Search results - CEJSH

1

China’s Foreign Investment Encouraged Catalogue and Negative Lists as a Tool of Foreign Direct Investment Attraction

100%

Jakubczak J.

Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia

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2020

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vol. 54

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issue 2

EN

Theoretical background: Due to the growing maturity of Chinese market the country needs to adjust its policy regarding foreign direct investment (FDI), i.e. to increase openness for FDI, to keep control over them in key industries and to influence their inflow in desired industries and regions. Adopting the negative-list approach and changes in both the negative list and encouraged industry catalogue provides tools for this challenge.Purpose of the article: The purpose of this article is to present how changes in China’s Foreign Investment Encouraged Catalogue and Negative Lists both in free-trade zones (FTZs) and at the national level are used as a tool for managing country’s FDI inflow.Research methods: Analysis of legal documents and reports as well as literature review.Main findings: Starting from the adoption of negative-list approach in FTZs in 2013, the negative lists had been drastically reduced both in reference to FTZs and national level. Those reductions lead to a decrease in China FDI restrictiveness index. FTZs were used as a testing area for both the negative list composition and negative-list approach itself. Negative lists allowed the state to keep control over FDI in key industries allowing, at the same time, greater freedom for foreign investors. Encouraged catalogue is used not only as a tool for attracting FDI from desired industries but also for addressing regional inequalities.

2

FOREIGN DIRECT INVESTMENT IN POLAND AND IN POLISH – TURKISH ECONOMIC RELATIONS

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Żołądkiewicz K.

International Journal of Emerging and Transition Economies (IJETE)

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2008

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vol. 1

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issue ISSUE2

219-230

EN

Due to economic growth Poland has been perceived as a country with good development prospects. It is an important factor to attract and to maintain substantial inflow of foreign direct investment (FDI) into Polish economy. Turkey belongs to major foreign investors in Poland. However, there is still a lot of potential in Turkish investment.

3

Attractiveness of foreign investments in Albania: a focused analysis of factors, constrains and policy assessment

94%

Dragusha (Spahija) B., Osmani E.

Academicus. International Scientific Journal

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2013

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issue 07

72-83

EN

Foreign direct investments are very important for the implementation of strategic reforms, transfer of advanced technologies and managerial methods, thereby stimulating economic growth in developing countries and in particular, transition economies such as Albania is. During the last years, Albania experienced an increase in foreign investors’ interest in a wide range of sectors, with energy generation, telecommunication, cement production, mining, oil and industrial parks heading the list. However, the major obstacle factors for FDI inflows seem to remain the same: pervasive corruption, weak law enforcement, poor rule of law, lack of developed infrastructure, lack of a reliable energy supply and insufficiently defined property rights. Determining the factors that attract FDI, and furthermore identify the main characteristics of the host country’s economy, are essential to understand the reason of FDI inflows to a country or region. In the empirical perspective, various studies give different results. More specifically, this paper has focused on determining the factors for and against FDI in Albania.

4

The Role of Incentives in Attracting FDI to the New EU Member States

94%

Dorożyński T., Kuna-Marszałek A.

Journal of Management and Financial Sciences

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2016

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vol. 23(1)

23-40

EN

In this article, we attempt to assess the selected investment incentives as determinants of investment attractiveness of the new EU Member States. This study is structured as follows. Firstly, it explores the existing literature on investment incentives. Then, we examine the major investment incentives offered by the new EU Member States. The final section examines the correlation between selected variables characteristic of investment incentives and the inflow of FDI. The study is based on statistical methods (Spearman’s rank correlation and Pearson correlation). Finally, we present the conclusions reached.

5

Rola bezpośrednich inwestycji zagranicznych w kształtowaniu profilu gospodarczego województwa podkarpackiego

94%

Puchalska K.

Przedsiębiorstwo i Region

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2016

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issue 8

88-98

EN

The effects of FDI inflows to the region are the subject of many theoretical considerations, both quantitative and qualitative. In the context of shaping the competitiveness of the region receiving capital effects can be both positive and negative. Whether the positive effects predomi-nate in the region over the negative results depends on the possibilities inherent in the region. SubcarpathianVoivodship, despite the weak notes in the rankings of investment attractiveness has its economic profile. It is the aerospace industry, but also electrical engineering, biotechnology, IT and chemical industries. The region has a large concentration of companies especially the aviation industry, research centers and developed educational and training facilities

6

Analysis of the Cobb-Douglas Production Function as a Tool to Investigate the Impact of FDI Net Inflows on Gross Domestic Product Value in Poland in the Period 1994-2012

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Kosztowniak A.

