Search results - CEJSH

1

Foreign direct investment and international trade across the former Soviet economies: What do we know after 30 years of research?

100%

Gurshev O.

Journal of Economics and Management

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2023

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vol. 45

290-318

EN

Aim/purpose - This paper surveys three decades of empirical literature on foreign direct investment (FDI) and international trade across the former Soviet economic space. In this survey, we outline the current state of research, discuss data limitations, and identify topics for further studies. Design/methodology/approach - The methodology used in this study is a systematic literature review. Multiple databases were searched, including Google Scholar, IDEAS (RePEc), JSTOR, Web of Science, and others. In total, 59 papers published between 1990 and 2023 were analyzed. Findings - Our findings are severalfold. First, we highlight severe data collection problems related to foreign equity and trade outside the Baltics, Ukraine, Russia, and some Central Asian Republics (CARs). As a result, we point out the limited availability of studies that use contemporary data and cover important economic events, such as the European accession of the Baltics, the formation of new preferential trade agreements, and economic re-integration centered around Russia, and Ukraine's political stability. Research implications/limitations - This study should assist researchers in identifying prospective research directions in postcommunist economic research. The main limitations of this survey are i) the total number of papers surveyed (59), ii) the focus on empirical studies, and iii) the specific geographical area considered. Originality/value/contribution - Despite the critical role of FDI and trade in transitional economies, plenty of relevant topics have remained undiscovered (e.g., the relationship between outward FDI and profit shifting). To the best of our knowledge, no systematic survey has been done on these two areas of research.

2

Miejsce bezpośrednich inwestycji zagranicznych w globalnej gospodarce

100%

Gutowski T.

Współczesna Gospodarka

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2011

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vol. 2

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issue 1

23-28

EN

Foreign direct investment (FDI) plays an extraordinary and growing role in global business. It can provide a firm with new markets and marketing channels, cheaper production facilities, access to new technology, products, skills and financing. For a host country or the foreign firm which receives the investment, it can provide a source of new technologies, capital, processes, products, organizational technologies and management skills and as such can provide a strong impetus to economic development. The sea change in trade and investment policies and the regulatory environment globally in the past decade, including trade policy and tariff liberalization, easing of restrictions on foreign investment and acquisition in many nations, and the deregulation and privatization of many industries, has probably been the most significant catalyst for FDI’s expanded role.

3

The Impact of Business Cycles on the Foreign Direct Investment Inflows to Poland

100%

Warżała R.

Equilibrium. Quarterly Journal of Economics and Economic Policy

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2014

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vol. 9

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issue 2

25-39

EN

The core of this article is to study the impact of the last world economic crisis and world foreign direct investment fluctuations in the same period. The empirical study was based on data published by UNCTAD in annual reports, called World Investment Report. The research concerning the Polish economy was based on data of Polish National Bank. For measuring the relation between studied phenomena, the analysis of correlation was used, as well as the structure rate and the rate of growth. For the evolution of GDP fluctuations in Poland in the years 1990-2012, both the method of statistical analysis and the descriptive method were used. In the latest World Investment Report (WIR 2012) one can find the current world financial crisis involved in the drop of foreign direct investment flows. That was characteristic for the Polish economy, too. The main reasons for that are the descending investment capability of corporations, because of poorer profits level and higher costs of bank credits. The important argument for corporation investment slump is that the prospects of world economic growth are unfavourable.

4

Różnice kulturowe jako bariera podejmowania działalności zagranicznej przez polskie przedsiębiorstwa? Rozważania w świetle badań empirycznych

100%

Kuźmińska-Haberla A.

International Business and Global Economy

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2014

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vol. Volume 33

530–542

EN

The internationalization of production is getting more and more common among large Polish corporations, yet small and medium-sized enterprises rarely take the risk of conducting their operations on the international markets. Reasons for not taking actions abroad, especially in non-European countries, are very diverse. The purpose of this article is to attempt to answer the question whether cultural differences constitute a barrier for Polish companies to invest abroad, and if so, to what extent. Considerations have been carried out on the basis of empirical studies conducted on a group of Polish foreign investors. It turns out that Polish companies do not perceive cultural differences as a very significant barrier for international expansion. It should be noted, however, that the vast majority of businesses are still focused on European markets, culturally similar to Poland. In addition, the companies are not always aware of how cultural differences can affect their economic activities. Companies do not realize that a better understanding of partner’s culture can help avoid many problems and function more efficiently on the foreign market.

