ABSTRACT

A number of studies have dealt with the effects of economic integration on foreign direct investment, yet without a comprehensive and simultaneous analysis of the overall positioning of the countries involved along the investment development path (IDP). In the current paper, a comparative analysis of IDPs of five Central and Eastern European (CEE) countries, both members and nonmembers of the European Union (EU), is conducted. The purpose of the paper is to determine the effect of economic integration on foreign direct investment (FDI) flows and on the movement of these CEE economies through their IDP stages. An attempt is made to identify the positioning of the sample countries on the IDP, using trend estimation depicting the relationship between net outward investment (NOI) per capita and gross domestic product (GDP) per capita, as well as detailed descriptive data on inward and outward FDI stocks and flows, subsequently complemented with econometric analysis. While the findings point to a generally positive effect of EU membership on FDI growth and IDP trajectories, integration tends to exert a stronger effect on inward FDI than on outward FDI of the investigated member countries. At the same time, the study’s findings reveal the need to add new theoretical considerations to the interface between EU integration and the IDP model, as well as formulate certain policy implications.

摘要

许多研究探讨了经济一体化对外国直接投资的影响，但没有对投资发展路径（IDP）沿线国家的总体定位进行全面、同步的分析。在本论文中，对五个中欧和东欧 (CEE) 国家（包括欧盟 (EU) 成员国和非成员国）的国内流离失所者进行了比较分析。本文的目的是确定经济一体化对外国直接投资 (FDI) 流动以及这些中东欧经济体在其 IDP 阶段的流动的影响。试图确定样本国家在 IDP 上的定位，使用趋势估计描述人均净对外投资 (NOI) 与人均国内生产总值 (GDP) 之间的关系，以及关于流入和流出外国直接投资存量和流量的详细描述性数据，随后辅以计量经济分析。虽然调查结果表明欧盟成员国身份对 FDI 增长和 IDP 轨迹具有普遍的积极影响，但一体化对内向 FDI 的影响往往比对被调查成员国的外向 FDI 的影响更大。同时，该研究的结果表明，需要在欧盟一体化和 IDP 模型之间的接口上增加新的理论考虑，并制定某些政策含义。一体化对流入 FDI 的影响往往比对被调查成员国的流出 FDI 的影响更大。同时，该研究的结果表明，需要在欧盟一体化和 IDP 模型之间的接口上增加新的理论考虑，并制定某些政策含义。一体化对流入 FDI 的影响往往比对被调查成员国的流出 FDI 的影响更大。同时，该研究的结果表明，需要在欧盟一体化和 IDP 模型之间的接口上增加新的理论考虑，并制定某些政策含义。