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FDI in Hungary - the first mover's advantage and disadvantage

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Author Info
Sass, Magdolna () (Hungarian Academy of Sciences)
Abstract

Presenting a case study of FDI in Hungary, this paper first reviews the characteristics of FDI in Hungary since the outset of transition. It then examines the determinants of FDI in Hungary, finding that early and comprehensive privatisation and the creation of a generally business-friendly policy environment played key roles in making Hungary an early leader in FDI flows to countries in Central and Eastern Europe. But the paper also observes that some of Hungary's first-mover advantage has been eroded in recent years as other countries have provided increasingly friendly environments for FDI, often combined with lower labour costs. The paper then proceeds to assess the influence of FDI on Hungary's economy. It concludes that FDI has had, on balance, a positive impact on economic performance although hard evidence of spillovers to indigenous firms is difficult to find.

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Publisher Info
Paper provided by European Investment Bank, Economic and Financial Studies in its series EIB Papers with number 8/2004.

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Length: 29 pages
Date of creation: 18 Jun 2004
Date of revision:
Handle: RePEc:ris:eibpap:2004_008

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Related research
Keywords: Hungary; foreign direct investment;

Find related papers by JEL classification:
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes

References listed on IDEAS
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  1. Joze P. Damijan & Mark Knell & Boris Majcen & Matija Rojec, 2003. "Technology Transfer through FDI in Top-10 Transition Countries: How Important are Direct Effects, Horizontal and Vertical Spillovers?," William Davidson Institute Working Papers Series 549, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  2. Urmas Varblane & Tomasz Mickiewicz & Slavo Radosevic, 2000. "The Value Of Diversity: Foreign Direct Investmentand Employment In Central Europe During Economic Recovery," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 2, Faculty of Economics and Business Administration, University of Tartu (Estonia). [Downloadable!]
    Other versions:
  3. Laura Resmini, 2000. "The Determinants of Foreign Direct Investment in the CEECs: New evidence from sectoral patterns," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(3), pages 665-689, November. [Downloadable!] (restricted)
    Other versions:
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