5

MUTUAL FOREIGN INVESTMENTS WITHIN THE VISEGRAD GROUP IN 2011-2014

100%

Rak-Młynarska E., Łapińska H.

Zeszyty Naukowe Wyższej Szkoły Finansów i Prawa w Bielsku-Białej

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2016

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issue 3

102-120

EN

The aim of this study is the presentation of a direct foreign investment scale in Visegrad Countries in 2011-2014 based on an analysis of the statistical data from the available domestic and foreign sources and the literature research. It is necessary to answer the question if the Visegrad countries use appropriate factors which stimulate the expansion and what barriers cause that those investments increase very slowly. The process of integration with the EU and the creation of an association that supports common business of Poland, the Czech Republic and Hungary were aimed at strengthening of the economic cooperation among them, including the investment development. Indeed, there has been a considerable increase in foreign investment, but the capital flow among the member countries was and still is relatively small. The Visegrad countries should take advantage of the geographical proximity, cultural similarities and common interests to accelerate the economic development through the mutual economic cooperation.

6

Determinants of outward FDI from emerging economies

80%

Cieślik A., Hien Tran G.

Equilibrium. Quarterly Journal of Economics and Economic Policy

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2019

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vol. 14

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issue 2

209-231

EN

Research background: The last four decades have witnessed an upsurge of multi-nationals from emerging markets alongside a narrowed gap in growth prospects between developed and emerging economies. UNCTAD statistics show that FDI flows from emerging economies have gone steady since 1980 and occupied more than one fifth of global FDI stock in 2015. Japan led the reverse FDI trend when it started to invest abroad in the 1960s and 1970s. Two decades later, in the 1980s-1990s, the reverse FDI trend was continued by so-called Asian tigers, then recently by those rapidly-industrializing economies in Southeast Asia as well as China and India in East and South Asia. Purpose of the article: The main goal of this paper is to contribute empirically to the study of the determinants of FDI outflows from emerging economies. Methods: In order to derive empirically testable hypotheses this paper refers to theoretical Knowledge-Capital model developed by Markusen (2002). The model is estimated using the Poisson-Pseudo Maximum Likelihood estimation technique. The specific research hypotheses derived from the theory are verified using a panel dataset of 38 home emerging countries and 134 host countries over the period 2001?2012. Findings & Value added: In this paper, we distinguish between horizontal and vertical reasons for FDI. Our estimation results support the hypothesis that main-stream theory of multinational enterprise can explain FDI flows from emerging economies, implying the significant roles of total market size, skilled-labor abundance, investment cost, trade cost as well as geographical distance between two countries.

7

The Role of Foreign Direct Investment in Economic Development of Developing Countries

80%

Salim Mohammed K. A.

Krakowskie Studia Małopolskie

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2023

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vol. 1(37)

92-114

EN

Derive the importance of foreign direct investment in the world, particularly in the developing countries. FDI is critical for the developing countries which need multinational funding and expertise to expand, give structure, and guide their will to boost manufacturing and service sectors. Due to its role in promoting the growth and development wheel, providing financial resources complementary to national savings, and contributing to the transfer of technology and skills associated with modern production methods, it has emerged as one of the most significant sources of support for development. As the deteriorating economic conditions of developing countries did not leave them with many options or other solutions, their only option was to open their economies. The research touches on multiple subjects such as: Statistical Decision Theory by using statistical data to prove some of the research points, Multidimensional Statistical Analysis, Financial Econometrics which includes the financial related remarks as GDP part of the research, etc. In this sense, the goals of this paper are to highlight the importance of FDI in achieving the development in developing countries.

8

The Impact of Foreign Direct Investment from Major Source Countries on Turkish Trade with the European Union

80%

Cetin R., Taban S.

