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The Determinants of Foreign Direct Investment in Transition Economies: A Meta-Analysis

Author

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  • Masahiro Tokunaga

    (Faculty of Business and Commerce, Kansai University)

  • Ichiro Iwasaki

    (Institute of Economic Research, Hitotsubashi University)

Abstract

In this paper, we conduct a meta-analysis of studies that empirically examine the relationship between economic transformation and foreign direct investment (FDI) performance in Central and Eastern Europe and the former Soviet Union over the past quarter century. More specifically, we synthesize the empirical evidence reported in previous studies that deal with the determinants of FDI in transition economies, focusing on the impacts of transition factors. We also perform meta-regression analysis to specify determinant factors of the heterogeneity among the relevant studies and the presence of publication selection bias. We find that the existing literature reports a statistically significant nonzero effect as a whole, and a genuine effect is confirmed for some FDI determinants beyond the publication selection bias.

Suggested Citation

  • Masahiro Tokunaga & Ichiro Iwasaki, 2016. "The Determinants of Foreign Direct Investment in Transition Economies: A Meta-Analysis," KIER Working Papers 952, Kyoto University, Institute of Economic Research.
    • Handle: RePEc:kyo:wpaper:952
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    Keywords

    foreign direct investment (FDI); FDI determinants; transition economies; meta-analysis; publication selection bias;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • P33 - Political Economy and Comparative Economic Systems - - Socialist Institutions and Their Transitions - - - International Trade, Finance, Investment, Relations, and Aid

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