engleski

FDI spillovers and firm productivity during crisis: Empirical evidence from transition economies

Most studies of foreign direct investment (FDI) are nested within the periods of economic prosperity. Our study investigates the impact of FDI spillovers on productivity during the period of global financial crisis (2006-2014) and the accompanying credit shortage. Dynamic panel analysis of the firm-level data from two neighbouring but distinctive transition economies Croatia and Slovenia reveals that the impact of crisis may go as far as halting the process of learning through spillovers if firms have difficulties in accessing external funds. The implications of paper may prove particularly beneficial to policy makers grappling with economic crisis following the Covid-19 pandemic.

FDI ; knowledge spillovers ; productivity ; transition economies ; economic crisis

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