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EU enlargement and consequences for FDI assisted industrial development

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Author Info
Narula, Rajneesh () (Henley Business School, University of Reading)
Bellak, Christian () (University of Economics Vienna)

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Abstract

Many of the new member states as well as candidate and accession countries of the EU are confident that membership will result in substantially increased inward foreign direct investment (FDI) in manufacturing. This paper discusses the policy issues and challenges that cohesion and accession countries face, applying lessons that by now have become mainstream in the parallel discussion of FDI-assisted development in the developing economies. We argue that globalisation has attenuated the benefits that accrue from EU membership for latecomers, and they must now compete for FDI not just with other European countries but also with non-EU emerging economies. We posit that they should not base their industrial development strategy on mere passive reliance of FDI flows without considering how to concatenate their industrial development and the nature of the MNE activities they attract.

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Publisher Info
Paper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 067.

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Date of creation: 2008
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Handle: RePEc:dgr:unumer:2008067

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Web page: http://www.merit.unu.edu

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Related research
Keywords: FDI; European Union; MNEs; multinationals; absorptive capacity; globalization; industrial development; EU enlargement; foreign investment; direct investment;

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Find related papers by JEL classification:
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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References listed on IDEAS
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  1. Aurora Galego & Carlos Vieira & Isabel Vieira, 2004. "The CEEC as FDI Attractors: A Menace to the EU Periphery?," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 40(5), pages 74-91, September. [Downloadable!] (restricted)
  2. Elizabeth Asiedu, 2006. "Foreign Direct Investment in Africa: The Role of Natural Resources, Market Size, Government Policy, Institutions and Political Instability," The World Economy, Blackwell Publishing, vol. 29(1), pages 63-77, 01. [Downloadable!] (restricted)
  3. Breuss, Fritz & Egger, Peter & Pfaffermayr, Michael, 2001. "The impact of Agenda 2000's structural policy reform on FDI in the EU," Journal of Policy Modeling, Elsevier, vol. 23(7), pages 807-820, October. [Downloadable!] (restricted)
    Other versions:
  4. Narula,Rajneesh & Criscuolo,Paola, 2002. "A novel approach to national technological accumulation and absorptive capacity: Aggregating Cohen and Levinthal," Research Memoranda 018, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology. [Downloadable!]
    Other versions:
  5. Lall, Sanjaya & Narula,Rajneesh, 2004. "FDI and its role in economic development: Do we need a new agenda?," Research Memoranda 019, Maastricht : MERIT, Maastricht Economic Research Institute on Innovation and Technology. [Downloadable!]
  6. Robert Stehrer & Christian Bellak & Markus Leibrecht, 2008. "The Role of Public Policy in Closing Foreign Direct Investment Gaps: An Empirical Analysis," Working Papers 48, The Vienna Institute for International Economic Studies, wiiw. [Downloadable!]
  7. Altomonte, Carlo & Guagliano, Claudia, 2003. "Comparative study of FDI in Central and Eastern Europe and the Mediterranean," Economic Systems, Elsevier, vol. 27(2), pages 223-246, June. [Downloadable!] (restricted)
  8. Sanjaya LALL, 2004. "Reinventing Industrial Strategy: The Role Of Government Policy In Building Industrial Competitiveness," G-24 Discussion Papers 28, United Nations Conference on Trade and Development. [Downloadable!]
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  9. Christian Bellak & Markus Leibrecht & Joze P. Damijan, 2007. "Infrastructure endowment and corporate income taxes as determinants of Foreign Direct Investment in Central- and Eastern European Countries," LICOS Discussion Papers 19307, LICOS - Centre for Institutions and Economic Performance, K.U.Leuven. [Downloadable!]
    Other versions:
  10. Garmel, Kateryna & Maliar, Lilia & Maliar, Serguei, 2008. "EU eastern enlargement and foreign investment: Implications from a neoclassical growth model," Journal of Comparative Economics, Elsevier, vol. 36(2), pages 307-325, June. [Downloadable!] (restricted)
  11. Frank Barry, 2004. "Prospects for Ireland in an Enlarged EU," The World Economy, Blackwell Publishing, vol. 27(6), pages 829-852, 06. [Downloadable!] (restricted)
  12. Kalotay, Kalman, 2004. "The European flying geese: New FDI patterns for the old continent?," Research in International Business and Finance, Elsevier, vol. 18(1), pages 27-49, April. [Downloadable!] (restricted)
  13. G R G Benito & B Grøgaard & R Narula, 2003. "Environmental influences on MNE subsidiary roles: economic integration and the Nordic countries," Journal of International Business Studies, Palgrave Macmillan Journals, vol. 34(5), pages 443-456, September. [Downloadable!] (restricted)
  14. Joze Mencinger, 2003. "Does Foreign Direct Investment Always Enhance Economic Growth?," Kyklos, Blackwell Publishing, vol. 56(4), pages 491-508, November. [Downloadable!] (restricted)
  15. Kimberly A. Clausing & Cosmina L. Dorobantu, 2005. "Re-entering Europe: Does European Union candidacy boost foreign direct investment?," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(1), pages 77-103, 01. [Downloadable!] (restricted)
  16. Dani Rodrik & Arvind Subramanian & Francesco Trebbi, 2004. "Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development," Journal of Economic Growth, Springer, vol. 9(2), pages 131-165, 06. [Downloadable!]
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  17. Buch, Claudia M. & Kokta, Robert M. & Piazolo, Daniel, 2003. "Foreign direct investment in Europe: Is there redirection from the South to the East?," Journal of Comparative Economics, Elsevier, vol. 31(1), pages 94-109, March. [Downloadable!] (restricted)
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