VPLYV PRÍLEVU PRIAMYCH ZAHRANIČNÝCH INVESTÍCIÍ NA HOSPODÁRSKY RAST V NOVÝCH ČLENSKÝCH ŠTÁTOCH EURÓPSKEJ ÚNIE ZO STREDNEJ A Z VÝCHODNEJ EURÓPY
Impact of foreign direct investment inflows on the economic growth in the new EU member states from Central and Eastern Europe
The positive effect of the foreign direct investments (FDI) on the economic growth is a generally accepted fact in Central and Eastern Europe. The aim of this article is to analyse this axiom on the set of eight new EU member states. The analysis is based on correlation analysis and regression analysis of the FDI inflow on the GDP growth in the time period 1993 - 2003. The results of the correlation analysis are mixed - definite positive correlation can be noted only in three countries. The regression analysis brought controversial results. Regression tests show that the inflow of FDI failed to support economic growth and large FDI inflows are accompanied by slow GDP growth. The main factor behind these results is possibly the nature of the FDI inflows - more than 70 % of the total FDI inflows came through privatisation and the short-term positive effect of these FDI are limited.
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