Professor Vladimir Popov, Research Director in Economics and Political Sciences at the Dialogue of Civilizations Research Institute (DOC), presented a paper questioning the need for foreign capital inflows to generate sustainable economic development and growth in developing economies during the recent 10th East Asian Conference on Slavic Eurasian Studies in Tokyo.
Professor Popov’s presentation was based on his paper “Does Russia Need an Inflow of Foreign Capital? Or Does It Need to Rely on an Export-Oriented Growth Model, Based on Domestic Savings?” (The full paper can be downloaded here). He argued it is naive to expect economic miracles solely through foreign investment to generate economic growth. Sustained high growth rates have only been seen in countries that also were able to mobilise domestic savings and transform them into domestic investments, together with measures to promote export-driven growth and efficient institutional capacity building.
The session was moderated by Professor Mayu Michigami of Niigata University. Other speakers were Professor Shinichiro Tabata (Hokkaido University), Professor Akira Uegaki (Seinan Gakuin University) and Professor Yugo Konno, Senior Economist at Mizuho Research Institute.
Hosted by the Japanese Council for Russian and East European Studies at the University of Tokyo, this year’s East Asian Conference on Slavic Eurasian Studies had the title “Brave New Fragmented World, Or How To Make It Manageable”. Experts from around the world presented research and evaluated recent developments in Eurasia in global and regional contexts. The conference serves as a curtain-raiser for the upcoming 10th ICCEES World Congress in Montreal in 2020.
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