Work detail

Analysis of the Investment Development Path in the Central and Eastern European Countries: Can they move further?

Author: Mgr. Tomáš Paul
Year: 2014 - summer
Leaders: PhDr. Jakub Seidler Ph.D.
Consultants:
Work type: Finance, Financial Markets and Banking
Masters
Language: English
Pages: 77
Awards and prizes: M.A. with distinction from the Dean of the Faculty of Social Sciences for an excellent state-final examination performance.
Link: https://is.cuni.cz/webapps/zzp/detail/138178/
Abstract: The thesis analyses the investment development path (IDP) of CEE countries
and discusses their movement to its later stages, which is conditioned by in-
crease in outward foreign direct investment (FDI). Providing evidence on data
until 2012, it enables to test the impact of global nancial crisis on the validity
of IDP and the stages reached by particular CEE countries. Moreover, the thesis
explores the e ect of inward reinvestment of earnings on the ability to move
to later stages through the relationship with outward FDI, which has not been
tested in the literature yet. The thesis on a cross-sectional basis shows that:
a) CEE countries follow IDP; however, when using subsamples, it holds only for
more developed ones; b) contrary to literature before crisis, CEE countries did
not reach the third stage of IDP, which suggests that crisis could have caused
movement back along their IDP; c) reinvestment of earnings positively in
u-
ences outward FDI. According to the latter, countries with high reinvestment
of earnings and inward FDI stock are identi ed and is concluded that they are
likely to enter the third stage of IDP. However, further research is needed as
also other determinants are relevant for outward FDI, not only reinvestment of
earnings.
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