South East European Journal of Economics and Business

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2009

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vol. 4

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issue 2

45-55

EN

The available literature on the relationship between foreign direct investment (FDI) and trade has so far shown mixed results. Although traditional trade theory showed that factor movements and trade are a perfect substitute, new trade and FDI theories argue that factor movements and trade can be either a substitute or complementary to each other, depending on the types of investment made by multinational enterprises (MNEs) and macroeconomic policies used by the host countries. This paper attempts to test empirically the existence of a long-run relationship between inward FDI and the trade performance of Turkey over the period 1976-2006 by applying the multivariate cointegration technique of Johansen and Juselius (1990). In particular, the effects of FDI from major source countries (i.e., the US, Japan, and the EU) are examined to see whether they have different impacts on Turkish trade with the EU. The results of the long-run export supply model indicate that both Japanese and EU FDI play a significant role in the level of Turkish exports to the EU market, while US FDI causes a reduction in the level of Turkish exports to the EU. Similarly, the results of the long-run import demand model show that EU FDI contributes the level of Turkish imports from the EU by raising demands for intermediate and capital goods from the home market, while Japanese FDI led to a decrease in the level of Turkish imports from the EU market.

9

OFFSHORING SECTOR IN POLAND

80%

Budzyńska K.

Oeconomia Copernicana

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2016

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vol. 7

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issue 4

635-651

EN

Companies across industries gain the competitive advantage by outsourcing and offshoring. Developing countries are becoming the attractive locations for the BPO/SSC enterprises. The article reviews the definition of outsourcing and offshoring and presents the findings for the fast-growing BPO/SSC area in Poland. The study is based on detailed analysis of the literature on outsourcing and offshoring. The article presents a preliminary analysis of offshoring sector in Poland. The following considerations are taken into account: the number of companies and employees in this sector, foreign direct investment. The growing number of companies and employments in this sector. Subsequent growth of the offshoring business service sector in Poland is visible.

10

Do tax incentives matter for investment? A literature review

80%

Munongo S., Akanbi O. A., Robinson Z.

Business and Economic Horizons

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2017

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vol. Volume 13

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issue Issue 2

152-168

EN

The effectiveness of tax incentives in attracting FDI remains one of the unsettled concepts in public finance. The importance of tax incentives in attraction of internationally mobile capital differs with the jurisdiction of the study and the methodology used in drawing conclusions. This study in reviewing both theoretical and empirical literature seeks to establish the merits and demerits of tax incentives. This is because though they receive a lot of criticism tax incentives continue to be used in most economies. Most of the empirical studies that this study explored concluded that though tax incentives might be important in attracting FDI they are more effective when combined with other non-tax factors. Macroeconomic conditions, infrastructure and strong institutions were found to be important non-tax factors that improve the attractiveness of an economy to FDI. The major weaknesses of using taxes in attracting FDI were discussed using the tax competition and tax harmonisation framework. Here it was noted that the use of tax incentives to attract FDI might improve the welfare of individuals in the jurisdiction that apply the incentives, but have external cost implications for residents in other competing jurisdictions that do not adopt tax incentives.

11

Determinanty lokalizacji bezpośrednich inwestycji zagranicznych

80%

Wawrzyniak D.

Gospodarka Narodowa. The Polish Journal of Economics

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2010

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vol. 239

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issue 4

89-111

EN

The paper reviews empirical studies on how various location factors influence foreign direct investment (FDI). The author focuses on some recent research and takes into account determinants such as market size, market growth, labor costs, labor quality, openness to trade, geographic distance, taxes, country risk, and corruption. These factors do not represent a closed set of factors that affect FDI location decisions, but are most frequently considered, Wawrzyniak says. Research theories list many factors that can influence the location of FDI. These include economic determinants (that depend on the type of FDI) as well as the policy framework for FDI and business facilitation. Moreover, these FDI determinants tend to change over time, Wawrzyniak says, and some of them, such as privatization of transition economies, are particularly important to some countries and regions. Empirical studies on the impact of various determinants on the location of FDI are inconclusive because different authors have reported different results. Some researchers say that a specific factor has a positive influence on FDI, while others argue the opposite. Still others believe that this particular factor is statistically insignificant. However, not all the potential determinants of FDI are equally controversial, Wawrzyniak says. The results of empirical research on different location factors show a varying level of consistency. They are generally more consistent in the case of factors such as market size and less consistent in the case of labor costs, for example.

