OUTWARD FDI AND THE INVESTMENT DEVELOPMENT PATH IN ROMANIA

Lect. Simona Gabriela Maşca Ph.D and Assist. Viorela Ligia Văidean Ph.D Student
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Lect. Simona Gabriela Maşca Ph.D: “Babeş-Bolyai” University Faculty of Economics and Business Administration Cluj-Napoca, Romania
Assist. Viorela Ligia Văidean Ph.D Student: “Babeş-Bolyai” University Faculty of Economics and Business Administration Cluj-Napoca, Romania

Revista Tinerilor Economisti (The Young Economists Journal), 2010, vol. 1, issue 15S, 27-38

Abstract: Outward foreign direct investment (FDI) represents the present way for Central and Eastern European countries reintegration in the global economy, coming next after foreign trade and FDI inflows liberalization. Analyzing the multinationals location factors, Dunning explains in his theories the relationship between a country’s development level and its net international investment position. This relationship was recently empirically tested for some CEE countries. Since Romania is not concerned by these studies, we are interested on characterizing the outward FDI phenomenon in Romania in the light of Dunning’s Investment Development Path theory. A series of indicators are used in this purpose, concluding that nowadays, Romania is situated in the second stage of IDP. More, we found that the IDP paradigm is generally applicable to Romania; the particularity consists in bigger growth rates for FDI inflows than for GDP in the first stages of IDP. Some policy implications are drawn at the end.

Keywords: multinationals, outward FDI; international investment position; IDP theory; descriptive analyses (search for similar items in EconPapers)
JEL-codes: F21 F23 F43 (search for similar items in EconPapers)
Date: 2010
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