Work detail

Growth-Enhancing Mechanism in Transition Countries: Cooperative Effect of Foreign Direct Investment and Financial Development

Author: Mgr. Natalia Shilyaeva
Year: 2009 - summer
Leaders: Jiří Novák M.Sc., Ph.D., Deloitte Corporate Chair
Work type: Masters
Specialization - IMESS
Language: English
Pages: 133
Awards and prizes:
Abstract: Current research examines the interdependence between foreign direct investment (FDI), financial development and economic growth. The relationship between the variables in question is studied with reference to transition economies (28 former centrally planned economies). The period of observation covers the transition from centrally planned to market economies 1989-2007. The relationship is analysed using panel data regression models, factor analysis and cointegration tests. The paper suggests that FDI and financial development exert a complementary effect on economic growth, although the latter appears to be insignificant. At the same time, the research provides evidence that FDI is likely to compensate the underdevelopment of financial sector.
Downloadable: Diploma Thesis of Shilyaeva




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