Oeconomia Copernicana

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2014

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vol. 5

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issue 4

169-190

EN

The purpose of this paper is to analyse the impact of foreign direct investments net inflows on changes in GDP value in Poland in the period between 1994 and 2012 with the use of the Cobb-Douglas production function. The paper consist of five parts. Parts I and II present some aspects of the FDI influence on economic growth from the theoretical and empirical point of view. Part III defines conditions indispensable for the positive FDI impact on the economy of the host country. Part IV outlines changes of FDI flows in Poland in the period of 1994-2012. Part V includes the main assumptions of the Cobb-Douglas production function and an estimate of changes in GDP value for Poland in the period 1994–2012 with the use of the VECM. The factors significant for economic growth are also identified, including the significance of the net FDI inflows. Eventually, the effect of gross fixed capital formation, employment, FDI net inflows, exports and R&D on changes in the GDP value are determined.

7

THE EFFECTS OF FOREIGN OWNERSHIP AND SIZE ON FIRM PERFORMANCE: EVIDENCE FROM PANEL DATA ANALYSIS OF ISE LISTED FIRMS

94%

Balsarı Ç. K., Üçdoğruk Y.

International Journal of Emerging and Transition Economies (IJETE)

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2010

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vol. 3

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issue 1

93-114

EN

The role of foreign direct investment (FDI) in economic development and its contribution to the performance of domestic firms has motivated researchers to initiate studies for analyzing the impact of FDI on economic performance. The literature on the role of FDI mainly focuses on the production, employment, economic growth, balance of payments, knowledge spillovers and general welfare of the recipient country. However, economic growth is triggered by firms that are able to transform these positive impacts of FDI into improved firm performance. Nevertheless, the impact of FDI on firm performance has not been investigated at firm level widely. The aim of this paper is to examine whether FDI and investment incentives can be justified on the basis of academic research regarding their firm performance effect. A panel data of non-financial firms listed at Istanbul Stock Exchange (ISE) for the period 1998-2007 is used to model firm performance in terms of return on assets and sales as a dynamic process. This paper contributes to the existing literature by providing firm level empirical evidence on the impact of investment incentives and foreign ownership together with size on firm performance. Our results suggest that large and foreign ISE listed firms perform better than domestic firms. Moreover, investment incentives, as both determinants of FDI decisions and as their stand alone positive impact on firm performance, can create the economic environment in which FDI inflows can be transformed into positive returns both for recipients and investors.

8

Empirical linkages between some economic factors and foreign direct investment in BRICS countries

94%

Gurshev O.

Zeszyty Studenckie Wydziału Ekonomicznego „Nasze Studia”

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2019

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issue 9

122-135

EN

In 2003 Goldman Sachs published a report written by Wilson and Purushothaman entitled Global Economics Paper No. 99: Dreaming With BRICs: The Path to 2050, which central idea is that over the next 50 years, Brazil, Russia, India and China could become a much larger force in the world economy, even larger than the current G7 economies in US dollar terms. In 2017 BRICS joint contribution to the world economy was 23.6 per cent and according to the International Monetary Fund (IMF) predictions this is set to rise to 26.8 per cent by 2022. Based on the used estimation, the biggest contributor to the FDI inflows is an index of economic openness, where decreasing barriers for trade and investment increase country’s exposure to the global economy, which in return has a significant effect in attracting FDI to the economy. Secondly, in majority of cases change in both import and export values tend to negatively affect FDI inflows, such phenomenon does not necessarily mean that country must not engage and liberalize its trade policy, but that the impact of those factors is inconsistent and has to be researched further. Thirdly, GDP contribution confirms the gravity model hypothesis as larger economies tend to attract larger volumes of FDI inflows, however in case of China this effect seems to be slightly reversed. Lastly, the effect of trade balance on FDI inflows remains complex to capture, however a dummy variable method applied in this paper can be applied to countries that have both positive and negative trade balance dynamic.

