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An assessment of the Estonian investment climate: Results of a survey of foreign investors and policy implications

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  • Ziacik, Terri

Abstract

redible economic reform has played a key role in Estonia s success in attracting significant amounts of foreign direct investment. This paper analyzes two years of data from a survey of foreign investors in Estonia to determine the major motivations to invest and the greatest problems faced by investors.Results indicate that the labour force and market-related factors are the primary motivations for investors coming to Estonia, while bureaucracy, corruption, and labour quality are the greatest problems.Ordered probit analysis of the factor rankings supports previous findings that investor characteristics such as export orientation, mode of entry, or industry can explain factor evaluation for some, but not all, factors.This method can be used by policy makers to identify whether certain types of investors are likely to be affected differently by the host country investment climate.

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  • Ziacik, Terri, 2000. "An assessment of the Estonian investment climate: Results of a survey of foreign investors and policy implications," BOFIT Discussion Papers 3/2000, Bank of Finland Institute for Emerging Economies (BOFIT).
    • Handle: RePEc:zbw:bofitp:bdp2000_003
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    1. Markusen, James R. & Venables, Anthony J., 1999. "Foreign direct investment as a catalyst for industrial development," European Economic Review, Elsevier, vol. 43(2), pages 335-356, February.
    2. Klaus E. Meyer, 1998. "Direct Investment in Economies in Transition," Books, Edward Elgar Publishing, number 1413, March.
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    4. Hans‐Peter Lankes & A. J. Venables, 1996. "Foreign direct investment in economic transition: the changing pattern of investments," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(2), pages 331-347, October.
    5. Pavitt, Keith, 1984. "Sectoral patterns of technical change: Towards a taxonomy and a theory," Research Policy, Elsevier, vol. 13(6), pages 343-373, December.
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    7. Chakrabarti, A., 1997. "The Distribution of Foreign Direct Investment and the Excluded Economies," Working Papers 397, Research Seminar in International Economics, University of Michigan.
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    Cited by:

    1. Sutela, Pekka, 2001. "Managing capital flows in Estonia and Latvia," BOFIT Discussion Papers 17/2001, Bank of Finland Institute for Emerging Economies (BOFIT).

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