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https://doi.org/10.18045/zbefri.2021.1.59

Governance and civil and political rights as FDI determinants in transition countries

Jelena Zvezdanović Lobanova ; Center for Economic Research, Institute of Social Sciences, Belgrade, Serbia
Mikhail Lobanov ; Institute of Economics, Russian Academy of Sciences, Moscow, Russian Federation
Milan Zvezdanović ; Academy for National Security, Belgrade, Serbia

Puni tekst: engleski, pdf (1 MB) str. 59-86 preuzimanja: 48* citiraj
APA 6th Edition
Zvezdanović Lobanova, J., Lobanov, M. i Zvezdanović, M. (2021). Governance and civil and political rights as FDI determinants in transition countries. Zbornik radova Ekonomskog fakulteta u Rijeci, 39 (1), 59-86. https://doi.org/10.18045/zbefri.2021.1.59
MLA 8th Edition
Zvezdanović Lobanova, Jelena, et al. "Governance and civil and political rights as FDI determinants in transition countries." Zbornik radova Ekonomskog fakulteta u Rijeci, vol. 39, br. 1, 2021, str. 59-86. https://doi.org/10.18045/zbefri.2021.1.59. Citirano 29.11.2021.
Chicago 17th Edition
Zvezdanović Lobanova, Jelena, Mikhail Lobanov i Milan Zvezdanović. "Governance and civil and political rights as FDI determinants in transition countries." Zbornik radova Ekonomskog fakulteta u Rijeci 39, br. 1 (2021): 59-86. https://doi.org/10.18045/zbefri.2021.1.59
Harvard
Zvezdanović Lobanova, J., Lobanov, M., i Zvezdanović, M. (2021). 'Governance and civil and political rights as FDI determinants in transition countries', Zbornik radova Ekonomskog fakulteta u Rijeci, 39(1), str. 59-86. https://doi.org/10.18045/zbefri.2021.1.59
Vancouver
Zvezdanović Lobanova J, Lobanov M, Zvezdanović M. Governance and civil and political rights as FDI determinants in transition countries. Zbornik radova Ekonomskog fakulteta u Rijeci [Internet]. 2021 [pristupljeno 29.11.2021.];39(1):59-86. https://doi.org/10.18045/zbefri.2021.1.59
IEEE
J. Zvezdanović Lobanova, M. Lobanov i M. Zvezdanović, "Governance and civil and political rights as FDI determinants in transition countries", Zbornik radova Ekonomskog fakulteta u Rijeci, vol.39, br. 1, str. 59-86, 2021. [Online]. https://doi.org/10.18045/zbefri.2021.1.59

Sažetak
This paper aimed to investigate the FDI determinants in 27 transition countries within the 2002 – 2018 period by employing system GMM analysis. One of the results of our research is that an uncertain political situation and civil liberties violations have a significant negative impact on foreign investors’ confidence. Generally, the erosion of democratic institutions acts as a deterrent to FDI inflows. Transition countries which experienced prolonged periods of central planning also recorded lower levels of FDI inflows. The results show that creating conditions for stimulating foreign investors through the improvement of institutional quality embodied in the control of corruption and voice and accountability impacted positively on FDI inflows. The interplays between overall institutional quality, voice and accountability, regulatory quality, government effectiveness and GDP growth are positive and significant. Hence, macroeconomic development has an important impact on the marginal effect of institutional quality. Therefore, we concluded that the influence of governance on FDI inflows is conditional on the transition countries’ macroeconomic performance. Our findings also reveal that of the governance dimensions, control of corruption and voice and accountability have a significant influence on the decision of multinationals to undertake investment.

Ključne riječi
foreign direct investment; institutions; civil society; democracy; transition countries

Hrčak ID: 259591

URI
https://hrcak.srce.hr/259591

[hrvatski]

Posjeta: 115 *