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Foreign Direct Investment Inflow Dynamics: The Case of Central and Eastern Europe

dc.contributor.authorTsaurai, Kunofiwa
dc.date.accessioned2023-03-31T14:33:31Z
dc.date.available2023-03-31T14:33:31Z
dc.date.issued2023-03-29
dc.identifier.issn1508-2008
dc.identifier.urihttp://hdl.handle.net/11089/46506
dc.description.abstractThis study investigates the dynamics of foreign direct investment (FDI) inflows into Central and Eastern European countries (CEECs) using panel data (1994–2020) analysis methods such as fixed effects, fully modified ordinary least squares (FMOLS) and random effects. Specifically, the study examined what factors could account for the mixed pattern of FDI inflows into CEECs. The mixed results from the existing empirical literature on FDI inflow dynamics triggered the undertaking of this study to contribute to the ongoing debate on the subject. The study notes that infrastructural development, economic growth and domestic investment had a significant positive influence on FDI across all three panel data analysis methods. Other variables that were found to have had a significant positive effect on FDI include (1) complementarity between infrastructural and financial development (fixed effects, random effects), (2) trade openness (fixed effects) and (3) savings (random effects, FMOLS). A significant negative impact of the exchange rate on FDI was observed under the FMOLS. CEECs are therefore urged to implement policies to increase infrastructural development, financial development, trade openness and savings to enhance the inflow of FDI. Future studies should investigate the minimum threshold levels of the explanatory variables of FDI.en
dc.description.abstractOpracowanie przedstawia wyniki badania dynamiki napływu bezpośrednich inwestycji zagranicznych (BIZ) do krajów Europy Środkowo‑Wschodniej (CEEC) z wykorzystaniem metod analizy danych panelowych (1994–2020), takich jak metoda efektów stałych, w pełni zmodyfikowana metoda najmniejszych kwadratów (FMOLS) i metoda efektów losowych. W szczególności zbadano, jakie czynniki mogą być odpowiedzialne za zróżnicowaną strukturę napływu BIZ do krajów Europy Środkowo‑Wschodniej. Różne wyniki prezentowane w istniejącej literaturze empirycznej na temat dynamiki napływu BIZ skłoniły autora do podjęcia się tego badania, aby wnieść wkład w toczącą się debatę. Zauważono, że rozwój infrastruktury, wzrost gospodarczy i inwestycje krajowe miały znaczący pozytywny wpływ na BIZ co potwierdziły wszystkie trzy metody analizy danych panelowych. Inne zmienne, które miały znaczący pozytywny wpływ na BIZ, obejmują (1) komplementarność rozwoju infrastruktury i rozwoju finansowego (metoda efektów stałych, metoda efektów losowych), (2) otwartość handlu (metoda efektów stałych) oraz (3) oszczędności (metoda efektów losowych, FMOLS). Stosując metodę FMOLS zaobserwowano znaczący negatywny wpływ kursu walutowego na BIZ. Zachęca się zatem kraje Europy Środkowo‑Wschodniej do wdrożenia polityki mającej na celu zwiększenie rozwoju infrastruktury, rozwoju finansowego, otwartości handlu i oszczędności w celu zwiększenia napływu BIZ. W przyszłych badaniach należy zbadać minimalne poziomy progowe zmiennych objaśniających BIZ.pl
dc.language.isoen
dc.publisherWydawnictwo Uniwersytetu Łódzkiegopl
dc.relation.ispartofseriesComparative Economic Research. Central and Eastern Europe;1pl
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/4.0
dc.subjectforeign direct investmenten
dc.subjectCentral and Eastern Europeen
dc.subjectpanel dataen
dc.subjectbezpośrednie inwestycje zagranicznepl
dc.subjectEuropa Środkowo‑Wschodniapl
dc.subjectdane panelowepl
dc.titleForeign Direct Investment Inflow Dynamics: The Case of Central and Eastern Europeen
dc.title.alternativeDynamika napływu bezpośrednich inwestycji zagranicznych: przypadek Europy Środkowo-Wschodniejpl
dc.typeArticle
dc.page.number45-63
dc.contributor.authorAffiliationPh.D., Full Professor at the University of South Africa, Department of Finance, Risk Management and Banking, Pretoria, South Africaen
dc.identifier.eissn2082-6737
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dc.contributor.authorEmailtsaurk@unisa.ac.za
dc.identifier.doi10.18778/1508-2008.26.03
dc.relation.volume26


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