Foreign Direct Investment and Shadow Economy: One-Way effect or Multiple-Way Causality?

• Autorzy: Inna Tiutiunyk , Wojciech Cieśliński , Andrii Zolkover , Laszlo Vasa
• Języki publikacji: EN

Abstrakty

EN

The article examines the relationship between the size of the shadow economy and indicators of the investment market development. Net inflow of foreign direct investments, volume of net investments in non-financial assets, volumes of portfolio investments, and net outflow of foreign direct investment were used as parameters characterizing the development of the investment market. The dependence between the indicators was analyzed using the regression equation, Shapiro-Wilk test. Research results demonstrate that the increase in the inflow and outflow of foreign direct investments leads to an increase in the size of the shadow economy without a time lag in Ukraine, Poland, Slovenia, Romania, Croatia, Lithuania, Latvia, Estonia, and with a time lag of 1 year in Slovakia and Hungary. The largest impact on the size of the shadow economy is made by the volume of inflow and outflow of direct foreign investments, while the volume of portfolio investments has a less significant effect. Consequently, it was concluded that the processes of inflow and outflow of direct foreign investments require enhanced control by specialized state executive bodies given the scale of their potential destabilizing impact on the macroeconomic stability of the country. (original abstract)

Słowa kluczowe

EN

Foreign investment; Direct investments; Investment potential; Grey economy; Economic development

PL

Inwestycje zagraniczne; Inwestycje bezpośrednie; Potencjał inwestycyjny; Szara strefa; Rozwój gospodarczy

• Czasopismo: Journal of International Studies
• Rocznik: 2022
• Tom: 15
• Numer: nr 4
• Strony: 196--212

Twórcy

autor

Inna Tiutiunyk

• Sumy State University, Ukraine

autor

Wojciech Cieśliński

• Wroclaw University of Health and Sport Sciences, Wroclaw, Poland

autor

Andrii Zolkover

• Kyiv National University of Technologies and Design, Ukraine

autor

Laszlo Vasa

• Széchenyi István University, Győr, Hungary

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Identyfikatory

DOI

10.14254/2071-8330.2022/15-4/12