World economy, policy and information technology

Assessing the inward foreign direct investment and their impact on gross domestic product growth in Central and Eastern Europe countries

Economic Annals-XXI

Economic Annals-XXI: Volume 202, Issue (3-4), Pages: 17-30

Citation information:
Liptáková, K., Rigová, Z., & Cibuľa, P. (2023). Assessing the inward foreign direct investment and their impact on gross domestic product growth in Central and Eastern Europe countries. Economic Annals-XXI, 202(3-4), 17-30. doi: https://doi.org/10.21003/ea.V202-02

EA-XXI-V202-02Download PDF

Katarína Liptáková
PhD (Economics),
Associate Professor,
Department of Political Science,
Faculty of Political Science and International Relations,
Matej Bel University in Banská Bystrica
1 Kuzmányho Str., Banská Bystrica, 974 01, Slovak Republic
katarina.liptakova@umb.sk
ORCID ID: https://orcid.org/0000-0002-6711-1405

Zuzana Rigová
PhD (Engineering),
Department of Quantitative Methods and Information Systems,
Faculty of Economics,
Matej Bel University in Banská Bystrica
10 Tajovského Str., Banská Bystrica, 975 90, Slovak Republic
zuzana.rigova@umb.sk
ORCID ID: https://orcid.org/0000-0002-7525-1619

Peter Cibuľa
Engineer,
PhD Student (Political Science),
Department of Political Science,
Faculty of Political Science and International Relations,
Matej Bel University in Banská Bystrica
1 Kuzmányho Str., Banská Bystrica, 974 01, Slovak Republic
peter.cibula@umb.sk
ORCID ID: https://orcid.org/0009-0008-0970-6217

Assessing the inward foreign direct investment and their impact on gross domestic product growth in Central and Eastern Europe countries

Abstract. The article is focused on researching the development of foreign direct investment (FDI) in Central and Eastern Europe countries (CEE) from 2010 to 2020. For FDI, we monitor two indicators – inward flows (as % of GDP) and inward flows (as % of world total) from two points of view (time period and individual countries). We also selected the indicator which considers the size of the country. It is the FDI stocks (as % of GDP), and we follow it in the year 2020. We work with descriptive geographic, demographic and socio-economic characteristics of the studied countries in 2020.

Development of FDI from 2010 to 2020, comparison between years and countries as well as the influence of FDI on Gross Domestic Product (GDP) to find out if there is a relationship between its level and inward FDI are our research targets. The database for our research is freely available data from the World Bank and the United Nations Conference on Trade and Development.

In the discussion section, we evaluate each indicator for each country separately. We apply the coefficient of variation to measure regional differences between CEE countries in the analyzed indicators.

The main result shows that there is a strong direct connection between GDP and inward FDI (flows and stocks) at the beginning, in the middle, and at the end and of the monitored period in the analyzed countries.

Keywords: Foreign Direct Investment; GDP; Inward FDI Flows; Inward FDI Stocks; CEE

JEL Classifications: F43; F62; F63

Acknowledgements and Funding: The authors received no direct funding for this research.

Contribution: The authors contributed equally to this work.

Data Availability Statement: The dataset is freely available from the collections of the World Bank and the United Nations Conference on Trade and Development.

DOI: https://doi.org/10.21003/ea.V202-02

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Received 20.02.2023
Received in revised form 12.03.2023
Accepted 19.03.2023
Available online 10.04.2023

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