Pregled bibliografske jedinice broj: 221768
Foreign Capital Inflows - Effects on National Savings, Domestic Investments and Balance of Payments of the Transition Countries in Central and Eastern Europe
Foreign Capital Inflows - Effects on National Savings, Domestic Investments and Balance of Payments of the Transition Countries in Central and Eastern Europe // The Croatian Economic Development - Transition Towards the Market Economy / Teodorović, Ivan et al. (ur.).
Zagreb: The Institute of Economics, Zagreb, 2005. str. 79-98 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
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Naslov
Foreign Capital Inflows - Effects on National Savings, Domestic Investments and Balance of Payments of the Transition Countries in Central and Eastern Europe
Autori
Lovrinčević, Željko ; Marić, Zdravko ; Mikulić, Davor
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
The Croatian Economic Development - Transition Towards the Market Economy
/ Teodorović, Ivan et al. - Zagreb : The Institute of Economics, Zagreb, 2005, 79-98
Skup
The Croatian Economic Development - Transition Towards the Market Economy
Mjesto i datum
Zagreb, Hrvatska, 26.10.2005
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
foreign capital inflow; national savings; domestic investments; balance of payments
Sažetak
This paper analyses the effects of the gross foreign capital inflows on the national savings, domestic investments and balance of payments in transition economies. The hypothesis put forward is that the foreign capital inflows into transition countries increase, on average, the levels of national investments but not the national savings levels. The panel data analysis with so called fixed effects method has been applied to 11 transition countries (CEEC) over a ten-year period. The dependant variables are the national investments and savings. Foreign capital inflows into transition countries have had a positive "crowding-in effect" on the national investment. The strongest and statistically most significant correlation has been found for the other foreign investment variable (credits). The foreign direct investments (FDI) have also been shown as significant although with a weaker correlation. Portfolio investment inflows have no significant influence on national investments. As opposed to the investment effects, total foreign capital inflow and its individual components turned out to be insignificant in explaining the national savings in transition economies. This result implies that national and foreign savings are not substitutes in transition countries. Therefore, limiting the access to foreign financing would decrease national investments without increasing the level of national savings.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
