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FDI into transition economies

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  • S. Estrin
  • M. Uvalic

Abstract

type="main" xml:id="ecot12040-abs-0001"> The article explores the determination of foreign direct investment (FDI) into the Balkan transition economies – Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Montenegro, Romania and Serbia. Detailed FDI inflows to Southeast Europe are analysed to determine the main differences in the volume, timing and sectoral structure of FDI within the region and in comparison to the Central East European countries. A gravity model for all transition economies during 1990–2011 is then estimated to assess whether the factors driving FDI to the Western Balkans are different. They are found to be so; even when the size of their economies, distance from the source economies, institutional quality and prospects of EU membership are taken into account, Western Balkans countries receive less FDI than other transition countries. These issues are of policy relevance for the Balkan economies and ought to contribute to the current debate on the ‘new growth model’.

Suggested Citation

  • S. Estrin & M. Uvalic, 2014. "FDI into transition economies," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 22(2), pages 281-312, April.
  • Handle: RePEc:bla:etrans:v:22:y:2014:i:2:p:281-312
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    File URL: http://hdl.handle.net/10.1111/ecot.2014.22.issue-2
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    Citations

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    Cited by:

    1. Gheorghe H. Popescu, 2014. "FDI and Economic Growth in Central and Eastern Europe," Sustainability, MDPI, Open Access Journal, vol. 6(11), pages 1-15, November.
    2. Ivan Vujačić & Jelica Petrović Vujačić, 2016. "Privatization In Serbia – An Assesment Before The Last Round," Economic Annals, Faculty of Economics, University of Belgrade, vol. 61(209), pages 45-78, April - J.
    3. Arslan, Ahmad & Tarba, Shlomo Y. & Larimo, Jorma, 2015. "FDI entry strategies and the impacts of economic freedom distance: Evidence from Nordic FDIs in transitional periphery of CIS and SEE," International Business Review, Elsevier, vol. 24(6), pages 997-1008.
    4. Ramona Jimborean & Anna Kelber, 2017. "Foreign Direct Investment Drivers and Growth in Central and Eastern Europe in the Aftermath of the 2007 Global Financial Crisis," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 59(1), pages 23-54, March.
    5. Saul Estrin, 2017. "Foreign direct investment and employment in transition economies," IZA World of Labor, Institute for the Study of Labor (IZA), pages 330-330, January.

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