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Dynamic Perspective On The Triangle Foreign Direct Investments – Exchange Rate – Capital Market

Author

Listed:
  • Adrian Morar Triandafil

    (Romanian Banking Institute)

  • Cristina Morar Triandafil

    (Bucharest Academy of Economic Studies)

  • Aniela Danciu

    (Bucharest Academy of Economic Studies)

Abstract

This paper focuses on the triangular causal relationship between foreign direct investments, exchange rate and capital market at the level of the CEE countries. For this purpose, we use the weight of market capitalization of listed companies into GDP as proxy for the degree corresponding to the stock market development, the variability of the exchange rate as proxy for the macroeconomic environment and weight of foreign direct investments into GDP as a proxy for the country’s capacity to attract foreign investors and to recover some macroeconomic deficiencies. The perspective is a dynamic one, conceiving each variable as a cause and effect in the system of relashionships.

Suggested Citation

  • Adrian Morar Triandafil & Cristina Morar Triandafil & Aniela Danciu, 2011. "Dynamic Perspective On The Triangle Foreign Direct Investments – Exchange Rate – Capital Market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 5(5(558)(su), pages 624-634, July.
    • Handle: RePEc:agr:journl:v:5(558)(supplement):y:2011:i:5(558)(supplement):p:624-634
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