Skip to main content

2017 | OriginalPaper | Buchkapitel

4. Foreign Direct Investment in Slovakia: The Tatra Tiger Gone Tame?

verfasst von : Martin Grančay, Nóra Grančay

Erschienen in: Foreign Direct Investment in Central and Eastern Europe

Verlag: Springer International Publishing

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

search-config
loading …

Abstract

The aim of the chapter is to analyse the historical development and recent trends in FDI inflows to Slovakia. The paper identifies structural changes in FDI inflows to Slovakia that were triggered by the world economic crisis and discusses how these changes have affected the performance and competitiveness of the economy. It shows that foreign investors have re-focused their attention to sectors and industries with higher added value and higher capital intensity of production. The paper concludes with recommendations for Slovak policy-makers on how to adjust the investment environment to the new conditions and trends in the world economy.

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!

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!

Fußnoten
1
There are 21 economic sectors and 89 divisions in the NACE classification. For example, economic sector “C, manufacturing” can be further divided into divisions: “C10, manufacture of food products,” “C11, manufacture of beverages,” “C12, manufacture of tobacco products,” “C13, manufacture of textiles” and so on.
 
2
Admittedly, this could also mean that there has been a shortage of supply or that the price of cars has been rising due to other reasons. However, this has not been the case in Slovakia.
 
3
Cumulative inflation measured by the Consumer Price Index reached 66% from 2000 to 2013 (OECD 2015). The Producer Price Index shows even larger differences, but unfortunately data are only available since 2003. Between 2003 and 2013, cumulative PPI was a mere 0.7%, compared to a 43.3% increase in prices of exports (OECD 2015).
 
