Foreign Direct Investment in Central and Eastern Europe : the IDP trajectories of selected countries

• Autorzy: Marian Gorynia , Jan Nowak , Radosław Wolniak
• Języki publikacji: EN

Abstrakty

EN

This study attempts to investigate the timing and factors involved in the development and internationalisation of six Central and East European (CEE) economies from the perspective of advancing along the investment development path (IDP) model/paradigm. It also strives to identify the differences and similarities between the individual countries' IDP trajectories and to arrive at conclusions and policy recommendations designed not only for the analysed countries but which might serve or be of interest to other European states as well. The dominating empirical part of this study is based on data derived from the UNCTAD World Investment Reports and Handbook of Statistics. The analysis covers the entire period of the six countries' transition process to the market led economic system (with the exception of the Czech Republic and Slovakia, for which data do not include the years 1990-1992 when both were functioning as Czechoslovakia) up to 2006, the last year for which the relevant data for all countries were available. The first part of the study outlines the principal components of the IDP model and presents a review of empirical studies applying and/or relating to, the IDP model in CEE. The following section compares IDP trajectories of the six selected CEE countries. The analysis is concentrated on three key issues: the timeframe and conditions of moving from IDP stage 1 to stage 2; the problems of determining the advance towards IDP stage 3 and the significance in this context of the outward foreign direct investment (FDI) performance index. The concluding section summarizes the main findings and policy implications, draws attention to their limitations and delineates future research options. (original abstract)

Słowa kluczowe

EN

Foreign investment; Evaluation of the transformation process; Realisation of investments

PL

Inwestycje zagraniczne; Ocena procesu transformacji; Realizacja inwestycji

• Czasopismo: The Poznań University of Economics Review
• Rocznik: 2010
• Tom: 10
• Numer: nr 1
• Strony: 5--26

Twórcy

autor

Marian Gorynia

• Poznań University of Economics, Poland

autor

Jan Nowak

• Central European University, Budapest, Hungary

autor

Radosław Wolniak

• University of Warsaw, Poland

Bibliografia

• Antalóczy, K. and Éltető, A. (2003), Outward Foreign Direct Investment in Hungary. Motivation and effects, in: M. Svetličič and M. Rojec (eds.), Facilitating Transition by Internationalization: Outward Direct Investment from Central European Economies in Transition (Aldershot: Ashgate).
• Bohata, M. and Zeplinerova, A. (2003), Internationalization of Czech companies via outward investment, in: M. Svetličič and M. Rojec (eds.), Facilitating Transition by Internationalization: Outward Direct Investment from Central European Economies in Transition (Aldershot: Ashgate).
• Boudier-Bensebaa, F. (2008), FDI - assisted development in the light of the Investment Development Path paradigm: evidence from Central and Eastern European countries, Transnational Corporations, Vol. 17, No. 1.
• Clegg, J. (1996), The United Kingdom: a par excellence two-way direct investor, in: J.H.Dunning and R.Narula (eds.), Foreign Direct Investment and Governments: Catalysts for Economic Restructuring, London and New York: Routledge.
• Dunning, J.H. (1981), Explaining the international direct investment position of countries: towards a dynamic or developmental approach, Weltwirtschaftliches Archiv, 117.
• Dunning, J.H. (1986), The investment development cycle revisited, Weltwirtschaftliches Archiv, 122.
• Dunning, J.H. (1997), Alliance Capitalism and Global Business, London and New York: Routledge.
• Dunning, J.H. and Narula, R. (1994), Transpacific Direct Investment and the Investment Development Path: the record assessed, Essays in International Business, 10.
• Dunning, J.H. and Narula, R. (1996), The Investment Development Path revisited: some emerging issues, in: J.H.Dunning and R.Narula (eds.), Foreign Direct Investment and Governments: Catalysts for Economic Restructuring, London and New York: Routledge.
• Dunning, J.H. and Narula, R. eds. (1996), Foreign Direct Investment and Governments: Catalysts for Economic Restructuring, London and New York: Routledge.
• Dunning, J.H. and Narula, R. (2002), The Investment Development Path revisited, in: J.H. Dunning, Theories and Paradigms of International Business Activity. The Selected Essays of John H. Dunning, Volume 1, Cheltenham, UK and Northhampton, MA: Edward Elgar.
• Durán, J. and Úbeda, F. (2001), The Investment Development Path: a new empirical approach, Transnational Corporations, 10 (2).
• Durán, J.J. and Úbeda, F. (2005), The Investment Development Path of newly developed countries, International Journal of the Economics of Business, 12(1).
• Gorynia, M., Nowak, J. and Wolniak, S. (2006), The Investment Development Path of Poland re-visited: a geographic analysis, Proceedings of the 32nd Annual EIBA Conference, Fribourg, December 7-9.
• Gorynia, M., Nowak, J. and Wolniak, R. (2007), Poland and its investment path, Eastern European Economics, Vol. 45, No. 2.
• Gorynia, M., Nowak, J. and Wolniak, R. (2008), Poland and its investment path: in search of a synthesis, Proceedings of the 17th Annual World Business Congress of the International Management Development Association (IMDA), Paramaribo, Suriname, June.
• Kottardi, C., Filippaios, F. and Papanastassiou, M. (2004), The Investment Development Path and the product cycle - an integrated approach: empirical evidence from the new EU member states of CEE, University of Reading Economics and Management Discussion Papers 003 (Reading: University of Reading).
• Kubielas, S. (1996), Technology transfer and the restructuring of the new market economies: the case of Poland, STEEP Discussion Paper No.32, Science Policy Research Unit, University of Sussex, Brighton.
• Narula, R. and Dunning, J.H. (2000), Industrial development, globalization and multinational enterprises: new realities for developing countries, Oxford Development Studies, 2.
• Rosati, D. and Wilinski, W. (2003), Outward foreign direct investments from Poland, in: M. Svetličič and M. Rojec (eds.), Facilitating Transition by Internationalization: Outward Direct Investment from Central European Economies in Transition, Aldershot: Ashgate.
• Svietličič, M. and Bellak, C. (2003), Investment Development Path of small economies: comparative evaluation of Austria and Slovenia, in: M. Svetličič and M. Rojec (eds.), Facilitating Transition by Internationalization: Outward Direct Investment from Central European Economies in Transition (Aldershot: Ashgate).
• Svietličič, M. and Jaklič, A. (2003), Outward FDI by transition economies: basic features, trends and development implications, in: M. Svetličič and M. Rojec (eds.), Facilitating Transition by Internationalization: Outward Direct Investment from Central European Economies in Transition (Aldershot: Ashgate).
• Svetličič, M. and Rojec, M., eds. (2003), Facilitating Transition by Internationalization: Outward Direct Investment from Central European Economies in Transition (Aldershot: Ashgate).
• UNCTAD (2007), World Investment Report 2007. Transnational Corporations, Extractive Industries and Development, United Nations Conference on Trade and Development, New York and Geneva.
• UNCTAD (2008), Handbook of Statistics, United Nations Conference on Trade and Development, New York and Geneva.
• Varblane, U., Reiljan, E. and Roolaht, T. (2003), The role of outward foreign investments in the internationalization of Estonian firms, in: Marjan Svetličič and Matija Rojec (eds.), Facilitating Transition by Internationalization: Outward Direct Investment from Central European Economies in Transition (Aldershot: Ashgate).