Exports and foreign direct investment as factors for economic growth in the EU New Member States

Grigor Stoevsky

Economic Thought journal, 2015, issue 2, 92-111, 112-129

Abstract: The relationships between the inward foreign direct investment and the export dynamics, on the one hand, and the economic growth, on the other, are studied. Panel econometric estimates confirm the hypotheses for an export-oriented and/or (domestic and foreign) investment-based economic growth for the EU New Member States in the past fifteen years. A factor contribution analysis reveals the leading role of exports as well as the positive contributions of a similar magnitude of domestic and foreign direct investment for the economic activity dynamics. The implementation of economic policies by the EU New Member States aimed at promoting the export orientation of domestic production and maintaining an attractive business environment for foreign direct investors could be recommended based on these empirical results.

JEL-codes: C23 E10 F43 O47 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:bas:econth:y:2015:i:2:p:92-111,112-129

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