Literatur
Zurück zum Zitat Aitken, B., Hanson, G., & Harrison, A. (1997). Spillovers, foreign investment, and export behavior. Journal of International Economics, 43(1–2), 103–132.CrossRef Aitken, B., Hanson, G., & Harrison, A. (1997). Spillovers, foreign investment, and export behavior. Journal of International Economics, 43(1–2), 103–132.CrossRef
Zurück zum Zitat Brandt, L., & Thun, E. (2010). The fight for the middle: Upgrading, competition and industrial development in China. World Development, 38(11), 1555–1574.CrossRef Brandt, L., & Thun, E. (2010). The fight for the middle: Upgrading, competition and industrial development in China. World Development, 38(11), 1555–1574.CrossRef
Zurück zum Zitat Brook, A.-M., & Leibfritz, W. (2005). Slovakia’s introduction of a flat tax as a part of wider economic reforms (OECD Economics Department working paper No. 448). Paris: OECD. Brook, A.-M., & Leibfritz, W. (2005). Slovakia’s introduction of a flat tax as a part of wider economic reforms (OECD Economics Department working paper No. 448). Paris: OECD.
Zurück zum Zitat Chaudhry, N. I., Mehmood, A., & Mehmood, M. S. (2013). Empirical relationship between foreign direct investment and economic growth: An ARDL co-integration approach for China. China Finance Review International, 3(1), 26–41.CrossRef Chaudhry, N. I., Mehmood, A., & Mehmood, M. S. (2013). Empirical relationship between foreign direct investment and economic growth: An ARDL co-integration approach for China. China Finance Review International, 3(1), 26–41.CrossRef
Zurück zum Zitat Dailey, W. O., Hinck, E. A., & Hinck, S. S. (2008). Politeness in presidential debates. Plymouth: Rowman & Littlefield. Dailey, W. O., Hinck, E. A., & Hinck, S. S. (2008). Politeness in presidential debates. Plymouth: Rowman & Littlefield.
Zurück zum Zitat Dudáš, T. (2010a). Priame zahraničné investície v Slovenskej ekonomike (Foreign direct investment in the Slovak economy). Bratislava: Vydavateľstvo Ekonóm. Dudáš, T. (2010a). Priame zahraničné investície v Slovenskej ekonomike (Foreign direct investment in the Slovak economy). Bratislava: Vydavateľstvo Ekonóm.
Zurück zum Zitat Dudáš, T. (2010b). Najnovšie trendy v príleve priamych zahraničných investícií na Slovensko (The newest trends in FDI flows in Slovakia). Journal of International Relations, 8(2), 81–90. Dudáš, T. (2010b). Najnovšie trendy v príleve priamych zahraničných investícií na Slovensko (The newest trends in FDI flows in Slovakia). Journal of International Relations, 8(2), 81–90.
Zurück zum Zitat Eurostat. (2014). Gross value added statistics. Brussels: Eurostat. Eurostat. (2014). Gross value added statistics. Brussels: Eurostat.
Zurück zum Zitat Finger, J. M., & Kreinin, M. E. (1979). A measure of ‘export similarity’ and its possible uses. The Economic Journal, 89(356), 905–912.CrossRef Finger, J. M., & Kreinin, M. E. (1979). A measure of ‘export similarity’ and its possible uses. The Economic Journal, 89(356), 905–912.CrossRef
Zurück zum Zitat Firebaugh, G., & Bullock, B. P. (1987). Export upgrading, export concentration, and economic growth in less developed countries: A cross-national study. Studies in Comparative International Development, 22(2), 87–109.CrossRef Firebaugh, G., & Bullock, B. P. (1987). Export upgrading, export concentration, and economic growth in less developed countries: A cross-national study. Studies in Comparative International Development, 22(2), 87–109.CrossRef
Zurück zum Zitat Fisher, S., Gould, J., & Haughton, T. (2007). Slovakia’s neoliberal turn. Europe-Asia Studies, 59(6), 977–998.CrossRef Fisher, S., Gould, J., & Haughton, T. (2007). Slovakia’s neoliberal turn. Europe-Asia Studies, 59(6), 977–998.CrossRef
Zurück zum Zitat Government of the Slovak Republic. (2009). Správa o stave a úspešnosti získavania priamych zahraničných investícií (Report on the current situation of attracting FDI). Ministry of Economy UV-38508/2009. http://hsr.rokovania.sk/15009/25-/. Accessed 3 Sept 2014. Government of the Slovak Republic. (2009). Správa o stave a úspešnosti získavania priamych zahraničných investícií (Report on the current situation of attracting FDI). Ministry of Economy UV-38508/2009. http://​hsr.​rokovania.​sk/​15009/​25-/​. Accessed 3 Sept 2014.
Zurück zum Zitat Hallak, J. C., & Schott, P. K. (2011). Estimating cross-country differences in product quality. Quarterly Journal of Economics, 126(1), 417–474.CrossRef Hallak, J. C., & Schott, P. K. (2011). Estimating cross-country differences in product quality. Quarterly Journal of Economics, 126(1), 417–474.CrossRef
Zurück zum Zitat Harding, T., & Javorcik, B. S. (2012). Foreign direct investment and export upgrading. The Review of Economics and Statistics, 94(4), 964–980.CrossRef Harding, T., & Javorcik, B. S. (2012). Foreign direct investment and export upgrading. The Review of Economics and Statistics, 94(4), 964–980.CrossRef
Zurück zum Zitat Hausmann, R., Hwang, J., & Rodrik, D. (2007). What you export matters. Journal of Economic Growth, 12(1), 1–25.CrossRef Hausmann, R., Hwang, J., & Rodrik, D. (2007). What you export matters. Journal of Economic Growth, 12(1), 1–25.CrossRef
Zurück zum Zitat Helpman, E. (2011). Understanding global trade. Cambridge: The Belknap Press of Harvard University Press.CrossRef Helpman, E. (2011). Understanding global trade. Cambridge: The Belknap Press of Harvard University Press.CrossRef
Zurück zum Zitat Herzer, D. (2012). Outward FDI, total factor productivity and domestic output: Evidence from Germany. International Economic Journal, 26(1), 155–174.CrossRef Herzer, D. (2012). Outward FDI, total factor productivity and domestic output: Evidence from Germany. International Economic Journal, 26(1), 155–174.CrossRef