PL

W 2003 roku Goldman Sachs opublikował raport napisany przez Wilsona i Purushothamana zatytułowany "Global Economics Paper No. 99: Dreaming With BRICs: The Path to 2050, którego główną ideą jest to, że w ciągu następnych 50 lat Brazylia, Rosja, Indie i Chiny mogą stać się znacznie większa siła w światowej gospodarce, nawet większa niż obecne gospodarki G7 w ujęciu dolarowym. W 2017 r. Wspólny wkład BRICS w gospodarkę światową wyniósł 23,6%, a według prognoz Międzynarodowego Funduszu Walutowego (MFW) do 2022 r. Ma wzrosnąć do 26,8%. Na podstawie wykorzystanych szacunków największy udział w napływie BIZ stanowi wskaźnik otwartości gospodarczej, gdzie malejące bariery w handlu i inwestycjach zwiększają ekspozycję kraju na globalną gospodarkę, co z kolei ma znaczący wpływ na przyciąganie bezpośrednich inwestycji zagranicznych do gospodarki. Po drugie, w większości przypadków zmiana zarówno wartości importu, jak i eksportu wpływa negatywnie na napływ BIZ, zjawisko to niekoniecznie oznacza, że kraj nie może angażować się i liberalizować swojej polityki handlowej, ale że wpływ tych czynników jest niespójny i musi być zbadałem dalej. Po trzecie, wkład PKB potwierdza hipotezę modelu grawitacji, ponieważ większe gospodarki mają tendencję do przyciągania większych wolumenów napływów BIZ, jednak w przypadku Chin efekt ten wydaje się być nieco odwrotny. Wreszcie, wpływ salda handlowego na napływ BIZ jest nadal trudny do uchwycenia, jednak zastosowana w niniejszym dokumencie metoda zmiennej fikcyjnej może być stosowana do krajów, które mają zarówno dodatnią, jak i ujemną dynamikę bilansu handlowego.

9

Determinants of Foreign Direct Investment Inflows in Central and Eastern European Countries

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Stawicka M. K.

Oeconomia Copernicana

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2014

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vol. 5

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issue 2

7-20

EN

: In the paper the author tries to analyse the value of foreign direct investments inflow into certain Central and Eastern Europe countries and to assess determinants which cause these countries to attract large value of the foreign direct investments. Twenty countries of the aforementioned region were analysed. Ten of them belong to the European Union including three belonging to the Euro-zone. Additionally, the paper contains presentation of the most significant determinants of the foreign direct investments based on investors’ motives. In order to achieve the aforementioned goal, the author reviewed the literature on the subject paying special attention to the issues in question, and she presented the results of the survey focused on the FDI determinants in the economies which are the subject of this paper. The paper also contains results of two surveys conducted by the author in 2006 and 2012 regarding motives of the entrepreneurs who make foreign direct investments in the territory of the EU countries. Review of the theory, analysis of general empirical observations and own surveys of the author prove that the size of a market, the possibility to maximize profits and discounts and privileges for investors are the most substantial internal and external factors which encourage entrepreneurs to invest on foreign markets. Moreover, membership in the European Union and/or the Eurozone, as well as the warranty of macroeconomic stability of a country also pose a substantial advantage when an investor chooses the location for an investment.

10

Terrorism and investment in Africa: Exploring the role of military expenditure

94%

Iheonu C. O., Ichoku H. E.

Economics and Business Review

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2022

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vol. 8

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issue 2

92-112

EN

The aim of this study is to investigate the inuflence of military expenditure on the relationship between terrorism and investment in twenty-four African countries for the period 2001 to 2018. The study utilizes xfied eefcts regression with Driscoll and Kraay standard error and cushions the eefct of simultaneity and reverse causality us ing the lags of the regressors as instruments. eTh empirical results reveal the negative eefct of terrorism on both domestic investment and foreign direct investment (FDI). The study further reveals a negative net eefct of military expenditure on the relation ship between terrorism and investment. Furthermore, it was discovered that a threshold of 2% to 5% of military expenditure in GDP is required for military expenditure to osfet the negative eefct of terrorism on FDI. eTh study recommends that counterterrorism initiatives be tailored more towards inclusive growth policies, increasing access to education, and improving the quality of governance.

11

Offshoring in Business Services Sector Over the Business Cycle: A Case of Growth of the International Cooperation

94%

Chilimoniuk-Przeździecka E.

