Foreign Direct Investment in the Visegrad Countries after 2004: Have the Visegrad Countries’ Membership in the European Union Changed Something?
Jacek Klich ()
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Jacek Klich: Cracow University of Economics
Entrepreneurial Business and Economics Review, 2014, vol. 2, issue 3, 19-31
The purpose of the paper is to identify the volume and dynamics of FDI in the Czech Republic, Hungary, Poland and Slovakia (V4) after their full accession to the European Union. The following hypothesis is tested: the Visegrad countries’ membership in the European Union has not resulted in higher increases of FDI in these countries. The methodology is based on the concept of Investment Development Path (IDP) and Net Outward Investment position (NOI) of a country. The most current data (as of 2012) on FDI is derived from UNCTAD. The literature available in ScienceDirect and EBSCO has been reviewed. The whole concept of IDP should be revisited. Possible changes should lead toward adopting a broader perspective encompassing the idiosyncratic economic structure of countries, as well as the heterogenous nature of FDI. It seems to be necessary to redefine a fourth stage of IDP and to revise the criteria for classification into certain stages to avoid discrepancies in attributing particular countries to certain stages. Further conceptual work is needed with respect to the whole IDP model. The paper extends Gorynia’s, Nowak’s & Wolniak’s analysis on IDP in V4 countries by six years (i.e. from 2007 till 2012) and allows a preliminary assessment of IDP to V4 countries after their full membership to EU to be made.
Keywords: foreign direct investment (FDI); Visegrad countries (V4); international capital movement; sector patterns of FDI (search for similar items in EconPapers)
JEL-codes: F21 (search for similar items in EconPapers)
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