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Between Geopolitics And Geoeconomics – The Influence Of Foreign Direct Investments (Fdi) On The Economy Of Serbia

Author

Listed:
  • Marijana Maksimović
  • Neven Cvetičanin
  • Ivan Nikolić

Abstract

The subject of this analysis is foreign companies in Serbia, which are classified into six groups according to origin of capital. A survey of 28 companies with the largest share of gross value added (GVA) for Serbia was conducted. The research aimed to determine whether lowand medium-developed countries are able to develop when faced with conflicts and confrontations between large countries in the geopolitical and geoeconomic field using Serbia as a case study. A further goal of the research was to establish whether Serbia itself can record industrial growth in such conditions. The results presented cover a two-year period from the beginning of the Russian “special operation” in Ukraine, i.e. February 2022, to February 2024. The analysis showed that industrial production in Serbia has exhibited positive results in the last two years thanks to the participation of FDI from non-European companies. Two key data sources were used in the paper, namely Eurostat’s statistical databases and data from the Statistical Office of the Republic of Serbia.

Suggested Citation

  • Marijana Maksimović & Neven Cvetičanin & Ivan Nikolić, 2024. "Between Geopolitics And Geoeconomics – The Influence Of Foreign Direct Investments (Fdi) On The Economy Of Serbia," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 69(243), pages 69-92, October –.
    • Handle: RePEc:beo:journl:v:69:y:2024:i:243:p:69-92
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    References listed on IDEAS

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    1. Samina Sabir & Anum Rafique & Kamran Abbas, 2019. "Institutions and FDI: evidence from developed and developing countries," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 5(1), pages 1-20, December.
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    4. Aiyar, Shekhar & Malacrino, Davide & Presbitero, Andrea F., 2024. "Investing in friends: The role of geopolitical alignment in FDI flows," European Journal of Political Economy, Elsevier, vol. 83(C).
    5. Christopher Clayton & Matteo Maggiori & Jesse Schreger, 2026. "A Framework for Geoeconomics," Econometrica, Econometric Society, vol. 94(1), pages 105-136, January.
    6. Milica Uvalić & Božidar Cerović† & Jasna Atanasijević, 2020. "The Serbian Economy Ten Years After The Global Economic Crisis," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 65(225), pages 33-72, April – J.
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    Cited by:

    1. Milica Uvalić, 2025. "Fostering Serbia’S Economy Through A More Diversified Industrial Policy: Unlocking The Potential Of Internal Sources Of Growth," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 70(247), pages 7-43, October –.

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    Keywords

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    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • P29 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Other

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