Folia Oeconomica Stetinensia

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2012

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vol. 10

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issue 1

7-19

EN

In this paper I analyze the role of business service offshoring in international cooperation over the recession. In business services - as described in Schumpeterian literature - external restructuring including resource and production relocation is more intensive during recession periods while intensive internal restructuring accompanies expansion periods. As external restructuring encompass business processes fragmentation and offshoring of services, I also argue - taking into account historical evidence - that current economic crisis would result in growing service offshoring in business service sector. I expect that many financial institutions would relocate part of their business processes abroad, where operating costs are lower, as they find that external restructuring via offshoring is the way to survive. This, in turn, will be the most possible result in growth of service offshoring projects located in CEE and Asia, as these two locations were the most attractive ones in recent years for service offshoring. The process is reflected by growth of FDI outflows from developed economies to CEE and Asia as well as growth of business and IT services trade between the mentioned economies. However, I also expect that in short run (one year perspective) we will experience tremendous decrease of FDI flows including investment in service offshoring, nevertheless the share of FDI flows related to service offshoring in total FDI flows will increase.

12

Determinants of FDI in Czech Manufacturing Industries between 2000-2007

94%

Michalíkovń E., Galeotti E.

South East European Journal of Economics and Business

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2010

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vol. 5

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issue 2

21-32

EN

The Czech Republic (and its manufacturing industry) has been a successful recipient of foreign direct investment over recent years. Therefore, it is important to understand the decisions made by foreign investors where to place their investments and how to decide on their location between alternative industries. The aim of this paper is to find and estimate an econometric model describing the determinants of foreign direct investment (FDI) in the manufacturing industry of the Czech Republic between 2000-2007 and to make a review of recent literature on the topic. The econometric model includes several economic variables (for example labor, physical capital, R&D, profits per labor, Balassa index). Together with simple techniques of estimation (OLS, fixed effects) we used a generalized method of moments (GMM). In an effort to improve the result we used also a least trimmed squares estimator (LTS) from the class of robust estimators as a diagnostic tool for the heterogeneous pattern of data.

13

THE ROLE OF FDI IN QUALITY-BASED COMPETITIVENESS: THE CASE OF CZECH REPUBLIC

94%

Kadeřábková A., Rojíček M.

Ekonomický časopis (Journal of Economics)

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2008

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vol. 56

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issue 4

333-352

EN

The paper evaluates the qualitative aspects of the Czech Republic position in the global economic flows in terms of their knowledge intensity. The stress is being put on structural characteristics of value-added, FDI and R&D and the innovation activities indicating the change of competitive advantage towards the increasing role of internal innovation capacity and unique product and processes. This change, however, may not be fast enough to compensate for weakening cost-based competitiveness. Despite the increasing share of FDI companies in domestic R&D activities, their average knowledge intensity remains low. The prevailing competitive strategy relies on adoption of foreign technology knowledge to local needs, possibly with minor adjustments.

14

The influence of transnational corporations on society`s safety based on activity of Amazon.com in Poland and Great Britain

94%

Siemiątkowski A.

Torun International Studies

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2016

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issue 9

131-140

EN

Social influence is not identical in each country or society, since activity of biggest corporations is so diverse. A lot of factors – both on the corporation side, as individual countries regulations – influence it, as well as societies and local communities specification. The aim of this article is to characterize the influence of transnational corporations on local communities safety on the example of Amazon.com corporation. Authors compared instances of two countries, in which this company runs le. Poland and Great Britain. Due to differences in conditions of functioning on these markets (e.g. on the level of economic growth or society), comparison of these two cases can give interesting results. An additional asset is the fact that author was an Amazon employee and he made many absorbing observations about the meaning of working in this corporation for members of local communities. The presence of transnational corporations in local area has a significant impact on local communities safety, because of influence on key needs of local societies members’ in terms of safety. The main thing is employment and salary. Very often huge logistics centres or manufacturing plants become the key employer in the region.

15

FDI Inflow to Special Economic Zones in Poland Regional Approach

94%

Dorożyński T., Świerkocki J., Urbaniak W.

Journal of Management and Financial Sciences

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2017

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vol. 27(1)

87-103

EN

One of the ways to convince investors, in particular foreign ones, to participate in the pursuit of host country’s economic policies leads through the development of Special Economic Zones (SEZs), which are designed to offer business environment more favourable than in other locations. The SEZs, which have been established and developed in Poland, play a positive role in attracting foreign direct investment (FDI) or creating new jobs but they may also have negative consequences, such as deepening regional disproportions in the country. This paper aims at examining whether location in a particular region (understood as a unit of administrative division of the country at the level of a voivodship) could be a factor determining the inflows of foreign direct investment (FDI) to the SEZs. The study uses statistical methods (Spearman’s rank correlation and Pearson correlation). Our calculations have shown statistically significant positive relationships between FDI inflow to SEZs and coefficients that describe the attractiveness (collective and partial) and economic advancement of voivodships. However, it seems that against hopes vested in them, SEZs do not reduce regional economic differentiation in Poland. The results may suggest the need to reconsider the so far applied policy designed to support investors. At the same time, they prove that State interference intended to mitigate market imperfections may itself become the source thereof.

