1. Cicle "La internacionalització de l'empresa“
9a sessió: Europa II, el cas de Rússia
A quick overview on the Russian Federation
and the main Eastern European countries
Prof. Alex Makarevich,
People Management and Organization department, ESADE

2. Russia has a large population and GDP but its GDP per
capita has a lot of catching up to do
Russian Czech
Hungary Poland Spain
Federation Republic
GDP nominal
1,850.4 140.3 513.8 215.3 1,493.5
(bilions US$)
GDP per capita
12,993 14,050 13,540 20,444 32,360
(in US$)
Population (milion
147.1 10.4 39.7 10.9 48.8
inhabitants)
Source: World Economic Forum. Global Competitiveness Report, 2012-2013. 2011 figures.
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3. Russia keeps a positive momentum with respect to large Eastern EU
members, for which the Euro zone crisis its taking a heavier toll
GDP, year over year percent change
Source: IMF. World Economic Outlook, Update Jan. 23, 2013
3

4. Retail price inflation in Russia is higher than in Eastern EU states but has
declined significantly from the mid-200s
Retail prices, year over year percent change
Source: IMF. World Economic Outlook . October 2012
4

5. Poland and Russia are the two largest export markets for Spanish
companies in Eastern Europe, while exports to Russia are growing
faster…
Value of Spanish exports (in milion euros)
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
RUSSIAN FEDERATION HUNGARY POLAND CZECK REPUBLIC
CZECH REPUBLIC
2008 2009 2010 2011 2012
Source: DataComex accesed Feb. 27, 2013
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6. … however the number of Spanish firms exporting to Russia regularly has not
increased much compared to the other major Eastern European countries
3,500 Number of regularly exporting Spanish firms
3,000 2,893
2,722
2,552
2,500 2,361
2,179
2,097
1,982
2,000 1,839 1,854 1,848 1,879
1,776
1,566 1,590
1,503 1,541
1,500
1,000
500
0
RUSSIAN FEDERATION HUNGARY POLAND CZECK REPUBLIC
CZECH REPUBLIC
2007 2008 2009 2010
Source: ICEX (2011): La empresa exportadora española 2007-2010
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7. At the beginning of 2011, the presence of Spanish
companies in Russia as direct investors was very modest
Russian Czeck
Hungary Poland
Federation Republic
Outward FDI Stock (% over total)
(Posición Inversión Española en el 0.28% 1.43% 0.66% 0.80%
Exterior a 31/12/2010)
# of Spanish firms with affiliates
68 66 188 83
and subsidiaries (OEME database)
# of foreign affiliates and
subsidiaries of Spanish companies 103 116 321 153
(OEME database)
Source: Ministerio de Economía y Competitividad, 2011; OEME database, 2012
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8. According to Doing Business Report, since 2005 the Eastern
EU-members have made significant progress in improving the business
environment while Russia is making progress at a slower pace
Ease of doing business
(2012 rank)
The most problematic factors
(185 countries, rank #1 refers to the country for doing business (GCR)
with more pro-business regulations
 Corruption
Russian
112  Inefficient government bureaucracy
Federation
 Access to financing
 Policy instability
Hungary 54  Access to financing
 Tax rates
 Tax regulations
Poland 55  Restrictive labor laws
 Inefficient government bureaucracy
 Corruption
Czech Republic 65  Inefficient government bureaucracy
 Tax regulations
 Access to financing
Spain 44  Restrictive labor laws
 Inefficient government bureaucracy
Source: IFC; Doing Business Report 2013; WEF,The Global Competitiveness Report 2012-2013
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9. Cicle "La internacionalització de l'empresa“
9a sessió: Europa II, el cas de Rússia
Una rápida visión comparativa de Rusia
en relación con otros países de Europa del Este
Prof. Alex Makarevich,
People Management and Organization department, ESADE