Public administration, especially local government administration has no macroeconomic instruments, it may only use various stimulants for foreign investors. It also does not have good financial instruments and may only use reductions and exemption from local taxes, in particular land and property taxes. One of more important determinants of location depending, to large extent, on actions of local governments constitutes well developed infrastructure, mostly roads but also the one connected with availing lands to entrepreneurs for investing i.e. facilitating land with sewage system, water supply system, gas and energy system (e.g. special economic zones). National, regional and local authorities should actively create a proper investment climate, favourable to external investments (i.e. foreign, national, regional) and the one directed at retaining enterprises that presently function. The actions which may influence the improvement of the investment climate depend on political determinants and economic situation of a given country or region, on the progress directed at the improvement of the investment climate in the future, the results of liberalization of the policy regarding foreign direct investments and previous activity of promotion . The investment climate constitutes, apart from natural (material, market, cost) advantages of a given area, the integral component of the combination of location determinants influencing the choice of a given country, region or the place for direct location within a region. As for practice, in the conditions of small differences among countries and regions applying for foreign direct investments (FDI), the subjective opinion of investors regarding the location of a future investment plays a crucial role.
In this paper we examine the degree of attractiveness of 134 national economies from the point of view of multinational producers – foreign investors – during the period 2011 – 2012. Our theoretical framework is determined by the so-called varieties of capitalism theory that enables us to describe the examined economies in terms of their institutional setup. We use factor analysis to identify latent factors that characterize the institutions of capital markets, labour markets, and government interventions in the field of fiscal policy and redistribution. Our results imply that labour market institutions and characteristics represent the decisive factor in determining the degree of attractiveness of these economies. According to our results, Slovak economy belongs to the group of the most attractive countries; however, the sustainability of this position critically depends on labour market developments – notably on maintaining the flexibility of employing workers, and the relatively high level of labour force qualifications and skills.
Among the main world economic features in recent decades has been marked acceleration in the flows of operating capital into regions, countries and regions within countries, coupled with uneven distribution of such capital. At the end of 2002, the developed countries held two-thirds of the investment of operating capital, while developing and transforming countries shared only one-third. Sixty-three per cent of all FDI in Asia went to China and Hong Kong, while Brazil and Mexico took 51 per cent of Latin America's, and the Czech Republic, Poland and Hungary 58 per cent of Central and Eastern Europe's. In Portugal, 80 per cent of the foreign investment occurs in Lisbon and environs, while almost 70 per cent in Spain goes to Madrid. It is generally possible to show a connection between regional indices of economic development and stock of investment of operating capital, and foreign investment has become an economic space-forming factor. The article uses the example of Hungary to examine connections between investment of operating capital and regional economic development. The authors present the spatial distribution of foreign investment, changes in this, and regional trends in economic growth, investment, sales, exports and employment. Statistical indices are used to examine the contribution of FDI to economic inequality and its space-forming role in Hungary.
The article analyses macroeconomic environment influence on German investment in banking sector in Poland. The Polish-German relationships play very important role in improving investment climate, so one of the most important tasks for State Government is to build the propitious investment climate. Foreign capital play a helpful role in the process of economic growth; it can (1) support domestic development, (2) make the flow of know-how possible, and (3) contribute to increase of knowledge. The collaboration between Poland and Germany is in friendly atmosphere. The sociocultural and political environment creates good climate for investment. The largest number of Germany's foreign investment shows that relationships between our countries promote development and economic growth.
The article aims at developing methodological approaches, models and economic instruments of effective use of resource potential within a sustainable innovational socially-based economy. Relevant objectives of the study are: to set theoretical and institutional fundamentals for the formation of property relations concerning natural resources; to develop a system of payments for land and natural resources; to analyze the practice of leasing relations in agriculture and forest management of the Republic of Belarus; to analyze the lease to the mineral-raw complex; to develop tools of assessment and management of natural resources accounting for foreign investment.
The article analyzes the activities of Ukrainian and foreign companies in offshore areas. The main advantages and disadvantages of using offshore zones, both by businesses and the state. The ways of influence on offshore schemes: restriction on their use to create an offshore centre in its own territory.
The article contributes to the existing empirical evidence on the impact of the macroeconomic environment on retail prices dynamics by using panel estimates to explain inflation in Slovenia after the introduction of the euro. The authors evaluated the impact of diesel fuel prices, food prices on the world market, GDP, the bank loans to the private sector, import prices, the earnings of major merchants and the production prices for retail prices of alimentary products. The earnings of major merchants, import prices and GDP growth contributed significantly to the incline of the retail prices in the first observed period. While, the results of the empirical analysis state that the cause of increased incline of the retail prices of alimentary products after May 2007 can be attributed, mostly to the earnings of major merchants, volume of credit, world food prices, the price of diesel fuel and import prices. The impact of producers' prices was insignificant in both observed periods.
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