IDEAS home Printed from https://ideas.repec.org/a/vrs/coecre/v19y2016i1p119-140n7.html
   My bibliography  Save this article

Investments Attractiveness. The Case Of The Visegrad Group Countries

Author

Listed:
  • Dorożyński Tomasz
  • Kuna-Marszałek Anetta

    (Ph.D., University of Łódź, Faculty of Economics and Sociology, Department of International Trade)

Abstract

In the article, we attempt to assess the investment attractiveness of the New EU Member States, using the Visegrad Group countries as examples. This study is structured as follows: First, it explores the existing literature on factors of investment attractiveness. Further we examine inward foreign direct investment flows in the Visegrad Group countries against the global performance in the area from 1990 to 2013. Next we discuss the investment attractiveness of New Member States of the European Union in selected international rankings, paying special attention to the positions occupied by the four analysed countries. The final part examines the correlation between selected variables characteristic of investment attractiveness and the inflow of foreign investment. The study is based on statistical methods (Spearman’s rank correlation and Pearson correlation). At the end we present our conclusions.

Suggested Citation

  • Dorożyński Tomasz & Kuna-Marszałek Anetta, 2016. "Investments Attractiveness. The Case Of The Visegrad Group Countries," Comparative Economic Research, Sciendo, vol. 19(1), pages 119-140, March.
  • Handle: RePEc:vrs:coecre:v:19:y:2016:i:1:p:119-140:n:7
    DOI: 10.1515/cer-2016-0007
    as

