INFLUENCE OF THE RUSSIAN NATIONAL CURRENCY FLUCTUATIONS ON SPECIAL ECONOMIC ZONES'' FUNCTION OF IMPORT SUBTITUTION
The article has examined particular features of the Russian industrial special economic zones (SEZ). The main question posed by the authors is whether SEZ could be used as an efficient economic tool of import substitution policy in case of significant domestic currency fluctuations. As an outcome the authors have found that the economic model of import substitution is different in comparison to model of foreign export-processing zones. By carrying out a survey among the foreign residents of SEZs it appeared that such economic model is highly vulnerable to domestic currency rate fluctuations. Indeed, in the article it was showed that that the existing function of import substitution of the Russian SEZs cannot be fulfilled under conditions of domestic currency rate fluctuations.