Lee Han-Sol

• PhD in Economics
• Professor (Associate) at Peoples' Friendship University of Russia

This paper empirically analyzes sustainable relations between inward FDI (IFDI), outward FDI (OFDI), the R&D expenditure ratio and CO 2 emissions based on balanced panel data from the BRICS (namely, Brazil, Russia, India, China and South Africa) countries for the period 2003-2017. Generally, the results confirm a negative effect of IFDI and a posit...

This paper empirically tests the effects of FDI and export on the sustainable economic growth of Russia in general, and that of the its Far Eastern District in particular, using a state-level dataset. The results show that FDI inflows positively facilitate the income growth of Russia in general. However, it is export rather than the FDI that plays...

This paper explores the impact of Russia’sservices trade with 12 Asian countries o fAPEC member states for the period Q2,2002–Q4, 2021. The purpose of this study isto reveal whether Asian countries can replacethe roles of European countries even in theadvanced service industry for the economicgrowth of Russia. The authors found apositive and signif...

This study explores the effects of Bilateral Investment Treaties (BIT) and Regional Trade Agreements (RTA) on foreign direct investment (FDI) inflows into Serbia, utilizing panel data for 2010–2021. The results indicate that both BIT and RTA independently exert positive impacts on Serbia’s inward FDI. Also, the interaction effects between BIT and R...

This research endeavors to delve into the impact of migration flows on the nation's economic and productivity growth based on panel data from 80 Russian states for the period of 2015-2021. Our research aims to induce migration policies for the sustainable income and productivity growth of Russia. From the baseline regression analysis with state fix...

This study examines the impact of digitalisation on corporate financial performance in Russia. The findings reveal that digitalisa-tion enhances corporate profitability, with its positive effects emerging after a time lag of a few years. This suggests that the adoption of digital technologies should be considered with medium-(or longer) term outloo...

This study delves into the impact of political instability on the business efficiency (proxied by growth rate of ROA) of 3,706 Russian firms for the period 2019-2022. The aim of the study is to reveal the impact of governance quality on the managerial efficiency of Russian companies during recent years with a particular concern of the ongoing polit...

Research summary. The article presents a study aimed at developing an effective strategy for the development of single-industry towns in the Republic of Kazakhstan, focused on improving the quality of life for residents and creating comfortable living conditions. A key feature of the study was identifying the main patterns of socio-economic develop...

This study analyses the effects of the Southern African Customs Union (SACU) on the economic growth of its member states based on unbalanced panel datasets. This research was inspired by the ongoing discussions about the development of “free-trade agreements” and the growing anxiety about the US dollar’s stability as a world currency. The latter ha...

This study analyses the effects of the Southern African Customs Union (SACU) on the economic growth of its member states based on unbalanced panel datasets. This research was inspired by the ongoing discussions about the development of “free-trade agreements” and the growing anxiety about the US dollar’s stability as a world currency. The latter ha...

This study analyzes place, trends and competitiveness of the South Korean cosmetics brands to identify opportunities for the Russian cosmetics brands, whose country has suffered from a large trade deficit in the cosmetics industry despite the government’s vigorous attempts in implementing import substitution policies. We constructed the econometric...

This study compares brand competitiveness of European and Korean auto brands in the Russian automotive market based on cross-sectional datasets for 42 auto brands in Russia of the year 2022. The econometric models (OLS, WLS, and Robust least squares) are constructed by employing a theoretical frame of Porter’s diamond model. The results of the regr...

Considering the growing significance of Eurasian economic ties because of South Korea s New Northern Policy and Russia s New Eastern Policy, this study investigates the motivations and locational factors of South Korean foreign direct investment (FDI) in three countries in the Commonwealth of Independent States (CIS: Kazakhstan, Russia, and Uzbekis...

Employing an intercountry trade force (ITF) theory, this paper investigates bilateral trade between South Korea and 28 economies of Central Eastern Europe (CEE) and the Commonwealth of Independent States (CIS) based on balanced panel data for the period from 2011 to 2019. Free trade space (FTS) and gravity index (GI) turned out statistically signif...

This empirical study investigates the impact of the Hofstede cultural dimensions (HCD) on the Global Innovation Index (GII) scores in four different years (2007, 2009, 2019 and 2021) to compare the impacts during the pre-and post-crisis (financial and COVID-19) period by employing ordinary least square (OLS) and robust least square (Robust) analyse...

When the global financial erupted, European Union (EU) had suffered from unprecedented economic downturn. Unemployment soared and consumption declined, causing negative effects on Europes per capita income growth. EU then started to realize the need for the utilization of Free Trade Agreements (FTAs), to alleviate the low growth trend of European e...

The cross-border movement of capital has suffered due to the COVID-19 pandemic since December 2019. Nevertheless, it is unrealistic for multinational companies to withdraw giant global value chains (GVCs) overnight because of the pandemic. Instead, active discussions and achievements of deals in cross-border mergers and acquisitions (M&As) are expe...

Considering the growing significance of Eurasian economic ties because of South Korea’s New Northern Policy and Russia’s New Eastern Policy, this study investigates the motivations and locational factors of South Korean foreign direct investment (FDI) in three countries in the Commonwealth of Independent States (CIS: Kazakhstan, Russia, and Uzbekis...

The emphasis on economic cooperation between South Korea and Russia is growing according to the new foreign policies of the two countries. This study aims to draw policy implications for increasing inter South Korea-Russia investments as reflecting growing political significances of economic cooperation of the two countries. For that, we analyzed F...

This study examines the impact of foreign direct investment (FDI) on economic growth in China based on time series data for the period 1981-2018. For an empirical study, we used vector autoregressive (VAR) analysis. Before building our VAR model, we performed tests for unit root, normality, and heteroscedasticity to certify the data quality. The op...

The significance of economic cooperation between South Korea and Russia is growing due to the new foreign policies of the two countries: the New Northern policy of South Korea, and the Pivot to East of Russia. Thereby, in this study, we investigated the determinants of South Korean outward FDI in Russia based on the time-series data for the period...

This is our essay from a special edition of Russia in global affairs (ISSN: 1810-6439) as a final collection (Большая Евразия в восприятии новых поколений ) of the project “Perception of Greater Eurasia by the New Generation of Russian and Foreign Leaders”.

This study aims to clarify the impact of introduction of Euro on Italian economy. To do that, this paper conducted the regression analysis. The time period of the study is from 1999 to 2018. From the study, we elucidated that not all economic parameters were directly affected by the currency changeover. And, further, based on the regression analysi...

The development of Russian Far East has emerged pivot government political issue since 2013 through announcement of "The social and economic development of the Russian Far East and the Baikal region until 2025". The role of FDI is one of the most critical factors to determine success or failure of Russia's Turn to the East policy. However, the stud...

This paper investigates the Korean foreign direct investment (FDI) in the Russian Far East, a significant area to develop South Korea’s new northern policy and Russia’s pivot to the East policy. Unlike the insignificant influence of the Korean FDI on Russia’s economy as a whole, South Korea is one of the key economic partners in the Russian Far Eas...

This study aims to measure the effectiveness of Russia’s Turn to the East Policy, addressed by the federal government in 2012, on the economic development of the underdeveloped Far Eastern regions, in terms of foreign direct investment (FDI) inflows data. To do so, this paper analyzed the results of the representative policy mechanisms - designed t...