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2018 | 11 | nr 2 | 222--235
Tytuł artykułu

Determinants of Foreign Direct Investment Inflows: A Case of the Visegrad Countries

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This study identifies the determinants of foreign direct investment inflows into Visegrad countries using the country level data from the year 1989 to the year 2016. Based on correlation and regression analyses (OLS and fixed-effect model), we have identified the level of gross wages and the share of educated labour force as the most significant determinants with positive effect on FDI inflows. On the other hand, corporate income tax rate, trade openness and expenditures on research and development have been detected as the determinants with negative impact on FDI. Our study has not brought any evidence on inflation rate, unemployment rate, GDP per capita and the innovation output, as the sum of patents and trademarks, influencing FDI inflows in the case of Visegrad countries.(original abstract)
Rocznik
Tom
11
Numer
Strony
222--235
Opis fizyczny
Twórcy
  • University of Economics in Bratislava, Slovakia
  • University of Economics in Bratislava, Slovakia
  • University of Economics in Bratislava, Slovakia
  • University of Economics in Bratislava, Slovakia
Bibliografia
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  • Bevan, A., & Estrin, S. (2000). The Determinants of Foreign Direct Investment in Transition Economies. London: Centre for New and Emerging Markets, London Business School.
  • Birsan, M., & Buiga, A. (2009). FDI determinants: Case of Romania. Transition Studies Review, 15(4), 726-736. doi: http://dx.doi.org/10.1007/s11300-008-0033-2
  • Bobenič Hintošová, A., & Ručinský, R. (2017). Foreign direct investments and forms of investment aid. ISCOBEMM 2017: proceedings of the 2nd international scientific conference of business economics, management and marketing. Brno: Masaryk University, 29-35.
  • Boermans, M.A., Roelfsema, H., & Zhang, Y. (2011). Regional determinants of FDI in China: a factor-based approach. Journal of Chinese Economic and Business Studies, 9(1), 23-42. doi: 10.1080/14765284.2011.542884
  • Chanegriha, M., Stewart, C., & Tsoukis, C. (2017). Identifying the robust economic, geographical and political determinants of FDI: an Extreme Bounds Analysis. Empirical Economics, 52(2), 759-776. doi: https://doi.org/10.1007/s00181-016-1097-1
  • Culahovic, B., Mehic, E., & Agic, E. (2008). Location Determinants of Mne Activity in the Manufacturing Industry in South East Europe Countries. Conference Proceedings: International Conference of the Faculty of Economics Sarajevo (ICES). Sarajevo: University of Sarajevo, 1-18.
  • Demirhan, E., & Masca, M. (2008). Determinants of foreign direct investment flows to developing countries: a cross-sectional analysis. Prague Economic Papers, 17(4), 356-369. doi: https://doi.org/10.18267/j.pep.337
  • Dunning, J. (1981). International Production and the Multinational Enterprise. London: Allen & Unwin.
  • Eicher, T.S., Helfman, L., & Lenkoski, A. (2012). Robust FDI determinants: bayesian model averaging in the presence of selection bias. Journal of Macroeconomics, 34(3), 637-651. doi: https://doi.org/10.1016/j.jmacro.2012.01.010
  • Eurostat, European Commission. Retrieved October 12, 2017 from http://ec.europa.eu/eurostat
  • FDI Interactive Database, UNCTAD. Retrieved October 18, 2017 from: http://unctad.org/en/Pages/DIAE/FDI Statistics/Interactive-database.aspx.