12

EXPORTS VERSUS FDI IN SMITH-MOTTA FRAMEWORK

80%

Cieślik A.

Equilibrium. Quarterly Journal of Economics and Economic Policy

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2016

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vol. 11

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issue 2

189-218

EN

In this paper we study the choice between exporting and foreign direct investment (FDI) in the Smith-Motta duopoly framework. First, we identify the conditions necessary for exporting and FDI, depending on the costs of exporting and the cost of foreign investment. Then, we discuss various proximity-concentration tradeoffs. Finally, we demonstrate that six possible types of equilibriums may emerge depending on various combinations of the key parameters of the model. These equilibriums include: a monopoly FDI equilibrium, a monopoly exporting equilibrium, a domestic monopoly equilibrium, a duopoly FDI equilibrium, a duopoly exporting equilibrium, and no entry equilibrium

13

Foreign Direct Investment Impact on Economic Indicators of the Baltic Countries

80%

Barkauskaite A., Naraskeviciute V.

Economics and Business

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2016

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vol. 28

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issue 1

61-67

EN

The foreign direct investment movement is becoming increasingly important nowadays. Various studies are conducted to determine the influence of foreign direct investments on certain countries. That is why it is important and useful to evaluate and compare how foreign direct investments affect the economic indicators of the Baltic countries - countries having similar economies. Methods used in the analysis are: logical comparative and generalization methods, systematic literature analysis and methods of mathematical statistics. The results have showed that foreign direct investments have positive influence on economies through gross domestic product and labour productivity growth in all Baltic countries, though foreign direct investments do not influence the unemployment rate in all Baltic countries

14

Location Factors of Foreign Direct Investment: A Regional Perspective

80%

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.

15

The Importance of Macroeconomic Analysis of Regions in the Slovak Republic in the Context of Regional Development

80%

Hiadlovský V., Gundová P.

Barometr Regionalny. Analizy i prognozy

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2013

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issue 3(33)

69-74

EN

In today’s rapidly changing world the representatives of the Slovak Republic's regions need exact macroeconomics analyses. We can even say that their importance is increasing. Why are there strong fluctuations in economic development? Why there are significant differences between regions of the Slovak Republic and what is the cause? If we want to know the answers, we must examine economic development of regions on more regular basis and in more detail. The importance of autonomous macroeconomic analysis of Slovak regions is that it is the source for identifying strengths and weaknesses of these regions. The aim of this article is to show the importance of macroeconomic analysis of Slovak regions in the context of regional development. The introduction of the article presents the theoretical apparatus of macroeconomic analysis. In the second part of the paper we present results of macroeconomic analysis of eight regions of the Slovak Republic; we focus on the level of regional GDP, foreign direct investment and the economic activity rate of the population.

PL

Autorzy artykułu zwracają uwagę na konieczność analizy makroekonomicznej poszczególnych obszarów Słowacji w kontekście rozwoju regionalnego. Stawiają pytania o to „dlaczego występują tak silne wahania koniunktury gospodarczej na poziomie regionów” oraz dlaczego występują i co powoduje tak duże różnice w rozwoju słowackich regionów?” Odpowiedzi na te pytania należy szukać w systematycznych i szczegółowych badaniach ekonomicznych regionów samorządowych. W artykule przedstawiono koncepcję takich badań oraz przeprowadzono makroekonomiczną analizę ośmiu słowackich regionów koncentrując się na regionalnym PKB, bezpośrednich inwestycjach zagranicznych i aktywności ekonomicznej ludności.

16

Napływ bezpośrednich inwestycji zagranicznych do Polski w latach 2005–2016 a konkurencyjność polskiej gospodarki

80%

Wiśniewski T. P.

Studia BAS

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2018

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issue 3(55)

29-54

EN

The aim of this paper is to explore interdependence between foreign direct investment (FDI) inflows and competitiveness of national economy. The relationship between these two macroeconomic variables is analysed for Poland for the period between 2005 and 2016. The author discusses the structure, dynamics and drivers behind the competitiveness of Polish economy based on the methodology of the World Economic Forum. The conclusions are drawn from an investigation of over 270 rank correlations. Several statistically significant relationships were identified for the variables, suggesting that certain causal links in both directions between FDI inflows and competitiveness existed. The concluding remarks consist of several recommendations for the policymakers.

