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FDI in the CEECs under the Impact of the Global Crisis: Sharp Declines

Author

Listed:
  • Gabor Hunya

    (The Vienna Institute for International Economic Studies, wiiw)

  • Monika Schwarzhappel

    (The Vienna Institute for International Economic Studies, wiiw)

Abstract

The first part of the publication contains an analysis of the latest FDI trends complemented by detailed methodological explanations. After years of continuous growth, FDI inflows to the CEECs stagnated in 2008. Their decline in the NMS and in the SEE countries was compensated by a virtual boom in the CIS due to round-tripping Russian capital. In 2009 FDI is going to contract significantly, but it will still be more resilient to the crisis than other forms of foreign investment. Large FDI inflows in the past earn high rates of income to foreign investors who repatriate a growing share of their income. In some countries, in 2008 the amount of repatriated income exceeded the amount of FDI inflow. This negative direct effect of FDI on the balance of payments was partly countered by the foreign trade surplus generated by foreign affiliates. First quarter data indicate that in 2009 FDI may finance a bigger part of the, rapidly contracting, current account deficit than previously. The second part of the publication contains two sets of tables Tables I cover total flow and stock data according to the respective countries' central banks while Tables II provide more detailed FDI data by economic activity and by country. The main source of data are the central banks of the individual Central, East and Southeast European countries. FDI flows are taken from the balance of payments, stocks from the international investment position statistics. The print (PDF) version includes data on FDI total inflow/outflow in EUR, 2000-2008 FDI total inward/outward stock in EUR, 2000-2008 FDI per capita (flow, stock) and selected other reference parameters on FDI, 2000-2008 FDI inflow/outflow by form in EUR, 2000-2008 FDI income (inflow and outflow) in EUR, 2000-2008 FDI inward/outward stock data by activity (NACE rev. 1 A-Q, DA-DN), 2004-2007 or 2005-2008 FDI inward/outward stock data by country, 2004-2007 or 2005-2008 The CD-ROM (Download) version contains in addition longer time series from 1990 onwards (as far as available) a more detailed breakdown by industry (NACE rev. 1 15-37) FDI inflow/outflow by activity (NACE rev. 1 A-Q, DA-DN, 15-37) and by home/host country FDI stock by form

Suggested Citation

  • Gabor Hunya & Monika Schwarzhappel, 2009. "FDI in the CEECs under the Impact of the Global Crisis: Sharp Declines," wiiw FDI Reports 2009-05, The Vienna Institute for International Economic Studies, wiiw.
    • Handle: RePEc:wii:fdirep:fdi:2009-05
    as

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    File URL: https://wiiw.ac.at/fdi-in-the-ceecs-under-the-impact-of-the-global-crisis-sharp-declines-dlp-675.pdf
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    Citations

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    Cited by:

    1. Laura DIACONU (MAXIM) & Daniel STERBULEAC, 2017. "FDI and labour market: empirical evidence from the states that joined the European Union in 2004," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 9(3), pages 343-357, October.
    2. Bole, Velimir & Oblak, Ana & Prašnikar, Janez & Trobec, Domen, 2018. "Financial frictions and indebtedness of Balkan firms: A comparison with Mediterranean and Central European countries," Journal of Policy Modeling, Elsevier, vol. 40(4), pages 790-809.
    3. Johan Swinnen & Kristine Van Herck, 2012. "Food Security: Challenges and Opportunities for Eastern Europe and Central Asia," Asian Journal of Agriculture and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), vol. 9(1), pages 37-52, June.
    4. Egert Juuse, 2015. "“Latin Americanization” of the Estonian economy: institutional analysis of financial fragility and the financialization process," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 38(3), pages 399-425, October.
    5. Egert Juuse & Rainer Kattel, 2014. "Financialisation and the Financial and Economic Crises: The Case of Estonia," FESSUD studies fstudy20, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    6. Roman Römisch & Peter Huber & Klaus Nowotny & Ulrike Strauss, 2011. "CENTROPE Regional Development Report. Focus on Spatial Integration," WIFO Studies, WIFO, number 43885, February.
    7. Velimir Bole & Miha Dominko & Ada Guštin Habuš & Janez Prašnikar, 2019. "Countries Of Former Yugoslavia: Periphery Vs. Super-Periphery In The Great Recession And Beyond," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 64(223), pages 11-38, October –.
    8. Egert Juuse & Rainer Kattel, 2015. "Implications of the Transformation of the State-Owned Banking System into System of Foreign-Owned Banks in New Member States for Macroeconomic and Financial Stability," Working papers wpaper103, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.

    More about this item

    Keywords

    foreign direct investment; balance of payments; income repatriation; statistics; new EU member states; Southeast Europe; CIS;
    All these keywords.

    JEL classification:

    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P23 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Factor and Product Markets; Industry Studies; Population

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