Foreign Direct Investments: A Comparison of EAEU, DCFTA and Selected EU-CEE Countries

Peter Havlik, Gabor Hunya and Yury Zaytsev

No 428, wiiw Research Reports from The Vienna Institute for International Economic Studies, wiiw

Abstract: Foreign direct investment (FDI) has been the main driver of restructuring and modernisation in Central and Eastern Europe. This paper looks into FDI stocks and flows in a dynamic and cross-country perspective, comparing the key EAEU countries (Belarus, Kazakhstan and Russia) as well as DCFTA countries (Georgia, Moldova and Ukraine) with selected EU-CEE peers (Hungary, Poland, Romania and Slovakia) in the neighbourhood. The study shows that EAEU and DCFTA countries have not been particularly attractive for foreign investors taking out round tripping inflows from offshore destinations, the accumulated FDI would be even lower. This explains a lot why restructuring in the region stalls. This pattern can change only with marked improvements in the domestic regulatory environment and investment climate.

Keywords: foreign direct investment; FDI flows and stocks; Eastern Europe; Belarus; Georgia; Moldova; Kazakhstan; Russia; Ukraine; FDI by key partners and sectors (search for similar items in EconPapers)
JEL-codes: C82 F13 F14 O57 P23 (search for similar items in EconPapers)
Pages: 43 pages including 2 Tables and 23 Figures
Date: 2018-06
New Economics Papers: this item is included in nep-cis, nep-cwa, nep-int, nep-knm and nep-tra
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