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An analysis of the economic determinants and the quality of the institutional framework as factors to attract foreign direct investment in South-Eastern Europe: The case of Greece
[journal article]
Abstract Foreign Direct Investment (FDI) is considered by researchers as a critical
factor for economic growth and development since they have shown a positive relationship
between FDI and economic growth. The recent economic crisis in the European Union
(EU) has brought up again the discussion of the key... view more
Foreign Direct Investment (FDI) is considered by researchers as a critical
factor for economic growth and development since they have shown a positive relationship
between FDI and economic growth. The recent economic crisis in the European Union
(EU) has brought up again the discussion of the key drivers specific to the attraction of FDI.
In addition to strict economic factors the literature emphasizes the role of institutions in a
country as determinants in attracting FDI inflows. An analysis of the role that the quality of
institutions in attracting FDI has in Greece is attempted using an econometric model on
institutional, regulatory, country specific and firm level data. For the purpose of giving a
regional dimension in the analysis, and for attempting a comparison of the findings, the
analysis focuses besides Greece, in two other Southeastern European countries (SEE),
Bulgaria and Romania, being two new member states of the EU.... view less
Keywords
foreign investment; direct investment; Southeastern Europe; economic factors; institutional factors; economic growth; Greece; Bulgaria; Romania
Classification
Area Development Planning, Regional Research
Political Economy
Document language
English
Publication Year
2015
Page/Pages
p. 35-58
Journal
Journal of Urban and Regional Analysis, 7 (2015) 1
ISSN
2067-4082
Status
Published Version; peer reviewed