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Austria's Foreign Direct Investment in Central and Eastern Europe: 'Supply Based' or 'Market Driven'?

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  • Wilfried Altzinger

    ()
    (Department of Economics, Vienna University of Economics & B.A.)

Abstract

Since 1989 Austria's investment activities in Central and Eastern Europe has intensified. Investments are concentrated in adjacent countries. Geographical proximity and close historical and cultural ties have enabled even small and medium-sized Austrian enterprises to achieve a 'first mover advantage'. Investments have been performed to a large extent in industries that are typically not connected with outsourcing activities (trade, finance and insurance, construction). Market-driven factors and strategic considerations are the ultimate objective of these investments. Only a few sectors, in particular a so-called 'core' industrial sector (metal products, mechanical products, electrical and electronic equipment), indicate that low labour costs are of importance. Trade and sales data of the affiliates support the dominance of the local market. Whilst on average 66% of the affiliates output was sold locally this share was only 39% for the 'core' industrial sector. This sector indicates particular patterns of relocation. Nevertheless, until now this part of Austria's FDI has only been of minor importance.

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Bibliographic Info

Paper provided by Vienna University of Economics, Department of Economics in its series Department of Economics Working Papers with number wuwp057.

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Date of creation: Apr 1998
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Handle: RePEc:wiw:wiwwuw:wuwp057

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Related research

Keywords: FDI; trade; internationalisation; SMEs; Central and Eastern Europe;

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References

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  1. Christian Bellak, 1997. "Austrian Manufacturing MNEs: Long-Term Perspectives," Business History, Taylor & Francis Journals, Taylor & Francis Journals, vol. 39(1), pages 47-71.
  2. Lemoine, Françoise, 1998. "Integrating Central and Eastern Europe In the European Trade and Production Network," UCAIS Berkeley Roundtable on the International Economy, Working Paper Series, UCAIS Berkeley Roundtable on the International Economy, UC Berkeley qt5r66s4ng, UCAIS Berkeley Roundtable on the International Economy, UC Berkeley.
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Cited by:
  1. Pasquale Commendatore & Ingrid Kubin & Carmelo Petraglia, 2007. "Footloose capital and productive public services," Department of Economics Working Papers, Vienna University of Economics, Department of Economics wuwp111, Vienna University of Economics, Department of Economics.
  2. Gerlinde Fellner & Matthias Sutter, 2005. "Causes, consequences, and cures of myopic loss aversion - An experimental investigation," Papers on Strategic Interaction, Max Planck Institute of Economics, Strategic Interaction Group 2005-15, Max Planck Institute of Economics, Strategic Interaction Group.
  3. Özlem Onaran, 2007. "International financial markets and fragility in the Eastern Europe: "can it happen" here?," Department of Economics Working Papers, Vienna University of Economics, Department of Economics wuwp108, Vienna University of Economics, Department of Economics.
  4. Theresa Grafeneder-Weissteiner, 2010. "Demographic change, growth and agglomeration," Department of Economics Working Papers, Vienna University of Economics, Department of Economics wuwp132, Vienna University of Economics, Department of Economics.
  5. Annemarie Steidl & Engelbert Stockhammer, 2007. "Coming and leaving. Internal mobility in late Imperial Austria," Department of Economics Working Papers, Vienna University of Economics, Department of Economics wuwp107, Vienna University of Economics, Department of Economics.
  6. Aleksandra Riedl & Silvia Rocha-Akis, 2008. "Testing the tax competition theory: How elastic are national tax bases in Western Europe?," Working Papers, Oesterreichische Nationalbank (Austrian Central Bank) 142, Oesterreichische Nationalbank (Austrian Central Bank).
  7. Engelbert Stockhammer & Paul Ramskogler, 2009. "Post-Keynesian economics How to move forward," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 6(2), pages 227-246.
  8. Theresa Grafeneder-Weissteiner & Klaus Prettner, 2009. "Agglomeration and population ageing in a two region model of exogenous growth," Working Papers, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna 0901, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  9. Eva Ryšavá & Elisa Galeotti, 2009. "Determinants of FDI in Czech Manufacturing Industries between 2000-2006," Working Papers IES, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies 2009/17, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Apr 2009.
  10. Engelbert Stockhammer & Paul Ramskogler, 2007. "Uncertainty and exploitation in history," Department of Economics Working Papers, Vienna University of Economics, Department of Economics wuwp104, Vienna University of Economics, Department of Economics.
  11. Nathalie Homlong & Elisabeth Springler, 2010. "Economic Development and Foreign Direct Investment: How to Create Sustainable Development An Analysis of the Potential for Sustainable Development on the Indian Subcontinent," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 57(3), pages 333-347, September.
  12. Wilfried Altzinger, 1998. "Structure and objectives of Austria's foreign direct investment in the four adjacent Central and Eastern European countries Hungary, the Czech Republic, Slovenia and Slovakia," ERSA conference papers ersa98p74, European Regional Science Association.
  13. Piteli, Eleni E.N., 2009. "Foreign Direct Investment in Developed Economies: A Comparison between European and non - European Countries," Papers, Economic and Social Research Institute (ESRI) DYNREG44, Economic and Social Research Institute (ESRI).

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