16

The 2020 Foreign Investment Law of China. Confucianism and New Challenges for Social Development

94%

Czarnecki Ł.

Contemporary Central and East European Law

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2019

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issue 1 (133)

94-103

EN

On January 1, 2020 the new Foreign Investment Law of the People’s Republic of China (中华人民共和国外商投资法) entered into force to promote investments in China. The aim of the law is to foster cross border investments. This law was passed on March 15, 2019 by the National People’s Congress. The Chinese FDI legal framework is composed of a set of laws and regulations that are dynamically shaping the economic reality. What are the possible tensions between the new law and the complex system of values in China? Is the new law an agent of implementing de facto social development? In summary, the results show that there is a complex relationship between FDI and social development in China. The new Chinese law might be an inspirational source of non-European legal tradition for Central Europeans.

17

Location Factors of Foreign Direct Investment: A Regional Perspective

94%

Jaworek M., Kuczmarska M., Kuzel M.

Olsztyn Economic Journal

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2018

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vol. 13

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issue 2

153-165

EN

The following article presents the results of three research projects on foreign direct investment (FDI) in the Kujawsko-Pomorskie Province. They have been conducted by the Nicolaus Copernicus University team in 2003–2004, 2011–2012 and 2014–2016 respectively. The research was carried out using the same research method and covered both local authorities and enterprises with foreign capital operating in the province. The results of these studies allowed the authors to compare the assessments of FDI location factors among both groups of respondents as well as to identify potential changes in their perception over time and to confront these conclusions with the results of other research studies carried out in several other Polish provinces.

18

The Investment Development Path – a bilateral perspective of Germany and Poland

94%

Götz M., Trąpczyński P.

Przegląd Zachodni

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2016

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issue 3(360)

19-32

EN

This paper aims to explore the pattern of foreign direct investment (FDI) between Poland and Germany. It focuses on the bilateral aspects of the Investment Development Path (IDP) which so far seems to have been a rather neglected research area. Evolution along the IDP has been, with some exceptions, studied mainly globally without differentiating between partner countries. The conducted analysis sheds light on mutual Polish-German investment relations by putting them in the context of the IDP concept. The obtained findings can be supportive in formulating policy guidelines.

19

Primer on the Cluster Impact on Internationalisation in the Form of FDI in the Time of Industry 4.0

94%

Götz M.

European Spatial Research and Policy

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2020

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vol. 27

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issue 1

195-220

EN

The novelty of Industry 4.0 (I4.0) as a research topic means that the literature covering the interrelations between digital business transformation and categories such as internationalisation, foreign direct investment (FDI), or clusters is scant. This paper shows that clusters may contribute to the advancement of I4.0 while at the same time they stimulate the internationalisation of indigenous firms and the inflow of foreign investors. Based on conceptual deliberations it develops a research agenda for exploring how clusters might affect OFDI and IFDI by facilitating the I4.0. It can advance our understanding on the spatial aspects of the ongoing business digital transformation.

20

Exploring Foreign Direct Investment from Poland Using Grounded Theory Method

94%

Götz M.

Oeconomia Copernicana

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2013

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issue 2

73-96

EN

The aim of this study, conducted as part of the project “Polish direct investment in the mature markets of Western Europe”, was to propose a new concept, along the lines of a grounded theory, and emerging from the empirical data, seeking to explain the phenomenon of Polish investment abroad. Following methodological guidelines (GTM, or grounded theory method), including the steps of sampling, sorting and coding data, resulted in an analytic scheme that may provide a framework for the study of Polish FDI (foreign direct investment), particularly in the Western Europe. The results indicate that foreign expansion is sometimes regarded as a guarantee of a firm’s continued existence in Poland and beyond. A certain syncretism, or dialectic nature, of Polish investment in the markets of Western Europe, which may reflect the specific nature of FDI and may serve as a practical measure of this “diversity,” was identified in the course of this work. The results should enrich the existing literature concerning the relatively weakly conceptualized categories of Polish foreign investment and should contribute to the further development of research on this issue.

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