Is cluster development an explanatory factor of increased levels of FDI? Evidence from the case of Bulgaria

Ioannis-Dionysios Salavrakos and Zornitsa Vasileva Georgieva

International Journal of Economics and Business Research, 2010, vol. 2, issue 6, 461-478

Abstract: This paper explains determinants of FDI levels in Bulgaria by comparing cluster theory and traditional theories of international production. The results obtained may add another perspective on future development of entrepreneurship in Bulgaria and other transition economies. The research stresses out that clusters, especially when backed up by government or local assistance, can contribute to inter-firm cooperation and networking, which eventually represents a necessary determinant of regional development.

Keywords: FDI; foreign direct investment; cluster theory; regional development; transition economies; Bulgaria; international production; entrepreneurship; government assistance; inter-firm cooperation; networking; economics; business research; clusters. (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijecbr:v:2:y:2010:i:6:p:461-478

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