    Download full text from publisher

    File URL: https://doi.org/10.1515/cer-2016-0007
    Download Restriction: no

    File URL: https://libkey.io/10.1515/cer-2016-0007?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Fathi Ali & Norbert Fiess & Ronald MacDonald, 2010. "Do Institutions Matter for Foreign Direct Investment?," Open Economies Review, Springer, vol. 21(2), pages 201-219, April.
    2. Clarke, George R.G. & Cull, Robert & Kisunko, Gregory, 2012. "External finance and firm survival in the aftermath of the crisis: Evidence from Eastern Europe and Central Asia," Journal of Comparative Economics, Elsevier, vol. 40(3), pages 372-392.
    3. John C. Anyanwu, 2012. "Why Does Foreign Direct Investment Go Where It Goes?: New Evidence From African Countries," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 425-462, November.
    4. Hubert Janicki & Phanindra Wunnava, 2004. "Determinants of foreign direct investment: empirical evidence from EU accession candidates," Applied Economics, Taylor & Francis Journals, vol. 36(5), pages 505-509.
    5. Kimberly A. Clausing & Cosmina L. Dorobantu, 2005. "Re‐entering Europe: Does European Union candidacy boost foreign direct investment?," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 13(1), pages 77-103, January.
    6. Carstensen, Kai & Toubal, Farid, 2004. "Foreign direct investment in Central and Eastern European countries: a dynamic panel analysis," Journal of Comparative Economics, Elsevier, vol. 32(1), pages 3-22, March.
    7. Du, Julan & Lu, Yi & Tao, Zhigang, 2008. "Economic institutions and FDI location choice: Evidence from US multinationals in China," Journal of Comparative Economics, Elsevier, vol. 36(3), pages 412-429, September.
    8. Mottaleb, Khondoker Abdul, 2007. "Determinants of Foreign Direct Investment and Its Impact on Economic Growth in Developing Countries," MPRA Paper 9457, University Library of Munich, Germany.
    9. Claudia Guagliano & Stefano Riela, 2005. "Do special economic areas matter in attracting FDI? Evidence from Poland, Hungary and Czech Republic," ISLA Working Papers 21, ISLA, Centre for research on Latin American Studies and Transition Economies, Universita' Bocconi, Milano, Italy, revised Nov 2005.
    10. Simplice A. Asongu, 2015. "Drivers of Growth in Fast Emerging Economies: A Dynamic Instrumental Quantile Approach," Research Africa Network Working Papers 15/009, Research Africa Network (RAN).
    11. Busse, Matthias & Hefeker, Carsten, 2007. "Political risk, institutions and foreign direct investment," European Journal of Political Economy, Elsevier, vol. 23(2), pages 397-415, June.
    12. Mohsin Habib & Leon Zurawicki, 2002. "Corruption and Foreign Direct Investment," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 33(2), pages 291-307, June.
    13. Tomasz Dorożyński & Janusz Świerkocki & Wojciech Urbaniak, 2015. "Incentives for Attracting FDI: The Case of the Lodz Region," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 1, pages 147-169.
    14. Simplice A. Asongu & Oasis Kodila-Tedika, 2015. "Conditional determinants of FDI in fast emerging economies: an instrumental quantile regression approach," Research Africa Network Working Papers 15/003, Research Africa Network (RAN).
    15. Hadjila Krifa-Schneider & Iuliana Matei, 2010. "Business Climate, Political Risk and FDI in Developing Countries: Evidence from Panel Data," Post-Print halshs-00535798, HAL.
    16. Črt Kostevc & Tjaša Redek & Andrej Sušjan, 2007. "Foreign Direct Investment and Institutional Environment in Transition Economies," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 14(1), pages 40-54, May.
    17. Bellak, Christian & Leibrecht, Markus & Riedl, Aleksandra, 2008. "Labour costs and FDI flows into Central and Eastern European Countries: A survey of the literature and empirical evidence," Structural Change and Economic Dynamics, Elsevier, vol. 19(1), pages 17-37, March.
    18. Fisman, Raymond & Svensson, Jakob, 2007. "Are corruption and taxation really harmful to growth? Firm level evidence," Journal of Development Economics, Elsevier, vol. 83(1), pages 63-75, May.
    19. Nunnenkamp, Peter, 2002. "Determinants of FDI in developing countries: has globalization changed the rules of the game?," Kiel Working Papers 1122, Kiel Institute for the World Economy (IfW Kiel).
    20. Mamica NENE & Alketa PASHOLLI, 2011. "Financial Incentives and their Impact for Attracting FDI Survey with Foreign Investitures in Albania," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 1(7), pages 1-14, December.
    21. ., 2014. "Vanity economics: a survey and an extension," Chapters, in: Vanity Economics, chapter 2, pages 13-24, Edward Elgar Publishing.
    22. Magdalena Owczarczuk, 2013. "Government Incentives and FDI inflow into R&D – The Case of Visegrad Countries," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 1(2), pages 73-86.
    23. Kevin Honglin Zhang, 2001. "What Attracts Foreign Multinational Corporations To China?," Contemporary Economic Policy, Western Economic Association International, vol. 19(3), pages 336-346, July.
    24. Lauge Skovgaard Poulsen & Gary Clyde Hufbauer, 2011. "Foreign Direct Investment in Times of Crisis," Working Paper Series WP11-3, Peterson Institute for International Economics.
    25. Dunning, John H., 2000. "The eclectic paradigm as an envelope for economic and business theories of MNE activity," International Business Review, Elsevier, vol. 9(2), pages 163-190, April.
