By Marco Neuhaus
This booklet presents a complete knowing of the connection among FDI and monetary progress with distinct consciousness to the nations of relevant and jap Europe. inside of a brand new semi-endogenous progress version, the booklet illustrates the influence of FDI on monetary progress for each level of improvement of a rustic. constructing nations adventure either robust capital accumulation and know-how move via FDI, while hugely constructed international locations frequently take advantage of FDI as a car of worldwide expertise diffusion. Departing from this common version, the e-book then investigates the influence of FDI on fiscal development for the transition nations of relevant and japanese Europe. With the aid of sleek panel information econometrics it includes out the strongly awaited empirical proof of a development bettering influence of FDI within the transition international locations, and it explains for every nation the particular progress contributions caused by way of FDI.
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Additional resources for The Impact of FDI on Economic Growth: An Analysis for the Transition Countries of Central and Eastern Europe
This means that its introduction increases the total number of all available capital varieties in the economy. Note that we will use the term ”variety” as a synonym for “diﬀerent type” of capital good throughout the rest of the chapter. For our FDI growth model, we use a slightly weaker deﬁnition of “completely new”: FDI will lead to the production of a “completely new” type of capital product in the host country if this capital variety was not used before or if it was used in such a small amount that it had no signiﬁcant eﬀect on aggregate production.
On that basis we review the literature and determine which of these transmission channels have been picked up in previous growth models. It will turn out that the direct transmission channel - an immediate increase of capital accumulation and technological progress through FDI-induced greenﬁeld investments - and the 42 3 Capital Deepening through FDI in an Economic Growth Model indirect transmission channel - through foreign ownership participation - have not been modelled yet. 1 Deﬁnition of FDI and Description of the Main Transmission Channels Before we can eﬀectively model FDI, we ﬁrst need to clarify what types of FDI exist and how it is linked to capital accumulation and technological change.
In addition, the Czech Republic’s capital productivity is even underscoring the capital productivity of the EU12 after 1997. Why? 5% in Poland). 8% on average between 1997-99). Together with an unbroken increase in the capital stock, this ﬁnally pushed the Czech Republic’s capital productivity below the EU-12 average. A country’s capital productivity is a very interesting indicator as it also mirrors the attractiveness for undertaking capital investment in that country. 16 Over the transition period, we observed FDI inﬂows going up while capital productivity went down in the transition countries.