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Foreign Direct Investment in Central and Eastern European Countries : The Role of Institutional Reforms

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  • Vannini, Stefano

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

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    Abstract

    Despite increasing flows of foreign direct investment (FDI), an important gap still exists between FDI toward Central and Eastern European countries (CEECs) and their actual needs to support structural adjustment. Using a Cournot duopoly model with a profit-maximizing foreign-based multinational (MNE) and a local labour-managed firm, I show that insufficient advancement in ‘marketization’ and regulatory framework inadequacy are major elements deterring FDI. I conclude that the creation of market-oriented infrastructures would be welcome, and that the European Union should have a role in inducing CEEC governments to commit to reforms in exchange of firmer prospects of membership.

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    Bibliographic Info

    Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 1995024.

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    Length: 21
    Date of creation: 01 Dec 1994
    Date of revision: 14 Jul 1995
    Handle: RePEc:ctl:louvir:1995024

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    Related research

    Keywords: multinational firm; mixed duopoly; build vs. buy; reforms; wage differential;

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    Cited by:
    1. Carlo Altomonte, 1998. "FDI in the CEEC's and the Theory of Real Options: An Empirical Assessment," LICOS Discussion Papers 7698, LICOS - Centre for Institutions and Economic Performance, KU Leuven.

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