its wider strategic goals. It concludes that Russia’s economic grip, both direct and indirect, is tighter than official statistics imply.

This book explores the role of entrepreneurship in economic and social integration of post-Soviet immigrants in the European Union, and the ways in which national institutions influence these processes. The book traces the development of economic models and immigration policies in Austria, Spain, and Hungary and their influence on post-Soviet immigration and entrepreneurship in these countries. As such, the book provides an interdisciplinary approach in the study of institutions relevant to students, researchers and practitioners interested in the economics of migration, labor economics, and the political economy.

Russia's post-reform crisis can be alleviated. The country has the market, the abundant natural resources and the human skills that foreign investors seek. What it needs is policies that enhance FDI inflows. Policy-makers can learn from the other large emerging markets like China, India, and Mexico, where FDI has revitalized the economy.

This volume brings together experts from different world regions. It presents various experiences with building indicator systems for monitoring the implementation of regional economic integration policies such as preferential trade areas, common markets or economic and monetary unions. The volume discusses both the technical and governance aspects of such systems, and best practices. The regional experiences that are covered include: the European Union, Eurasia, ASEAN, the East African Community (EAC), COMESA, CARICOM, the African-Caribbean-Pacific Group, and the Americas. In addition, various chapters discuss cross-cutting methodological challenges related to trade-related indicators.