    26. Valerija Botrić & Lorena Škuflić, 2006. "Main Determinants of Foreign Direct Investment in the Southeast European Countries," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 13(2), pages 359-377, July.
    27. Bartels, Frank L. & Napolitano, Francesco & Tissi, Nicola E., 2014. "FDI in Sub-Saharan Africa: A longitudinal perspective on location-specific factors (2003–2010)," International Business Review, Elsevier, vol. 23(3), pages 516-529.
    28. Christian Bellak & Markus Leibrecht, 2006. "Effective Tax Rates as a Determinant of Foreign Direct Investment in Central and East European Countries: A Panel Analysis," Palgrave Macmillan Books, in: Ana Teresa Tavares & Aurora Teixeira (ed.), Multinationals, Clusters and Innovation, chapter 16, pages 272-288, Palgrave Macmillan.
    29. Bevan, Alan A. & Estrin, Saul, 2004. "The determinants of foreign direct investment into European transition economies," Journal of Comparative Economics, Elsevier, vol. 32(4), pages 775-787, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dorota Wawrzyniak, 2010. "Determinanty lokalizacji bezpośrednich inwestycji zagranicznych," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 4, pages 89-111.
    2. Bailey, Nicholas, 2018. "Exploring the relationship between institutional factors and FDI attractiveness: A meta-analytic review," International Business Review, Elsevier, vol. 27(1), pages 139-148.
    3. Masahiro Tokunaga & Ichiro Iwasaki, 2017. "The Determinants of Foreign Direct Investment in Transition Economies: A Meta-analysis," The World Economy, Wiley Blackwell, vol. 40(12), pages 2771-2831, December.
    4. Wyrwa Joanna, 2019. "Analysis of determinants of the inflow of foreign direct investment to Poland. Part I – theoretical considerations," Management, Sciendo, vol. 23(2), pages 238-262, December.
    5. Wasseem Mina, 2018. "Labor Market Policies and FDI Flows to GCC Countries," Working Papers 1201, Economic Research Forum, revised 27 May 2018.
    6. Mina, Wasseem, 2020. "Do GCC market-oriented labor policies encourage inward FDI flows?," Research in International Business and Finance, Elsevier, vol. 51(C).
    7. Tokunaga, Masahiro & Iwasaki, Ichiro, 2014. "Transition and FDI: A Meta-Analysis of the FDI Determinants in Transition Economies," RRC Working Paper Series 47, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    8. Fotini Economou & Christis Hassapis & Nikolaos Philippas & Mike Tsionas, 2017. "Foreign Direct Investment Determinants in OECD and Developing Countries," Review of Development Economics, Wiley Blackwell, vol. 21(3), pages 527-542, August.
    9. Economou, Fotini, 2019. "Economic freedom and asymmetric crisis effects on FDI inflows: The case of four South European economies," Research in International Business and Finance, Elsevier, vol. 49(C), pages 114-126.
    10. Bitzenis, Aristidis & Tsitouras, Antonis & Vlachos, Vasileios A., 2009. "Decisive FDI obstacles as an explanatory reason for limited FDI inflows in an EMU member state: The case of Greece," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(4), pages 691-704, August.
    11. Wasseem Mina & Louis Jaeck, 2015. "Labor Market Flexibility and FDI Flows: Evidence from Oil-Rich GCC and Middle Income Countries," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1501, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    12. Ron Boschma & Simona Iammarino & Raffaele Paci & Jordy Suriñach & Andrea Ascani & Riccardo Crescenzi & Simona Iammarino, 2017. "The Geography of Foreign Investments in the EU Neighbourhood," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 108(1), pages 76-91, February.
    13. Mehmed GANIĆ & Mahir HRNJIC, 2019. "Does a country’s business regulatory environment affect its attractiveness to FDI? Empirical evidence from Central and Southeast European countries," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 10, pages 89-105, December.
    14. Joel I. Deichmann & Stephen Grubaugh & Patrick Scholten, 2022. "FDI propensity and geo-cultural interaction in former Yugoslavia: pairwise analysis of origin and destination countries," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 12(3), pages 479-505, September.
    15. Victoria Donu & Martin Janíčko, 2015. "Institutional Determinants of Investment Inflows into Transition Economies," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2015(5), pages 3-23.
    16. Oana Cristina POPOVICI & Adrian Cantemir CĂLIN & Diana IVANA & Sorin DAN, 2021. "FDI Determinants Revisited: Extensive Evidence," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 103-123, December.
    17. Ramírez-Alesón, Marisa & Fleta-Asín, Jorge, 2016. "Is the Importance of Location Factors Different Depending on the Degree of Development of the Country?," Journal of International Management, Elsevier, vol. 22(1), pages 29-43.
    18. Asongu, Simplice & Nwachukwu, Jacinta, 2015. "Drivers of FDI in Fast Growing Developing Countries: Evidence from Bundling and Unbundling Governance," MPRA Paper 67294, University Library of Munich, Germany.
    19. Eric Evans Osei Opoku & Alex O. Acheampong & Janet Dzator & Nana Kwabena Kufuor, 2022. "Does environmental sustainability attract foreign investment? Evidence from developing countries," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 3542-3573, November.
    20. Miroslav Mateev & Iliya Tsekov, 2014. "Are there any top FDI performers among EU-15 and CEE countries? A comparative panel data analysis," Financial Theory and Practice, Institute of Public Finance, vol. 38(3), pages 337-374.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:coecre:v:19:y:2016:i:1:p:119-140:n:7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.