Foreign Direct Investment in the Economy of the Russian Far East

The article considers the trends and patterns of foreign direct investment in the Russian economy in the context of mega-regions, the features of attracting and spatial distribution of foreign direct investment (FDI) in the regions of the Far East. The purpose for the study is to assess the economic effects generated by foreign investment in the Far East. The hypothesis is the assumption that attracting foreign investment in the region is to a greater extent a tool to maximize the economy of scale, rather than eliminating financial imbalances. The initial data of the study are statistical materials of the Central Bank, as well as macroeconomic indicators published by federal and regional statistical agencies. The methodological framework of the study is the concept of modern general theory of foreign direct investment, in particular the concept of spatial distribution of foreign investment. The article presents the assessment results of spatial performance and modification of the spatial-sectoral structure of foreign investment in the Far East, and the macroeconomic effects of their application. A new scientific result is a study to assess the impact of special institutional regimes formed in the Far East on the performance and structure of foreign investment, showing the possibilities and limitations of the stimulating effect of these regimes. The interval values of scale and structure of attracting foreign investment in the future have been determined. The research substantiates the hypothesis that the main motive for investors' strategic choice is natural rent seeking based on the access to mineral deposits (both hydrocarbons and other resources) and processing of natural resources; and this motive is invariant in relation to political and institutional innovation. The results of the study are applicable in the framework of applied regional analysis and regional economic policy-making. An important area of further research is modeling investment transfers between the countries of North-East Asia and the Russian Far East.