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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">voprecotest</journal-id><journal-title-group><journal-title xml:lang="ru">Вопросы экономики</journal-title><trans-title-group xml:lang="en"><trans-title>Voprosy Ekonomiki</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">0042-8736</issn><publisher><publisher-name>Voprosy Ekonomiki, NP</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.32609/0042-8736-2015-3-46-60</article-id><article-id custom-type="elpub" pub-id-type="custom">voprecotest-59</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>ИНВЕСТИЦИОННАЯ ПОЛИТИКА</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>INVESTMENT POLICY</subject></subj-group></article-categories><title-group><article-title>Оценка горизонтальных и вертикальных спилловер-эффектов от прямых иностранных инвестиций в России</article-title><trans-title-group xml:lang="en"><trans-title>Assessing horizontal and Vertical Spillover Effects from Foreign Direct Investment in Russia</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Федорова</surname><given-names>Е. А.</given-names></name><name name-style="western" xml:lang="en"><surname>Fedorova</surname><given-names>E.</given-names></name></name-alternatives><bio xml:lang="ru"><p>д. э. н., проф. Финансового университета при Правительстве РФ (Москва), проф. НИУ ВШЭ (Москва)</p></bio><email xlink:type="simple">ecolena@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Барихина</surname><given-names>Ю. А.</given-names></name><name name-style="western" xml:lang="en"><surname>Barikhina</surname><given-names>Y.</given-names></name></name-alternatives><bio xml:lang="ru"><p>магистр Финансового университета при Правительстве РФ</p></bio><email xlink:type="simple">noemail@neicon.ru</email><xref ref-type="aff" rid="aff-2"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>Финансовый университет при Правительстве РФ (Москва); НИУ ВШЭ (Москва)</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Financial University under the Government of RF (Moscow, Russia); National Research University Higher School of Economics (Moscow, Russia)</institution><country>Russian Federation</country></aff></aff-alternatives><aff-alternatives id="aff-2"><aff xml:lang="ru"><institution>Финансовый университет при Правительстве РФ</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Financial University under the Government of RF (Moscow, Russia)</institution><country>Russian Federation</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2015</year></pub-date><pub-date pub-type="epub"><day>20</day><month>03</month><year>2015</year></pub-date><volume>0</volume><issue>3</issue><fpage>46</fpage><lpage>60</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Voprosy Ekonomiki, NP, 2015</copyright-statement><copyright-year>2015</copyright-year><copyright-holder xml:lang="ru">Voprosy Ekonomiki, NP</copyright-holder><copyright-holder xml:lang="en">Voprosy Ekonomiki, NP</copyright-holder><license xlink:href="https://www.vopreco.ru/jour/about/submissions#copyrightNotice" xlink:type="simple"><license-p>https://www.vopreco.ru/jour/about/submissions#copyrightNotice</license-p></license></permissions><self-uri xlink:href="https://www.vopreco.ru/jour/article/view/59">https://www.vopreco.ru/jour/article/view/59</self-uri><abstract><p>Считается, что иностранные инвестиции способствуют развитию национальной экономики, повышают эффективность отечественных компаний. На основе анализа балансов предприятий за 2004-2012 гг. с ПИИ и без них оценены горизонтальные и вертикальные спилловер-эффекты от притока иностранных инвестиций. С использованием эконометрического моделирования выявлено, что наиболее значимыми для российских компаний оказались обратные вертикальные спилловер-эффекты, то есть приток иностранного капитала больше всего влияет на эффективность работы отечественных поставщиков.</p></abstract><trans-abstract xml:lang="en"><p>FDI is believed to be very helpful for the national economy’s development. It is expected to increase the profitability and productivity of domestic companies. The analysis of balance sheets of Russian enterprises shows that for the period2004-2012 foreign investment caused horizontal and vertical spillovers in economic sectors. But this impact is ambiguous. Econometric modeling establishes the significant positive role of backward spillover. This means that national suppliers gain benefits from international interaction and become more effective due to technological and knowledge inflow from abroad.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>иностранные инвестиции</kwd><kwd>спилловер-эффект</kwd><kwd>горизонтальный эффект</kwd><kwd>вертикальный эффект</kwd><kwd>межотраслевой баланс</kwd></kwd-group><kwd-group xml:lang="en"><kwd>oreign investment</kwd><kwd>spillover effects</kwd><kwd>vertical effect</kwd><kwd>horizontal effect</kwd><kwd>input-output tables</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Aitken B., Harrison A., Lipsey R. (1996.) Wages and foreign ownership: A comparative study of Mexico, Venezuela, and the United States. Journal of International Economics, Vol. 40, No. 3/4, pp. 345-371.</mixed-citation><mixed-citation xml:lang="en">Aitken B., Harrison A., Lipsey R. (1996.) 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