ABSTRACT

Although middle-income Balkan countries have attracted substantial FDI inflows, the level of that inflow is still significantly lower than the European average, with no visible redirection towards the Balkans. Both wages and labour productivity have had a significant impact on FDI inflows in European Union (EU) countries. This research aims to explore the significance of those variables in the countries of the Balkans. We have found that, in Balkan countries, FDI inflows respond negatively to shocks in labour productivity, which is contrary to the experience of EU countries. In EU countries, growth in gross wages has a negative impact on FDI inflows, while in Balkan countries, we found a paradoxical scenario, in that increased wages actually have a positive impact on FDI inflows.

摘要

尽管中等收入的巴尔干国家吸引了大量的外国直接投资流入，但这一流入水平仍大大低于欧洲平均水平，没有明显的转向巴尔干的迹象。工资和劳动生产率都对欧盟国家中的外国直接投资流入产生了重大影响。这项研究旨在探讨这些变量在巴尔干国家的重要性。我们发现，在巴尔干国家，外国直接投资的流入对劳动生产率的冲击有负面反应，这与欧盟国家的经验相反。在欧盟国家，工资总额的增长对外国直接投资的流入有负面影响，而在巴尔干国家，我们发现了一个自相矛盾的情况，即工资的增加实际上对外国直接投资的流入有积极的影响。