engleski

Determinants of FDI in Central and South Eastern Europe - Panel Data Analysis

The aim of the paper is to find out the relevance of determinants in attracting FDI in the Countries of Central and South Eastern Europe (CSEE). The relative importance of three types of variables (macroeconomic, monetary and financial, and institutional) is investigated using panel data analyses which includes 11 countries (Poland, Czech Republic, Albania, Romania, Slovakia, Slovenia, Croatia, Macedonia, Hungary, Bosnia and Herzegovina and Bulgaria) during twenty years (1990-2009). In the panel model of macroeconomic variables, the variables of gross fixed capital formation as well as trade liberalization have turned out to be statistically significant. In the panel of monetary financial variables, the statistical significance of total reserves as well as REER index has been established. The panel that included institutional variables was not found to be statistically significant.

foreign direct investments ; FDI ; CSEE ; panel data

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