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The Determinants and Macroeconomic Impacts of Foreign Direct Investment in Transition Economies

Ichiro Iwasaki () and Masahiro Tokunaga

No 2019-8, CEI Working Paper Series from Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University

Abstract: In this paper, we perform a meta-analysis of foreign direct investment in transition economies. The first part examines how transition-specific factors affect FDI in CEE and FSU countries. The latter part explores how large is the impact of FDI on macroeconomic growth in the region. The results of meta-analysis revealed that empirical results reported in previous studies present the close relationship between the progress in transition to a market economy and FDI and a positive effect of FDI on macroeconomic growth in the literature as a whole; this suggests that, in transition economies, the success of transformation towards a marketoriented system and foreign capital flow has created a kind of virtuous cycle.

Keywords: transition economies; foreign direct investment (FDI); determinants of FDI; macroeconomic impacts of FDI; meta-analysis; publication selection bias (search for similar items in EconPapers)
JEL-codes: E22 F21 F23 F43 F62 P33 (search for similar items in EconPapers)
Pages: 31, [22] p.
Date: 2019-09
New Economics Papers: this item is included in nep-fdg, nep-int and nep-mac
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