nach oben

Erschienen in:

2016 | OriginalPaper | Buchkapitel

Attracting FDI to the New EU Member States

verfasst von : Tomasz Dorożyński, Anetta Kuna-Marszałek

Erschienen in: Competitiveness of CEE Economies and Businesses

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

In the present chapter we have made an attempt to identify factors determining the investment attractiveness of the new EU Member States, which may have an impact upon the scale of foreign direct investment (FDI) in these countries. This chapter is structured as follows. First, it explores the existing literature on FDI definition and main effects of its inflow into the host country. Subsequently, we discuss the investment attractiveness and its determinants in theory and based on empirical studies. Further, we review investment attractiveness assessment of the new EU Member States based on selected international rankings. The final part examines relationships between selected determinants of investment attractiveness and FDI inflows to new EU Member States. The presented study is particularly focused on the correlation between selected variables pertaining to investment incentives and the inflow of FDI. The study is based on appropriate statistical methods, such as Spearman’s rank correlation and Pearson correlation. Finally, we present the key conclusions of the chapter.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Facilitating Outward Foreign Direct Investment (OFDI): The Perspective of Support Providers in Poland in the Aftermath of 2008+ Economic Crisis

Nächstes Kapitel Policies to Promote Eco-innovation: Results for Selected CEE Countries and Germany

The benchmark definition was first published in 1983 based on a report by the OECD Group of Financial Statisticians, subsequent revisions were published in 1990, 1992, and 2008.

The OLI (Ownership, Location, Internalisation) theory explains that the FDI decision is a result of meeting three conditions: 1) a firm enjoys ownership advantages (oligopolistic advantages); 2) there are favourable location factors (host country advantages); 3) the advantage of internalisation over market transactions (exports, selling licenses). Advantages are not only necessary and decisive for internationalisation but they are complementary and reinforce one another.

The notion of competitiveness, as intended by the World Economic Forum, combines the 12 pillars of competitiveness with three stages of economic development of a given country: factor-driven economy, efficiency-driven economy, and innovation-driven economy. The main advantage of the ranking is its comprehensive approach to competitiveness. The method used in it focuses not only on the assessment of microeconomic environment, but also covers elements of business strategy and the business environment in combination with the evaluation of links with the global economy.

One of the most important and most commonly used synthetic indices which measure international competitive ability of countries. International Institute for Management Development classifies competitiveness factors by dividing them into: economic performance, government efficiency, business efficiency, infrastructure. In identifying the competitiveness of individual countries it uses national statistics, data from international and regional organisations and opinions of thousands of managers and several dozen partner institutes across the world.

Cyprus and Malta were not included in the ranking.

By the same token the authors of the portal are trying to tell how high rate of return can be achieved and how much profit there can be brought “home” by investors who invest their capital abroad.

The FDI Confidence Index is a regular survey of global executives conducted by A.T. Kearney.

Agiomirgianakis, G., Asteriou, D., & Papathoma, K. (2006). The determinants of foreign direct investment: A panel data study for the OECD countries. Department of Economics Discussion Paper Series, 03(06), 1–19.

Agosin, M., & Machado, R. (2007). Openness and the international allocation of foreign direct investment. Journal of Development Studies, 43(7), 1234–1247.CrossRef

Anyanwu, J. C. (2012). Why does foreign direct investment go where it goes? New evidence from African countries. Annals of Economics and Finance, 13(2), 425–462.

Arbatli, E. (2011). Economic policies and FDI inflows to emerging market economies. IMF Working Paper. Middle East and Central Asia Department 11/192.

Asongu, S. A., & Kodila-Tedika, O. (2015). Conditional determinants of FDI in fast emerging economies: An instrumental quantile regression approach. African Governance and Development Institute Working Paper (15/003), pp. 1–24.

Bank for International Settlements (BIS). (2015).

Bartels, F. L., Napolitano, F., & Tissi, N. E. (2014). FDI in sub-Saharan Africa: A longitudinal perspective on location-specific factors (2003–2010). International Business Review, 23(3), 516–529.CrossRef

Bartik, T. J. (1991). Who benefits from state and local economic development policies? W.E. Upjohn Institute for Employment Research, Kalamazoo, MI.

Bellak, C., Leibrecht, M., & Riedl, A. (2008). Labour costs and FDI inflows into Central and Eastern European countries: A survey of the literature and empirical evidence. Structural Change and Economic Dynamics, 19(1), 17–37.CrossRef

Buckley, P. J., Clegg, J., & Wang, C. (2010). Is the relationship between inward FDI spillover effects linear? An empirical examination of the case of China. In P. J. Buckley (Ed.), Foreign direct investment, China and the world economy (pp. 192–215). London: Palgrave Macmillan.CrossRef

Castro, C., & Nunes, P. (2013). Does corruption inhibit foreign direct investment? Política/Revista de Ciencia Política, 51(1), 61–83.

