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Does the level of human capital matter for FDI in the Western Balkan countries?

Author

Listed:
  • Marija Petrović-Ranđelović

    (Faculty of Economics, University of Niš, Trg. kralja Aleksandra Ujedinitelja 11, 18105, Niš, Serbia)

  • Tamara Rađenović

    (Faculty of Economics, University of Niš, Trg. kralja Aleksandra Ujedinitelja 11, 18105, Niš, Serbia)

  • Bojan Krstić

    (Faculty of Economics, University of Niš, Trg. kralja Aleksandra Ujedinitelja 11, 18105, Niš, Serbia)

  • Vladimir Mićić

    (Faculty of Economics, University of Kragujevac, Kragujevac, Serbia)

Abstract

The purpose of this paper is to investigate the importance of human capital, as location determinant for the foreign direct investment (FDI) decisions in the Western Balkan Countries between 2008 and 2016. Apart from the human capital indicators, several location determinants were used as control variables. The hypothesis has been tested by employing correlation and regression analysis. The empirical findings revealed the positive impact of primary education and the negative impact of tertiary education on the inflows. The analysis showed that political stability and control of corruption are more important location determinants than human capital. Therefore, the policy measures should be directed towards the improvement of institutional framework and creating a supporting environment for the FDI inflows.

Suggested Citation

  • Marija Petrović-Ranđelović & Tamara Rađenović & Bojan Krstić & Vladimir Mićić, 2020. "Does the level of human capital matter for FDI in the Western Balkan countries?," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 70(3), pages 381-405, September.
    • Handle: RePEc:aka:aoecon:v:70:y:2020:i:3:p:381-405
    DOI: 10.1556/032.2020.00019
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    More about this item

    Keywords

    human capital; education; foreign direct investment; Western Balkan countries;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • I25 - Health, Education, and Welfare - - Education - - - Education and Economic Development
    • P30 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - General

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