Foreign Direct Investment and Institutional Environment in Transition Economies |
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Authors: | Črt Kostevc Tjaša Redek Andrej Sušjan |
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Institution: | (1) Faculty of Economics, University of Ljubljana, Ljubljana, Slovenia |
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Abstract: | We analysed the relation between foreign direct investment and the quality of the institutional environment in transition
economies. The analysis confirmed a significant impact of various institutional aspects on the inflow of foreign capital.
To isolate the importance of the institutional environment from the impact of other factors, a panel data analysis was performed
using the data of 24 transition economies in the period 1995–2002. The results showed that in the observed period the quality
of the institutional environment significantly influenced the level of foreign direct investment in transition economies.
Other variables that proved to have a statistically significant influence were budget deficit, insider privatization, and
labour cost per hour. |
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Keywords: | economic transition institution economic growth foreign direct investment |
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