Is There an Asymmetric Effect Due to Foreign Direct Investment on the Exports of the Manufacturing and Service Sectors of Central, Eastern, and South-Eastern European Countries?

Safet Kurtovic, Nehat Maxhuni, Blerim Halili and Arta Maxhuni

Eastern European Economics, 2025, vol. 63, issue 6, 875-924

Abstract: This study estimates the asymmetric effect of foreign direct investment on the exports of the manufacturing and service sectors of 11 Central, Eastern, and South-Eastern (CESEE) countries, using the nonlinear ARDL model, over the period of 1996–2022. The results show an asymmetric effect due to mergers & acquisitions (M&A) on the exports of 3 countries, while greenfield foreign direct investment (GFDI) has an impact on the exports of 4 of the 17 manufacturing sectors. There is also an asymmetric effect due to M&A on the exports of 5 out of the 6 service sectors.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:mes:eaeuec:v:63:y:2025:i:6:p:875-924

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DOI: 10.1080/00128775.2024.2368683

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