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Foreign Direct Investments Country Attractiveness in Post-communist Central and Eastern Europe

In: Economic Growth, Prosperity and Sustainability in the Economies of the Balkans and Eastern European Countries

Author

Listed:
  • Stavros Karelis

    (University of Macedonia)

  • Dimitrios Kyrkilis

    (University of Macedonia)

Abstract

The current study aims to investigate the relative country Foreign Direct Investment (FDI) attractiveness in the region of post-communistic Central, East, and South-Eastern Europe, where countries started to build a democratic state and an open market economy based on relatively similar initial conditions after the fall of the Berlin wall (Outhwaite in Contemporary Europe, 2016a). Although the transition strategies and policies were very similar, influenced by the recipes of the so-called Washington Consensus and the Bing Bang approach towards the establishment of liberal market economies, there are significant differences (chronological or substantial) in the implementation of these policies leading to different paths of policy efficacy and institutional outcomes. We attempt to show that these different governance paths determine the ‘individual country FDI attractiveness and sustainability’ across eleven (11) countries in the specific region. Qualitative research methods influence the methodology applied. By filtering through theory and empirical evidence of firm internationalisation strategies, this paper identifies the more relevant determinants of country FDI attractiveness, expresses them in quantifiable forms, and measures the variation of FDI attractiveness in the region among our research cases. The paper concludes that the procedural structure of starting up a new business, combined with the economic and market policies for regulation, good structure, and efficiency, is the main configurational (By the word configurational, Rihoux and Ragin (2009) refer to a specific combination of factors that produces a given outcome of interest.) factors determining a country’s degree of FDI attractiveness and sustainability.

Suggested Citation

  • Stavros Karelis & Dimitrios Kyrkilis, 2024. "Foreign Direct Investments Country Attractiveness in Post-communist Central and Eastern Europe," Springer Proceedings in Business and Economics, in: Maria Mavri & Patricia Ikouta Mazza & Anastasios Karasavvoglou & Persefoni Polychronidou (ed.), Economic Growth, Prosperity and Sustainability in the Economies of the Balkans and Eastern European Countries, pages 47-65, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-58437-4_3
    DOI: 10.1007/978-3-031-58437-4_3
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