  • Galego, A., Vieira, C., & Vieira, I. (2004). The CEEC as FDI Attractors. A Menace to the EU Periphery?. Emerging Markets Finance and Trade, 40(5), 74-91. doi: 10.1080/1540496X.2004.11052585
  • Gauselmann, A., Knell, M., & Stephan, J. (2011). What drives FDI in Central - Eastern Europe? Evidence from the IWH - FDI - Micro database. Post-Communist Economies, 23(3), 343-357. doi: 10.1080/1540496X.2004.11052585
  • Gorbunova, Y., Infante, D., & Smirnova, J. (2012). New evidence on FDI determinants: an appraisal over the transition period. Prague Economic Papers, 21(2), 129-149. doi: https://doi.org/10.18267/j.pep.415
  • Jáč, I., & Vondráčková, M. (2017). The perception of selected aspects of investment attractiveness by businesses making investments in the Czech Republic. E&M Economics and Management, 20(3), 118 - 132. doi: dx.doi.org/10.15240/tul/001/2017-3-008
  • Janicki, A., & Wunnava, P.V. (2004). Determinants of foreign direct investment: empirical evidence from EU accession candidates. Applied Economics, 36(5), 505-509. doi: https://doi.org/10.1080/00036840410001682214
  • Kowalewski, O., & Radło, M.J. (2014). Determinants of foreign direct investment and entry modes of Polish multinational enterprises: A new perspective on internationalization. Communist and Post-Communist Studies, 47(3-4), 365-374. doi: https://doi.org/10.1016/j.postcomstud.2014.10.003
  • Lansbury, M., Pain, N., & Smidkova, K. (1996). Foreign Direct Investment in Central Europe Since 1990: An Econometric Study. National Institute Economic Review, 156(1), 104-113.
  • Plikynas, D., & Akbar, Y. H. (2006). Neural Network Approaches to Estimating FDI Flows. Evidence from Central and Eastern Europe. Eastern European Economics, 44(3), 29-59. doi: 10.2753/EEE0012-8755440302
  • Pradhan, R.P. (2011). Dynamic panel data model and FDI determinants in India. The IUP Journal of Financial Economics, 10(1), 33-41.
  • Riedl, A. (2010). Location factors of FDI and the growing services economy. Economics of Transition, 18(4), 741-761. doi: https://doi.org/10.1111/j.1468-0351.2010.00391.x
  • Sánchez-Martín, M.E., Arce, R., & Escribano, G. (2014). Do changes in the rules of the game affect FDI flows in Latin America? A look at the macroeconomic, institutional and regional integration determinants of FDI. European Journal of Political Economy, 34(1), 279-299.
  • Simionescu, M., Lazányi, K., Sopková, G., Dobeš, K., & Balcerzak, A.P. (2017). Determinants of economic growth in V4 countries and Romania. Journal of Competitiveness, 9(1), 103-116. doi: 10.7441/joc.2017.01.07
  • Sun, Q., Tong, W., & Yu, Q. (2002). Determinants of foreign direct investment across China. Journal of International Money and Finance, 21(1), 79-113. doi: https://doi.org/10.1016/S0261-5606(01)00032-8
  • Tendera-Właszczuk, H., & Szymański, M. (2015). Implementation of the welfare state in the Visegrád countries. Economics & Sociology. 8(2), 126-142. doi: 10.14254/2071- 789X.2015/8-2/10
  • Vlahinić-Dizdarević, N., & Biljan-August, M. (2005). FDI performance and determinants in southeast European countries: evidence from cross-country data. Sixth International Conference on Enterprise in Transition. Split, Croatia: University of Split, Faculty of Economics, 1363-1377.
  • Wach, K., & Wojciechowski, L. (2016). Determinants of inward FDI into Visegrad countries: empirical evidence based on panel data for the years 2000 - 2012. Economics and Business Review, 2(1), 34-52. doi: 10.18559/ebr.2016.1.3
  • Wei, S.Z.C., & Zhu, Z. (2007). A revisit to the outward FDI determinants: further evidence from count panel data models with fixed effects. Applied Economics Letters, 14(11), 809-812. doi: 10.1080/13504850600689923
  • World Development Indicators (2017). The World Bank. Retrieved October 10, 2017 from http://databank.worldbank.org/data/reports.aspx?source=world-development-indicators.
  • Zheng, P. (2009). A comparison of FDI determinants in China and India. Thunderbird International Business Review, 51(3), 263-279. doi: https://doi.org/10.1002/tie.20264
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
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