17

Ewaluacja modeli wzrostu gospodarek światowych – reset ekonomii

80%

Kowalska-Napora E.

Polonia Journal

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2020

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issue 11

189-210

EN

Market economies do not develop harmoniously. They are dealing with Fluctuations. In some periods markets are developing quickly, in some slowly, and In others they fall into recession. In this article, it was the subject of perception of KTN-BIZ by knowing its essence, features and importance in the information society, Resulting from social and economic changes. The purpose of this article is to point out the theoretical foundations of economic, environmental and social sustainability. Thanks to the knowledge and economic analysis it is possible to strike a balance Between these three issues.

18

Determinants of Foreign Direct Investment Performance – a Critical Literature Review

80%

Trąpczyński P.

Oeconomia Copernicana

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2013

|

issue 2

117-132

EN

Foreign direct investment (FDI), its motives, modes and location choice constitute key subjects in theory and research in international business, due to their long-term consequences for firm competitiveness. The determinants of results achieved in foreign markets can therefore be described as a fundamental research area, which specifically includes studies on FDI performance. In spite of its long tradition and methodical advancement, extant research show numerous inconsist-encies and ambiguous findings. In both international and Polish literature, no complex summary of extant knowledge on FDI performance determinants can be found, which would allow for the consolidation and evaluation of earlier findings. The aim of this paper is to present the findings of a structured review of 95 studies on performance of foreign subsidiaries. Within extant studies, four main research streams were identified, focusing on FDI mode choice, resource determinants on a firm and subsidiary level, host-country characteristics and corporate strategy. Previous research has not adequately considered the role of expansion motives for evaluating FDI performance. Future studies should also to a greater extent account for a differentiated role of firm resources, particularly various types of international experience, as applied in host countries at different levels of economic and institutional development. Moreover, a more holistic FDI performance analysis requires a simultaneous consideration of financial and non-financial dimensions of a foreign subsidiary's competitive position. Based on the outcomes of the present review, areas for further studies have been proposed, especially as regards the context of outward FDI, increasingly undertaken by Polish companies, and its specific character.

19

Bezpośrednie inwestycje zagraniczne w polskiej gospodarce

80%

Gutowski T.

Współczesna Gospodarka

|

2013

|

vol. 4

|

issue 2

1-9

EN

Foreign Direct Investment (FDI) plays an extraordinary and increasingly important role in global and local business. This type of investment gives the country a better position to prepare for rapidly changing economic conditions. Considering the external effects of FDI, it should be assumed that the most important one is coinvolvement in the development of a country in which they are located. In the Polish economy the value of foreign direct investment is very high and it is one of the most important causes of the economic growth.

20

The impact of foreign direct investment and venture capital investment on entrepreneurship in the Republic of Serbia

80%

Jolović I., Lošonc A.

Eastern Review

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2019

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vol. 8

67-86

EN

The subject of the research is the examination of features and significance of two modern types of investment intended for financing entrepreneurship: that is, foreign direct investment and venture capital investment. The starting point of the study is the sector of small and medium-sized enterprises and entrepreneurs with all the challenges and opportunities that characterize its financial position in the Republic of Serbia. The aim of this research is to analyse the impact of both direct investment and entrepreneurial capital investment on small businesses, or more precisely, to examine the influence of foreign direct investment and venture capital investment on entrepreneurship. This paper focuses on the impact that these types of financing have on management, financial stability, and the performance of the relevant business entities. Furthermore, the current situation and perspectives of these types of financing are analysed in detail. The aim of this paper is to provide insight into the effects that foreign direct and venture capital investments have on Serbian small and medium-sized enterprises and the entrepreneurial sector, as well as to point to what is currently the more favourable solution for the financing problem with which these entities are faced. The following methods are used for the preparation of this paper: a detailed analysis of the content of European and national statistical reports; available national and foreign literature of international and domestic authors in the field of foreign direct investment, venture capital investment and entrepreneurship; descriptive and comparative methods.

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