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FDI into transition economies

Estrin, Saul ORCID: 0000-0002-3447-8593 and Uvalic, M. (2014) FDI into transition economies. Economics of Transition, 22 (2). pp. 281-312. ISSN 0967-0750

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Identification Number: 10.1111/ecot.12040


The article explores the determination of foreign direct investment (FDI) into the Balkan transition economies - Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Montenegro, Romania and Serbia. Detailed FDI inflows to Southeast Europe are analysed to determine the main differences in the volume, timing and sectoral structure of FDI within the region and in comparison to the Central East European countries. A gravity model for all transition economies during 1990-2011 is then estimated to assess whether the factors driving FDI to the Western Balkans are different. They are found to be so; even when the size of their economies, distance from the source economies, institutional quality and prospects of EU membership are taken into account, Western Balkans countries receive less FDI than other transition countries. These issues are of policy relevance for the Balkan economies and ought to contribute to the current debate on the 'new growth model'.

Item Type: Article
Official URL:
Additional Information: © 2014 The Authors Economics of Transition © 2014 The European Bank for Reconstruction and Development. Published by Blackwell Publishing Ltd
Divisions: Management
Subjects: H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
JEL classification: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E31 - Price Level; Inflation; Deflation
E - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates
O - Economic Development, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity > O47 - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output (Income) Convergence
Date Deposited: 18 Jul 2014 09:47
Last Modified: 13 May 2022 15:57

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