Misunderstanding of FDI in the Western Balkans: Cart before the Horse and Wheels without Suspension
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2019
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One of the key characteristics of the world economy in the last few decades has been the rise of foreign direct investments (FDI), which represent the major and most desirable form of capital flows from developed to developing and transition countries. The aim of this paper is to investigate specificities of FDI inflow to six small open transition economies of the western Balkans over the 2004-2014 period. Formal econometric tests carried out in the paper imply that-contrary to widespread ideology-FDI inflows exhibit at best no impact whatsoever or indeed a statistically significant negative impact on both GDP and GNP (cumulative) growth rates in the western Balkans. After exploring stylized facts and contrasting them with theoretical predictions, the article goes on to debunk several misconceptions in regard to motives, modes of operation and economic effects of FDI confronted with inconsistent, partial or outright detrimental government policies. The authors therefore call for a cons...iderably different attitude towards FDI and the growth-generating concept in the Balkans.
Izvor:
Journal of Balkan and Near Eastern Studies, 2019, 21, 4, 462-477Izdavač:
- ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, ABINGDON
Finansiranje / projekti:
- Evropske integracije i društveno-ekonomske promene privrede Srbije na putu ka EU (RS-MESTD-Integrated and Interdisciplinary Research (IIR or III)-47009)
DOI: 10.1080/19448953.2018.1506285
ISSN: 1944-8953
WoS: 000477088100006
Scopus: 2-s2.0-85054812418
Institucija/grupa
Fakultet poslovne ekonomijeTY - JOUR AU - Malović, Marko AU - Ozer, Mustafa AU - Zdravković, Aleksandar PY - 2019 UR - https://redun.educons.edu.rs/handle/123456789/392 AB - One of the key characteristics of the world economy in the last few decades has been the rise of foreign direct investments (FDI), which represent the major and most desirable form of capital flows from developed to developing and transition countries. The aim of this paper is to investigate specificities of FDI inflow to six small open transition economies of the western Balkans over the 2004-2014 period. Formal econometric tests carried out in the paper imply that-contrary to widespread ideology-FDI inflows exhibit at best no impact whatsoever or indeed a statistically significant negative impact on both GDP and GNP (cumulative) growth rates in the western Balkans. After exploring stylized facts and contrasting them with theoretical predictions, the article goes on to debunk several misconceptions in regard to motives, modes of operation and economic effects of FDI confronted with inconsistent, partial or outright detrimental government policies. The authors therefore call for a considerably different attitude towards FDI and the growth-generating concept in the Balkans. PB - ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, ABINGDON T2 - Journal of Balkan and Near Eastern Studies T1 - Misunderstanding of FDI in the Western Balkans: Cart before the Horse and Wheels without Suspension EP - 477 IS - 4 SP - 462 VL - 21 DO - 10.1080/19448953.2018.1506285 UR - conv_992 ER -
@article{ author = "Malović, Marko and Ozer, Mustafa and Zdravković, Aleksandar", year = "2019", abstract = "One of the key characteristics of the world economy in the last few decades has been the rise of foreign direct investments (FDI), which represent the major and most desirable form of capital flows from developed to developing and transition countries. The aim of this paper is to investigate specificities of FDI inflow to six small open transition economies of the western Balkans over the 2004-2014 period. Formal econometric tests carried out in the paper imply that-contrary to widespread ideology-FDI inflows exhibit at best no impact whatsoever or indeed a statistically significant negative impact on both GDP and GNP (cumulative) growth rates in the western Balkans. After exploring stylized facts and contrasting them with theoretical predictions, the article goes on to debunk several misconceptions in regard to motives, modes of operation and economic effects of FDI confronted with inconsistent, partial or outright detrimental government policies. The authors therefore call for a considerably different attitude towards FDI and the growth-generating concept in the Balkans.", publisher = "ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, ABINGDON", journal = "Journal of Balkan and Near Eastern Studies", title = "Misunderstanding of FDI in the Western Balkans: Cart before the Horse and Wheels without Suspension", pages = "477-462", number = "4", volume = "21", doi = "10.1080/19448953.2018.1506285", url = "conv_992" }
Malović, M., Ozer, M.,& Zdravković, A.. (2019). Misunderstanding of FDI in the Western Balkans: Cart before the Horse and Wheels without Suspension. in Journal of Balkan and Near Eastern Studies ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, ABINGDON., 21(4), 462-477. https://doi.org/10.1080/19448953.2018.1506285 conv_992
Malović M, Ozer M, Zdravković A. Misunderstanding of FDI in the Western Balkans: Cart before the Horse and Wheels without Suspension. in Journal of Balkan and Near Eastern Studies. 2019;21(4):462-477. doi:10.1080/19448953.2018.1506285 conv_992 .
Malović, Marko, Ozer, Mustafa, Zdravković, Aleksandar, "Misunderstanding of FDI in the Western Balkans: Cart before the Horse and Wheels without Suspension" in Journal of Balkan and Near Eastern Studies, 21, no. 4 (2019):462-477, https://doi.org/10.1080/19448953.2018.1506285 ., conv_992 .