Cedidlová, M. (2013). The effectiveness of investment incentives in certain foreign companies operating in the Czech Republic. Journal of Competitiveness, 5(1), 108–120.CrossRef

Contessi, S., & Weinberger, A. (2009). Foreign direct investment, productivity, and country growth: An overview. Federal Reserve Bank of St. Louis Review, 91(2), 61–78.

Cywiński, Ł. (2015, January 14). EU cohesion policy incentives and knowledge intensive FDI inflows. WSIiZ Working Paper Series WP, pp. 1–11.

Davis, C. (2013, August 12). Tax incentives: Costly for states. Drag on the Nation Institute of Taxation and Economic Policy.

Doing Business 2016. (2015). Measuring regulatory quality and efficiency. A World Bank Group Report.

Dorożyński, T. (2015). Fundusze unijne a napływ bezpośrednich inwestycji zagranicznych do Polski. In E. Małuszyńska, G. Mazur, & P. Idczak (Eds.), Unia Europejska wobec wyzwań przyszłości. Aspekty społeczne, gospodarcze i środowiskowe (pp. 163–177). Poznań: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu.

Dorożyński, T., & Kuna-Marszałek, A. (2014). Investment attractiveness of Visegrad Group countries: Comparative analysis. In A. Zhuplev & K. Liuhto (Eds.), Geo-regional competitiveness in Central and Eastern Europe, the Baltic Countries, and Russia (pp. 239–288). Hershey, PA: IGI Global.

Dorożyński, T., & Kuna-Marszałek, A. (2016a). Investment attractiveness: The case of the Visegrad Group countries. Comparative Economic Research in Central and Eastern Europe 1 (in press).

Dorożyński, T., & Kuna-Marszałek, A. (2016b). The role of incentives in attracting FDI to the new EU Member States. Journal of Management and Financial Sciences, 23.

Dorożyński, T., Świerkocki, J., & Urbaniak, W. (2014). Attracting FDI to the region of Lodz by its local government. Comparative Economic Research in Central and Eastern Europe, 17(2), 101–118.

Dorożyński, T., Świerkocki, J., & Urbaniak, W. (2015). Incentives for attracting FDI: The case of the Lodz Region. Gospodarka Narodowa, 1, 147–168.

Dunning, J. H. (1979). Explaining changing patterns of international production: In defence of the eclectic theory. Oxford Bulletin of Economics and Statistics, 41(4), 269–295.CrossRef

Dunning, J. H. (1981). International production and the multinational enterprise. London: George Allen and Unwin.

Dunning, J. H. (2000). The eclectic paradigm as an envelope for economic and business theories of MNE activity. International Business Review, 9(2), 163–190.CrossRef

Dunning, J. H. (2003). The role of foreign direct investment in upgrading China’s competitiveness. Journal of International Business and Economy, 4(1), 1–13.

Dunning, J. H. (2004). Determinants of foreign direct investment: Globalization-induced changes and the role of policies. In B. Tungodden, N. Stern, & I. Kolstad (Eds.), Toward pro-poor policies. Aid, institutions and globalization. Washington, DC: World Bank.

Dunning, J. H. (2006). Towards a new paradigm of development: Implications for the determinants of international business. Transnational Corporation, 15(1), 173–227.

Economist Intelligence Unit. (2015). Business environment ranking and index 2014.

Éltető, A. (2010). Foreign direct investment in Central and East European Countries and Spain – A short overview. ICEI WP 09/10, pp. 4–17.

Ernst&Young. (2009). Reinventing European growth. European Attractiveness Survey 2009.

Ernst&Young attractiveness survey. (2015). Europe 2015.

EY’s attractiveness survey. (2014). Europe 2014.

Feld, L. P., & Heckemeyer, J. H. (2008). FDI and taxation. A meta-study. ZEW Discussion Paper 08–128, pp. 1–63.

Globerman, S., Shapiro, D., & Tang, Y. (2006). Foreign direct investment in emerging and transition European countries. In J. A. Batten & C. Kearney (Eds.), Emerging European financial markets: Independence and integration post-enlargement (pp. 431–459). Bingley: Emerald Group Publishing Limited.CrossRef

Godlewska-Majkowska, H. (2011). Wprowadzenie. In H. Godlewska-Majkowska (Ed.), Atrakcyjność inwestycyjna regionów jako uwarunkowanie przedsiębiorczych przewag konkurencyjnych. Wybrane fragmenty (pp. 4–6). Warszawa: SGH.

Guagliano, C., & Riela, S. (2005). Do special economic areas matter in attracting FDI? Evidence from Poland, Hungary and Czech Republic. Working Paper ISLA 21.

Hanousek, J., Kočenda, E., & Maurel, M. (2011). Direct and indirect effects of FDI in emerging European markets: A survey and meta-analysis. Economic Systems, 35(3), 301–322.CrossRef

http://imf.org

Iamsiraroj, S., & Doucouliagos, H. (2015). Does growth attract FDI? Kiel Institute for the World Economy. Economics Discussion Papers, 18, 1–41.

IMD Global Competitiveness Index. (2015).

