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External Balance in a Transition Economy: The Role of Foreign Direct Investments

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  • Martin Mandel
  • Vladimír Tomšík

Abstract

This paper analyzes the development of the external balance in five Central and East European countries: Czech Republic, Hungary, Poland, Slovakia, and Slovenia. The paper applies, expands, and empirically verifies the ideas of life-cycle theory in the area of the effects of foreign direct investment on the balance of payments in transition countries. The article defines and explores the basic general stages in the external balance of a transition country. The definition of the stages draws from a model of consumer behavior within the life-cycle theory. The external balance stages are defined as follows: young transition economy, mature transition economy, posttransition economy, and expanding economy. The paper develops a model that provides criteria that not only classify the current stage of each transition country, but also evaluate the success in the catching-up process of the country examined.

Suggested Citation

  • Martin Mandel & Vladimír Tomšík, 2008. "External Balance in a Transition Economy: The Role of Foreign Direct Investments," Eastern European Economics, Taylor & Francis Journals, vol. 46(4), pages 5-26, July.
    • Handle: RePEc:mes:eaeuec:v:46:y:2008:i:4:p:5-26
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    Cited by:

    1. repec:cnb:ocpubv:rb07/1 is not listed on IDEAS
    2. Robert Kelm, 2016. "Eksport, import i kurs złotego: 2000−2014," Bank i Kredyt, Narodowy Bank Polski, vol. 47(6), pages 585-620.
    3. Ondřej Šíma, 2016. "Heterogenita mobilních výrobních faktorů jako narušení podmínky optimální měnové oblasti (příklad eurozóny) [Heterogeneity of Mobile Factors of Production as a Disruption of the Optimal Currency Ar," Politická ekonomie, Prague University of Economics and Business, vol. 2016(3), pages 319-337.
    4. Josef Taušer & Markéta Arltová & Pavel Žamberský, 2015. "Czech Exports and German GDP: A Closer Look," Prague Economic Papers, Prague University of Economics and Business, vol. 2015(1), pages 17-37.
    5. Jitka Koderová, 2013. "Šedesát let oboru finance na Vysoké škole ekonomické v Praze [60 Years of the Study Branch Finance at the University of Economics, Prague]," Politická ekonomie, Prague University of Economics and Business, vol. 2013(4), pages 502-514.
    6. Lukáš Kučera & Karel Brůna, 2014. "Dynamika změny stavu zásob a její synchronizace s cyklem úspor a importu v české republice v letech 1999-2012 [A Dynamics of Inventories and Its Synchronization with a Cycle of Savings and Import i," Politická ekonomie, Prague University of Economics and Business, vol. 2014(5), pages 605-629.
    7. Kuc‑Czarnecka, Marta & Saltelli, Andrea & Olczyk, Magdalena & Reinert, Erik, 2021. "The opening of Central and Eastern European countries to free trade: A critical assessment," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 23-34.
    8. repec:cnb:ocpubv:rb06/2 is not listed on IDEAS
    9. Karel Brůna, 2013. "Koncept udržitelnosti negativní čisté investiční pozice a jeho aplikace na příkladu České republiky v letech 1999-2011 [A Concept of Sustainability of Negative Net International Investment Position," Politická ekonomie, Prague University of Economics and Business, vol. 2013(1), pages 67-90.

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