Foreign Direct Investment in Central and Eastern Europe: Post-crisis Perspectives PDF
Preview Foreign Direct Investment in Central and Eastern Europe: Post-crisis Perspectives
▼ ▼ ▼ ▼ ▼ ▼ FOREIGN DIRECT INVESTMENT IN CENTRAL AND EASTERN EUROPE Post-crisis Perspectives ▼ ▼ ▼ ▼ Edited by Balázs Szent-Iványi ▼ ▼ ▼ STUDIES IN ECONOMIC TRANSITION General Editors: Jens Hölscher and Horst Tomann ▼ Studies in Economic Transition Series Editors Jens Hölscher The Business School Bournemouth University Bournemouth, United Kingdom Horst Tomann Department of Economic Policy and Economic History Freie Universitaet (FU) Berlin Berlin, Germany This series brings together theoretical and empirical studies on the trans- formation of economic systems and their economic development. The transition from planned to market economies is one of the main areas of fi appliedtheorybecauseinthis eldthemostdramaticexamplesofchange and economic dynamics can be found. It is aimed to contribute to the fi understanding of speci c major economic changes as well as to advance the theory of economic development. The implications of economic policy will be a major point of focus. More information about this series at http://www.springer.com/series/14147 BalázsSzent-Iványi Editor Foreign Direct Investment in Central and Eastern Europe Post-crisis Perspectives Editor BalázsSzent-Iványi AstonCentreforEurope AstonUniversity Birmingham,UK InstituteofWorldEconomy CorvinusUniversityBudapest Budapest,Hungary StudiesinEconomicTransition ISBN978-3-319-40495-0 ISBN978-3-319-40496-7 (eBook) DOI10.1007/978-3-319-40496-7 LibraryofCongressControlNumber:2016956076 ©TheEditor(s)(ifapplicable)andTheAuthor(s)2017 Thisworkissubjecttocopyright.AllrightsaresolelyandexclusivelylicensedbythePublisher,whetherthe whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similarordissimilarmethodologynowknownorhereafterdeveloped. Theuseofgeneraldescriptivenames,registerednames,trademarks,servicemarks,etc.inthispublication doesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfromtherelevant protectivelawsandregulationsandthereforefreeforgeneraluse. Thepublisher,theauthorsand theeditorsaresafe toassumethattheadvice andinformationinthis book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained hereinorforanyerrorsoromissionsthatmayhavebeenmade. Printedonacid-freepaper ThisPalgraveMacmillanimprintispublishedbySpringerNature TheregisteredcompanyisSpringerInternationalPublishingAG Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland A(cid:1) To Benedek, ron, and Gyöngyi Contents 1 Introduction: The Changing Patterns of FDI 1 Balázs Szent-Iványi 2 Post-crisis Crossroads for FDI in CEE 23 Kálmán Kalotay 3 Czech FDI Performance: Between Global Value Chains and Domestic Reforms 51 Tereza De Castro and Pavel Hnát 4 Foreign Direct Investment in Slovakia: The Tatra Tiger Gone Tame? 77 ˇ o(cid:1) ˇ Martin Grancay and N ra Grancay 5 Latecomers May Be Admitted: Foreign Direct Investment Between the CEE Countries 99 Magdolna Sass vii viii Contents 6 Upgrading and Value Capture in Global Value Chains in Hungary: More Complex than What the Smile Curve Suggests 127 Andrea Szalavetz 7 Inequalities of Accumulation: The Case of Central and Eastern Europe 151 Annamaria Artner 8 Multinational Banks: Protective Factors of Financial Stability in Central and Eastern Europe? 171 Gábor Kutasi 9 Investment Promotion in the Visegrad Countries: A Comparative Analysis 193 A(cid:1) ő A(cid:1) A(cid:1) gnes T rös, dám Me´száros, and kos Dani 10 Competitiveness and Investment Promotion in Bulgaria and Romania 219 Sorin Gabriel Anton 11 Conclusions: Prospects for FDI-Led Development in a Post-crisis World 241 Balázs Szent-Iványi Index 259 Notes on Contributors SorinGabrielAnton isAssociateProfessorofFinanceatAlexandruIoanCuza University of Iasi, Romania. His research interests are in the fields of interna- tionalfinance,financialriskmanagement,andcorporatefinance. AnnamáriaArtner isaseniorresearchfellowattheInstituteofWorldEconom- ics, Centre for Economic and Regional Studies of the Hungarian Academy of Sciences, Budapest, Hungary. Her main research interests are labour markets, crises,andtheglobalaccumulationofcapital. TerezaDeCastro isLecturerinGlobalEconomyandDevelopmentEconomics at the Faculty of International Relations, University of Economics, Prague, Czech Republic. She specializes in trade and investment relations between EuropeandtheBRICScountries. ÁkosDani isaPhDcandidateatCorvinusUniversityBudapest,Hungary.His mainresearchareaistheinternationalmonetarysystem. MartinGrančay istheDirectoroftheProjectCenterattheFacultyofChemical and Food Technology at the Slovak University of Technology in Bratislava, Slovakia, and an independent researcher. His work focuses primarily on gravity modelsoftradeandtheeconomicsofinternationalcivilaviation. Nóra Grančay is an independent researcher. She holds a PhD degree from the UniversityofEconomicsinBratislava,Slovakia. ix x NotesonContributors PavelHnát isAssociateProfessorofWorldEconomyandEuropeanIntegration at the Faculty of International Relations, University of Economics, Prague, CzechRepublic.HislatestmonographexaminesthePoliticalEconomyofGlobal Imbalances. KálmánKalotay isanEconomicAffairsOfficerattheUnitedNationsConfer- ence on Trade and Development (UNCTAD) in Geneva, Switzerland, and HonoraryProfessorofCorvinusUniversityBudapest,Hungary. Gábor Kutasi is an associate professor at the Institute of World Economy, CorvinusUniversityBudapest,Hungary. ÁdámMészáros isanassistantprofessorattheInternationalBusinessResearch Centre,CorvinusUniversityBudapest,Hungary.Hismainresearchinterestsare foreigndirectinvestmentandresearch,development,andinnovationpolicy. Magdolna Sass is a senior research fellow at the Centre for Economic and Regional Studies of the Hungarian Academy of Sciences, Budapest, Hungary. Her main research areas are international trade, foreign direct investments, and relatedpolicies,withspecialattentiontotheEastCentralEuropeanregion. Andrea Szalavetz is a senior research fellow at the Centre for Economic and Regional Studies of the Hungarian Academy of Sciences, MTA MRTK, Buda- pest, Hungary. Her research areas are global value chains and international business. Balázs Szent-Iványi is Lecturer in Politics and International Relations at the AstonCentreforEurope,AstonUniversity,Birmingham,UK.Healsoholdsan associate professor position at the Institute of World Economy, Corvinus Uni- versity Budapest, Hungary. His work focuses on international development politicsandtherelationsbetweenmultinationalcorporationsandthestate. Ágnes To˝rös is an economic analyst, who received her PhD degree from Corvinus University Budapest. She gathered professional experience in govern- mental institutions and spent several years in positions dedicated to investment promotion.
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