FDI into transition economies

Saul Estrin · Milica Uvalić

94 citations0/0 files storedEconomics of Transition

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International Business and FDI Global trade and economics Post-Communist Economic and Political Transition

Abstract

Abstract The article explores the determination of foreign direct investment ( FDI ) into the Balkan transition economies – Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Montenegro, Romania and Serbia. Detailed FDI inflows to Southeast Europe are analysed to determine the main differences in the volume, timing and sectoral structure of FDI within the region and in comparison to the Central East European countries. A gravity model for all transition economies during 1990–2011 is then estimated to assess whether the factors driving FDI to the Western Balkans are different. They are found to be so; even when the size of their economies, distance from the source economies, institutional quality and prospects of EU membership are taken into account, Western Balkans countries receive less FDI than other transition countries. These issues are of policy relevance for the Balkan economies and ought to contribute to the current debate on the ‘new growth model’.

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References

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2016Foreign Direct Investment in the Western Balkans: What Role Has it Played During Transition?2015FDI entry strategies and the impacts of economic freedom distance: Evidence from Nordic FDIs in transitional periphery of CIS and SEE 2015Determinants of Foreign Direct Investments: Dynamic Panel Data Evidence 2017The Determinants of Foreign Direct Investment in Transition Economies: A Meta‐analysis 2019Investigating the Relationship Between Financial Constraint and Growth of SMEs in South Eastern Europe

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