engleski

Capital mobility in the EU new member states

This research is focused on the analysis of capital mobility indicators in the new EU member states as capital market union is one of the newest initiative in the EU. The most integrated countries are Hungary, the Czech R., Croatia and Estonia. Econometric analysis emphasized that the level of development, intra-EU trade, FDI inward stock, and FDI intensity have a positive impact on capital openness (mobility), while inflation has a negative influence. Unexpectedly, fiscal variables and interest rates do not have a significant impact on capital openness. The results shows that there is room for improvement in all countries that would enable more favorable access to capital.

capital mobility; capital market union; EU; FDI

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