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Investment Matters : The Role and Patterns of Investment in Southeast Europe

Author

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  • Borko Handjiski

Abstract

The purpose of this note is to provide policy insights to decision makers, academics, and researchers on the trends in investment in Southeast Europe (SEE). A comprehensive assessment of what determines investment is essential to identify, to the extent needed, policy actions that stimulate it. The report looks more in-depth into private investment trends in SEE, and explores some determinants of private investment, such as: the financing sources for investment, the contribution of Foreign Direct Investment (FDI), and the role of public investment. The selection has been made based on the relative importance and data availability for the SEE economies. Some key determinants of investment such as political stability and business environment have not been included because these are already well covered in the existing literature. Overall, the report aims to assess not only the quantity but also the quality of investment. It should be noted that while (investment in) human capital is equally, if not more, important for economic growth, its role and patterns in SEE are beyond the scope of this report.

Suggested Citation

  • Borko Handjiski, 2009. "Investment Matters : The Role and Patterns of Investment in Southeast Europe," World Bank Publications - Books, The World Bank Group, number 5920, December.
    • Handle: RePEc:wbk:wbpubs:5920
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    References listed on IDEAS

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    3. Commission on Growth and Development, 2008. "The Growth Report : Strategies for Sustained Growth and Inclusive Development," World Bank Publications - Books, The World Bank Group, number 6507, December.
    4. Barry P. Bosworth & Susan M. Collins, 2003. "The Empirics of Growth: An Update," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2), pages 113-206.
    5. Djankov, Simeon & Hoekman, Bernard M, 2000. "Foreign Investment and Productivity Growth in Czech Enterprises," The World Bank Economic Review, World Bank, vol. 14(1), pages 49-64, January.
    6. Nicholas Apergis & Costantinos Katrakilidis & Nikolaos Tabakis, 2006. "Dynamic Linkages between FDI Inflows and Domestic Investment: A Panel Cointegration Approach," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(4), pages 385-394, December.
    7. Sanjay Kathuria, 2008. "Western Balkan Integration and the EU : An Agenda for Trade and Growth," World Bank Publications - Books, The World Bank Group, number 6446, December.
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    Cited by:

    1. Maria Litvinova & Maria Luigia Segnana, 2015. "Firm boundaries in Transition countries. The influence of technological and institutional links," DEM Working Papers 2015/05, Department of Economics and Management.

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