Foreign Direct Investment Inflow Dynamics: The Case of Central and Eastern Europe

Kunofiwa Tsaurai

doi:10.18778/1508-2008.26.03

Autor

Kunofiwa Tsaurai Ph.D., Full Professor at the University of South Africa, Department of Finance, Risk Management and Banking, Pretoria, South Africa https://orcid.org/0000-0001-8041-1181

DOI:

https://doi.org/10.18778/1508-2008.26.03

Słowa kluczowe:

bezpośrednie inwestycje zagraniczne, Europa Środkowo‑Wschodnia, dane panelowe

Abstrakt

Opracowanie przedstawia wyniki badania dynamiki napływu bezpośrednich inwestycji zagranicznych (BIZ) do krajów Europy Środkowo‑Wschodniej (CEEC) z wykorzystaniem metod analizy danych panelowych (1994–2020), takich jak metoda efektów stałych, w pełni zmodyfikowana metoda najmniejszych kwadratów (FMOLS) i metoda efektów losowych. W szczególności zbadano, jakie czynniki mogą być odpowiedzialne za zróżnicowaną strukturę napływu BIZ do krajów Europy Środkowo‑Wschodniej. Różne wyniki prezentowane w istniejącej literaturze empirycznej na temat dynamiki napływu BIZ skłoniły autora do podjęcia się tego badania, aby wnieść wkład w toczącą się debatę. Zauważono, że rozwój infrastruktury, wzrost gospodarczy i inwestycje krajowe miały znaczący pozytywny wpływ na BIZ co potwierdziły wszystkie trzy metody analizy danych panelowych. Inne zmienne, które miały znaczący pozytywny wpływ na BIZ, obejmują (1) komplementarność rozwoju infrastruktury i rozwoju finansowego (metoda efektów stałych, metoda efektów losowych), (2) otwartość handlu (metoda efektów stałych) oraz (3) oszczędności (metoda efektów losowych, FMOLS). Stosując metodę FMOLS zaobserwowano znaczący negatywny wpływ kursu walutowego na BIZ. Zachęca się zatem kraje Europy Środkowo‑Wschodniej do wdrożenia polityki mającej na celu zwiększenie rozwoju infrastruktury, rozwoju finansowego, otwartości handlu i oszczędności w celu zwiększenia napływu BIZ. W przyszłych badaniach należy zbadać minimalne poziomy progowe zmiennych objaśniających BIZ.

Pobrania

Brak dostępnych danych do wyświetlenia.

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