Zurück zum Zitat Ilias, S., Fergusson, I. F., Morrison, W. M., & Villareal, M. A. (2011). Boosting U.S. exports: Selected issues for congress. Washington, DC: Congressional Research Service. Ilias, S., Fergusson, I. F., Morrison, W. M., & Villareal, M. A. (2011). Boosting U.S. exports: Selected issues for congress. Washington, DC: Congressional Research Service.
Zurück zum Zitat Javorcik, B. S. (2004). Does foreign direct investment increase the productivity of domestic firms? In search of spillovers through backward linkages. American Economic Review, 94(3), 605–627.CrossRef Javorcik, B. S. (2004). Does foreign direct investment increase the productivity of domestic firms? In search of spillovers through backward linkages. American Economic Review, 94(3), 605–627.CrossRef
Zurück zum Zitat Mora, J., & Singh, N. (2013). Trade productivity upgrading, trade fragmentation, and FDI in manufacturing: The Asian development experience. Indian Growth and Development Review, 6(1), 61–87.CrossRef Mora, J., & Singh, N. (2013). Trade productivity upgrading, trade fragmentation, and FDI in manufacturing: The Asian development experience. Indian Growth and Development Review, 6(1), 61–87.CrossRef
Zurück zum Zitat National Bank of Slovakia. (2014). Foreign direct investment statistics. Bratislava: NBS (internal document). National Bank of Slovakia. (2014). Foreign direct investment statistics. Bratislava: NBS (internal document).
Zurück zum Zitat OECD. (2015). Key short-term economic indicators. Paris: OECD. OECD. (2015). Key short-term economic indicators. Paris: OECD.
Zurück zum Zitat Pham, T. H. H. (2012). Temporal causality and the dynamics of foreign direct investment and trade in Vietnam. Journal of International Trade and Economic Development, 21(1), 83–113.CrossRef Pham, T. H. H. (2012). Temporal causality and the dynamics of foreign direct investment and trade in Vietnam. Journal of International Trade and Economic Development, 21(1), 83–113.CrossRef
Zurück zum Zitat Pogátsa, Z. (2009). Tatra Tiger growth miracle or belated recovery? Acta Oeconomica, 59(4), 377–390.CrossRef Pogátsa, Z. (2009). Tatra Tiger growth miracle or belated recovery? Acta Oeconomica, 59(4), 377–390.CrossRef
Zurück zum Zitat Rugraff, E. (2008). Are the FDI policies of the Central European countries efficient? Post-Communist Economies, 20(3), 303–316.CrossRef Rugraff, E. (2008). Are the FDI policies of the Central European countries efficient? Post-Communist Economies, 20(3), 303–316.CrossRef
Zurück zum Zitat Schettkat, R., & Yocarini, L. (2009). The relative weight of manufacturing and services in Europe: An innovation perspective. Technological Forecasting and Social Change, 76(6), 709–722.CrossRef Schettkat, R., & Yocarini, L. (2009). The relative weight of manufacturing and services in Europe: An innovation perspective. Technological Forecasting and Social Change, 76(6), 709–722.CrossRef
Zurück zum Zitat Schott, P. (2008). The relative sophistication of Chinese exports. Economic Policy, 23(1), 5–49. Schott, P. (2008). The relative sophistication of Chinese exports. Economic Policy, 23(1), 5–49.
Zurück zum Zitat Stijns, J. C. (2005). Natural resource abundance and economic growth revisited. Resources Policy, 30(2), 107–130.CrossRef Stijns, J. C. (2005). Natural resource abundance and economic growth revisited. Resources Policy, 30(2), 107–130.CrossRef
Zurück zum Zitat Szent-Iványi, B., & Vigvári, G. (2012). Spillovers from foreign direct investment in Central and Eastern Europe. An index for measuring a country’s potential to benefit from technology spillovers. Society and Economy in Central and Eastern Europe, 34(1), 51–72. Szent-Iványi, B., & Vigvári, G. (2012). Spillovers from foreign direct investment in Central and Eastern Europe. An index for measuring a country’s potential to benefit from technology spillovers. Society and Economy in Central and Eastern Europe, 34(1), 51–72.
Zurück zum Zitat UN. (2014). The united nations commodity trade statistics database. Geneva: United Nations. UN. (2014). The united nations commodity trade statistics database. Geneva: United Nations.
Zurück zum Zitat Velde, D. W. (2001). Policies towards foreign direct investment in developing countries: Emerging best-practices and outstanding issues. London: Overseas Development Institute. Velde, D. W. (2001). Policies towards foreign direct investment in developing countries: Emerging best-practices and outstanding issues. London: Overseas Development Institute.
Zurück zum Zitat Wang, Z., & Wei, S. J. (2010). What accounts for the rising sophistication of China’s exports? In R. Feenstra & S. J. Wei (Eds.), China’s growing role in world trade. Chicago: University of Chicago Press. Wang, Z., & Wei, S. J. (2010). What accounts for the rising sophistication of China’s exports? In R. Feenstra & S. J. Wei (Eds.), China’s growing role in world trade. Chicago: University of Chicago Press.
Zurück zum Zitat World Bank. (2015). Doing business: Measuring business regulations. Washington, DC: World Bank. World Bank. (2015). Doing business: Measuring business regulations. Washington, DC: World Bank.
Zurück zum Zitat World Economic Forum. (2015). The global competitiveness report 2014–2015. Geneva: World Economic Forum. World Economic Forum. (2015). The global competitiveness report 2014–2015. Geneva: World Economic Forum.
Zurück zum Zitat Xu, B. (2010). The sophistication of exports: Is China special? China Economic Review, 21(3), 482–493.CrossRef Xu, B. (2010). The sophistication of exports: Is China special? China Economic Review, 21(3), 482–493.CrossRef
Zurück zum Zitat Zhu, S., & Fu, X. (2013). Drivers of export upgrading. World Development, 51(C), 221–233.CrossRef Zhu, S., & Fu, X. (2013). Drivers of export upgrading. World Development, 51(C), 221–233.CrossRef
Metadaten
Titel
Foreign Direct Investment in Slovakia: The Tatra Tiger Gone Tame?
verfasst von
Martin Grančay
Nóra Grančay
Copyright-Jahr
2017
DOI
https://doi.org/10.1007/978-3-319-40496-7_4