Energy Consumption, Trade Openness and Exchange Rate Impact on Foreign Direct Investment in Union State of Russia and Belarus

Authors

  • Dmitry Burakov Financial University under the Government of the Russian Federation
  • Maxim Intse JSC ALFA-BANK
  • Max Freidin Belarusian State Agricultural Academy

Abstract

In this paper we investigate the casual relationship between energy consumption, trade openness, exchange rate and foreign direct investment in Union State of Russia and Belarus for the period from 1997 to 2017. To test the hypothesis and explain the possible casual relations we use the error correction approach. Result of the conducted research show that in the short run trade openness and exchange rate affect foreign direct investment in positive and significant manner. In the long run, energy consumption, trade openness and exchange rate positively affect foreign direct investment.

Keywords: Foreign direct investment, energy consumption, trade openness, exchange rate, error correction model

JEL Classifications: F21, F31, Q43

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Author Biographies

Dmitry Burakov, Financial University under the Government of the Russian Federation

Department of Monetary Relations and Monetary Policy, PhD in Economics, associate proffesor

Maxim Intse, JSC ALFA-BANK

IFRS Division Chief Executive

Max Freidin, Belarusian State Agricultural Academy

Department of Marketing

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Published

2018-07-16

How to Cite

Burakov, D., Intse, M., & Freidin, M. (2018). Energy Consumption, Trade Openness and Exchange Rate Impact on Foreign Direct Investment in Union State of Russia and Belarus. International Journal of Energy Economics and Policy, 8(4), 77–82. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/6399

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