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The Relationship between Foreign Direct Investment and Institutional Quality in Western Balkan Countries

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  • Jelena Minović
  • Slavica Stevanović
  • Vesna Aleksić

Abstract

This paper investigates the relationship between foreign direct investment (FDI) and institutional quality measures (control of corruption, political stability, and rule of law) in the Western Balkans. The empirical study is based on panel techniques (unit root tests and causality) in the period 2002–2017. The results indicate that control of corruption, political stability, and rule of law cause an inflow of FDI at the Western Balkans. The bidirectional relationship has been found between political stability and rule of low, control of corruption and rule of law, and control of corruption and inflow of FDI. Thus, the study recommended that stronger institutional measures cause a higher inflow of foreign direct investments.

Suggested Citation

  • Jelena Minović & Slavica Stevanović & Vesna Aleksić, 2021. "The Relationship between Foreign Direct Investment and Institutional Quality in Western Balkan Countries," Journal of Balkan and Near Eastern Studies, Taylor & Francis Journals, vol. 23(1), pages 40-61, January.
    • Handle: RePEc:taf:cjsbxx:v:23:y:2021:i:1:p:40-61
    DOI: 10.1080/19448953.2020.1818038
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    Cited by:

    1. Enoch Kwaw-Nimeson & Ze Tian, 2023. "Institutional Quality, Foreign Direct Investment, and Regional Integration: Empirical Evidence From CEN-SAD," SAGE Open, , vol. 13(1), pages 21582440221, January.

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