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International Portfolio Investments in Central and Eastern European Countries

Author

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  • Radostina Stamenova

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The paper aims to identify the factors which determine international portfolio investments in Central and Eastern European countries. The study was performed using a multivariate regression analysis of panel data, covering 11 countries in the period 1999-2018. The results show that the change in global risk factor has the strongest impact on IPI in the analysed group of countries. Other statistically significant determinants include EU membership, currency risk, government debt and stock market capitalization.

Suggested Citation

  • Radostina Stamenova, 2020. "International Portfolio Investments in Central and Eastern European Countries," Nauchni trudove, University of National and World Economy, Sofia, Bulgaria, issue 5, pages 191-203, December.
    • Handle: RePEc:nwe:natrud:y:2020:i:5:p:191-203
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    File URL: http://unwe-research-papers.org/bg/journalissues/article/10327
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    More about this item

    Keywords

    international portfolio investment; Central and Eastern Europe; panel data analysis;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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