Brownfield Sites and Attracting Foreign Brownfield Investments: The Case of Serbia. - Le aree industriali dismesse e attrattività per gli investimenti esteri: il caso della Serbia

Safet Kurtovic, Sead Talovic and Haris Omerika
Additional contact information
Safet Kurtovic: Dzemal Bijedic University Of Mostar, Postal: Mithada Hunjndura Hujke Bb, 88 000 Mostar -Bosnia And Herzegovina, http://www.unmo.ba/eng.aspx
Sead Talovic: Ministry of Foreign Trade and Economic Relations, Postal: Sarajevo
Haris Omerika: Dzemal Bijedic University Of Mostar, Postal: Mithada Hunjndura Hujke Bb, 88 000 Mostar -Bosnia And Herzegovina, http://www.unmo.ba/eng.aspx

Economia Internazionale / International Economics, 2015, vol. 68, issue 4, 493-519

Abstract: The main objective of this paper is to study the impact of brownfield sites in the area of attracting foreign brownfield investments (FBI) in Serbia. The paper analyzes cross-section data in the time period from 2005 to 2013. It applies multiple regression technique and measures the impact of macroeconomic and transition variables on attracting foreign investments in brownfield sites in Serbia. The research has shown that macroeconomic indicators such as unemployment rate, average annual wages, gross domestic product, consumer price and exchange rate are statistically significant, while real GDP growth, subsidies and other transfers are statistically insignificant. In terms of transition factors we have found price liberalization, large scale privatization, small scale privatization, rail lines (total route-km) to be statistically significant, while roads (total network-km), governance and enterprise restructuring are statistically insignificant. - Scopo di questo studio è quello di esaminare la capacità delle aree industriali dismesse in Serbia di attrarre investimenti esteri. Si analizzano dati cross-section nel periodo 2005-2013. Si applica una tecnica di regressione multipla e si misura l’impatto delle variabili macroeconomiche e di transizione sulla capacità di attrarre investimenti esteri nei siti industriali dismessi serbi. La ricerca ha mostrato che gli indicatori macroeconomici quali il tasso di disoccupazione, i salari medi annuali, il PIL, i prezzi al consumo e i tassi di cambio sono statisticamente significativi, mentre la crescita del PIL reale, i sussidi ed altri trasferimenti sono statisticamente non significativi. Quanto ai fattori transitori, sono risultati statisticamente significativi la liberalizzazione dei prezzi, le privatizzazioni su larga e su piccola scala, i collegamenti ferroviari (totale tratte per km), mentre non sono risultati statisticamente significativi i collegamenti stradali (totale della rete per km), le caratteristiche della governance e le ristrutturazioni d’impresa.

Keywords: Brownfield; Investments; Transition; Privatization; Liberalization; Subsidies (search for similar items in EconPapers)
JEL-codes: F01 F15 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.iei1946.it/RePEc/ccg/KURTOVIC%20ET%20AL%20493_519.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0765

Access Statistics for this article

Economia Internazionale / International Economics is currently edited by Giovanni Battista Pittaluga

More articles in Economia Internazionale / International Economics from Camera di Commercio Industria Artigianato Agricoltura di Genova Via Garibaldi 4, 16124 Genova, Italy. Contact information at EDIRC.
Bibliographic data for series maintained by Angela Procopio ().