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Challenges of globalization, euroregional cross-border cooperation and foreign investment

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  • Jiří Fárek

Abstract

This contribution is focused on the core changes and trends in the globalized world economy. As the globalization advances, countries and regions are challenged to shape more flexible arrangements to ensure that new risks are dealt with and the new opportunities are exploited. It is Europe's regions that are coming to the fore in matters as capacity - building and growth - related activities. As a locally rooted approach, regional cooperation can harness institutions, encourage creativity and take into account local labor, skills, infrastructure, economic mentality, business environment and communities at different levels of decision - making. Globalization has affected the magnitudes, composition and directions of capital flows. Namely in the sphere of foreign direct investment (FDI) that constitute a patent complex of capital, experience, knowledge and operational links with partners abroad. FDI contribute to the economic advancement, especially in the emerging market economies, and has proved to be resilient during financial crises. Attention is also set on motivation, benefits and disputed aspects of FDI.

Suggested Citation

  • Jiří Fárek, 2006. "Challenges of globalization, euroregional cross-border cooperation and foreign investment," Politická ekonomie, University of Economics, Prague, vol. 2006(6).
  • Handle: RePEc:prg:jnlpol:v:2006:y:2006:i:6:id:586
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    More about this item

    Keywords

    capital flows; foreign direct investment; globalization; world economy; developing countries; transnational corporations; euroregions;

    JEL classification:

    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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