THE RELATIONSHIP AMONG THE INFLOW OF FOREIGN DIRECT INVESTMENTS, EXPORTS AND ECONOMIC GROWTH IN THE EU COUNTRIES // POVEZANOST PRILJEVA INOZEMNIH IZRAVNIH ULAGANJA, IZVOZA I EKONOMSKOG RASTA U ZEMLJAMA EUROPSKE UNIJE

Vlatka Bilas, Vedran Šupuković

Апстракт


The ever-increasing processes of globalization and regionalization are reflected in the greater volume of international trade and investments. As a result of the aforementioned, the shares of export and import of goods in the national product are increased considerably, while international investment and loans grow faster than the world’s trade. Stronger market liberalization on both regional and global levels, has contributed to the integration of the world market. The previously mentioned processes of globalization, regionalization, and liberalization of economic relationships are, in addition, reflected in the ever-increasing capital mobility. Most countries have recognized the importance of investments and export as means of achieving economic prosperity and have included subsidy programs into their national strategies. Investigation of the relationship between export and economic growth has an important place in the literature. A hypothesis on export-oriented growth, which assumes that export-driven policies contribute to economic growth, is now widely accepted. On the other hand, Foreign Direct Investments (FDI) have been recognized as one of the most stable forms of foreign capital inflow. Their role is even greater if we consider possible positive effects on the increase of competitiveness and economic growth of the recipient country. FDI inflows can have a positive impact on the development and accumulation of human capital, employment growth, and can be a source of technology overflow. However, it should be emphasized that the impact of foreign direct investments on economic growth and development depends on the country’s own level of development, economic and social conditions, the degree of technological development, country’s openness to trade and the level of complementarity or substitutability of FDI, as well as the domestic investments. The objective of this paper is to examine the correlation between export, the inflow of foreign direct investment and economic growth, measured by gross domestic product per capita, on a sample of the EU member countries (EU28). The member countries will be divided into two groups (EU15 and EU13) due to their heterogeneity, which hinders the establishment of uniform conclusions for all the member countries of integration. The conclusions of the research on the relationship between the observed variables can be useful in the process of making effective development policies and strategies.

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DOI: http://dx.doi.org/10.7251/EMC1702252V

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ISSN 2232- 8823          EISSN 2232-9633

UDK: 33

IZDAVAČ:
Panevropski univerzitet “APEIRON”
FAKULTET POSlOVNE EKONOMIJE
Pere Krece 13, 78102 Banja Luka, BiH/RS
www.apeiron-uni.eu

Odgovorno lice izdavača:
DARKO Uremović

Urednik izdavača:
ALEKSANDRA Vidović

Glavni i odgovorni urednik:
Zorka Grandov

Urednik:
SANEL Jakupović

Uređivački odbor / International members:

Prof. Dr. Esad Jakupovic, academic, Pan - European University Apeiron Banja Luka, Bosnia and Herzegovina
Prof. Dr. Zoran Avramovic, academic, Pan European University Apeiron Banja Luka, Bosnia and Herzegovina
Prof. Dr. Vuk Ognjanović, Faculty of Transportation, communications and logistics, Berane, Montenegro
Prof. Heri Bezić, Dean, Faculty of Economics, University of Rijeka, Croatia
Prof. Dr. Vinko Kandžija, Faculty of Economics, University of Rijeka, Croatia
Prof. Dr. Vlatka Bilas, University of Zagreb, Faculty of Economics, Croatia
Doc. Dr Anica Hunjet, University North, Varazdin, Croatia
Prof. Dr. Mirko Tripunovski, dean, FON University in Skopje, Macedonia
Prof. Dr. Bojan Rosi, Dean, Faculty of Logistics Celje, University of Maribor, Slovenia
Prof. Dr. Nenad Vunjak, Dean, Faculty of Economics in Subotica, University of Novi Sad, Serbia
Prof. Dr Slađana Barjaktarović - Rakocevic, Vice Dean, Faculty of Organizational Sciences (FON), Belgrade, Serbia
Prof. Dr. Kıymet Tunca Caliyurt, Trakya University Edirne, Turkey


Redakcijski odbor:

MARKO Laketa, Panevropski univerzitet Apeiron, BiH
ALEKSANDRA Vidović, Panevropski univerzitet Apeiron, BiH
DRAGAN Kolev, Panevropski univerzitet Apeiron, BiH
MAJA Đokić, Panevropski univerzitet Apeiron, BiH
JANA Aleksić, Panevropski univerzitet Apeiron, BiH
NINA Uremović, Panevropski univerzitet Apeiron, BiH
VANJA Sredojević, Panevropski univerzitet Apeiron, BiH
ŽIVANA Kljajić, Panevropski univerzitet Apeiron, BiH


Sekretar i tehnička podrška:
MARICA Banović

Lektor srpskog jezika:
TANJA Ančić

Lektor engleskog jezika:
STOJANKA Radić

Tehnički urednik:
SRETKO Bojić

Web dizajn:
SINIŠA Kljajić

Štampa:
Markos, Banja Luka

Tiraž:
300

Indexed in: LICENSE AGREEMENT, 3.22.12. EBSCO Publishing Inc., Current Abstracts
ip-science.thomsonreuters.com
ebscohost.com
indexcopernicus.com
citefactor.org/contact

scholar.google.com
doisrpska.nub.rs
crossref.org
road.issn.org
erihplus.nsd.no 

 

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