The overpricing of country risk stems from fundamental misperceptions – which, however, are here to stay

A play on China and federal funding

No shortcuts to picking winners, but populous industrial centres and political microcultures are good guides

Clear and transparent restrictions on foreign investment may not satisfy the state oligarchs

Though markets appear indifferent to all the bad press for Russia, the issue should not be ignored

The long-term political significance of the row between Russia and Belarus over the price of gas

The independence referendum in South Ossetia passed without major incident. But is this step back from conflict just temporary?

Separatism in Georgia and linked tensions with Russia are more dangerous than it may seem