Investment incentives: The good, the bad and the ugly. (2013). Background Paper for the Eight Columbia International Investment Conference, Vale Columbia Center on Sustainable International Investment, Columbia University.

James, S. (2009). Incentives and investments: Evidence and policy implications. WB Group. Washington, DC: Investment Climate Department.

James, S. (2010). Providing incentives for investment advice for policymakers in developing countries. Investment Climate in Practice, 7, 1–8.

James, S. (2013, September). Tax and non-tax incentives and investments: Evidence and policy implications. World Bank Investment Climate Advisory Services.

Johnson, L., & Toledano, P. (2013, November 13–14). The good, the bad and the ugly. Assessing the costs, benefits and options for policy reform. Background Paper for the Eighth Columbia International Investment Conference on Investment Incentives Columbia University.

Kamaly, A. (2014). Does FDI crowd in or out domestic investment? New evidence from emerging economies. Modern Economy, 4(5), 391–400.CrossRef

Kearney, A. T. (2015). FDI Confidence Index.

Koojaroenprasit, S. (2012). The impact of foreign direct investment on economic growth: A case study of South Korea. International Journal of Business and Social Science, 3(21), 8–19.

Lin, F. (2011). Labour quality and inward FDI: A firm-level empirical study in China. The University of Adelaide School of Economics, Research Paper March, 2011–2012, pp. 1–29.

Morisset, J., & Pirnia, N. (2000, December). How tax policy and incentives affect foreign direct investment: A review. WB Policy Research Working Paper 2509.

Mottaleb, K. (2007). Determinants of foreign direct investment and its impact on economic growth in developing countries. MPRA Paper 9457, pp. 1–15.

Nunnenkamp, P. (2002). Determinants of FDI in developing countries: Has globalization changed the rules of the game? Kiel Institute for the World Economy, Kiel Working Paper 1122.

OECD. (2002). Foreign direct investment for development maximising benefits, minimising costs (pp. 1–32). France: OECD.

OECD. (2003). Checklist for foreign direct investment incentive policies.

OECD. (2008). Benchmark definition of foreign direct investment.

Owczarczuk, M. (2013). Government incentives and FDI inflow Into R&D – The case of Visegrad countries. Entrepreneurial Business and Economics Review, 1(2), 73–86.CrossRef

Perera, O. (2012). Rethinking investment incentives. IISD commentary International Institute for Sustainable Development.

Rădulescu, M., & Druică, E. N. (2011). FDIs and investment policy in some European countries after their EU accession. Challenges during the crisis. http://www.revecon.ro/articles/2011-2/2011-2-10.pdf

Rehman, C. A., Ilyas, M., Alam, H. M., & Akram, M. (2011). The impact of infrastructure on foreign direct investment: The case of Pakistan. International Journal of Business and Management, 6(5), 268–276.CrossRef

Rymarczyk, J., Błaszczyk, M., Michalski, B., Niemiec, M., Niemiec, W., & Wróblewski, M. (2008). Klimat inwestycyjny Dolnego Śląska w ocenie bezpośrednich inwestorów zagranicznych. Wrocław: oficyna wydawnicza arboretum.

Shukla, L. (2013). Foreign direct investment and developing countries: Its impact and significance. Journal of Business and Management and Social Science Research, 2(5), 75–81.

Sobczak, M. (2000). Statystyka. Podstawy teoretyczne przykłady – zadania. Lublin: Wyd UMCS.

Sumner, A. (2005). Is foreign direct investment good for the poor? A review and stocktake. Development in Practice, 15(3/4), 269–285.CrossRef

The Global Competitiveness Report 2014–2015. (2015).

Thomas, P. K. (2007). Investment incentives: Growing use, uncertain benefits, uneven controls. Geneva: Global Subsidies Initiative.

Tuomi, K. (2012, June). Review of investment incentives: Best practice in attracting investment. IGC Working Paper, pp. 1–24.

Wacker, K. M. (2011). The impact of foreign direct investment on developing countries’ terms of trade. Working Paper 2011/06. World Institute for Development Economics Research.

Wawrzyniak, D. (2010). Determinanty lokalizacji bezpośrednich inwestycji zagranicznych. Gosp Nar, 4, 89–111.

World Investment Report 2010. (2010).

World Investment Report 2011. (2011).

World Investment Report 2012. (2012).

World Investment Report 2013. (2013).

World Investment Report 2014. (2014).

Zhang, Y., Li, H., Li, Y., & Zhou, L.-A. (2010). FDI spillovers in an emerging market: The role of foreign firms’ country origin diversity and domestic firms’ absorptive capacity. Strategic Management Journal, 31, 969–989. doi:10.1002/smj.856.

Titel: Attracting FDI to the New EU Member States
verfasst von: Tomasz Dorożyński
Anetta Kuna-Marszałek
Verlag: Springer International Publishing
Buch: Competitiveness of CEE Economies and Businesses
Print ISBN: 978-3-319-39653-8

Electronic ISBN: 978-3-319-39654-5

Copyright-Jahr: 2016
DOI: https://doi.org/10.1007/978-3-319-39654-5_4