Foreign Capital Flows as Factors of Economic Growth in Bulgaria, Czech Republic, Hungary and Poland

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dc.contributor.authorRodionova, Tetiana
dc.contributor.authorYakubovskyi, Serhii O.
dc.contributor.authorKyfak, Andrii O.
dc.contributor.authorЯкубовський, Сергій Олексійович
dc.contributor.authorЯкубовский, Сергей Алексеевич
dc.date.accessioned2020-04-04T09:20:46Z
dc.date.available2020-04-04T09:20:46Z
dc.date.issued2019
dc.description.abstractWhile foreign investment is generally associated with economic growth, it can also pose significant risks to the economies of the recipient countries. An empirical study is carried out to test the causality between various forms of capital inflows and economic growth of four emerging market countries of Central and Eastern Europe: Bulgaria, the Czech Republic, Hungary and Poland. Using the vector autoregression framework it is found that prior to the crisis events in the world economy and euro area capital inflows, especially foreign direct investment, played significant role in boosting economic growth. However, afterwards there is no evidence of such impact and the reverse trend is observed: now economic growth is the factor driving capital inflows, again, mainly direct investments, to the countries. Also, as a result of the steady increase in value of the accumulated assets possessed by foreign investors in national economies negative effects of attracting foreign capital could be observed, which take the form of high volumes of repatriated profits, exceeding received investment and posing new threats for national economies.uk_UA
dc.identifierURL: https://doi.org/10.5430/rwe.v10n4p48
dc.identifierdoi:10.5430/rwe.v10n4p48
dc.identifier.citationResearch in World Economyuk_UA
dc.identifier.urihttps://dspace.onu.edu.ua/handle/123456789/27808
dc.language.isoenuk_UA
dc.relation.ispartofseries;Vol. 10, № 4; special Issue.
dc.subjectcapital flowsuk_UA
dc.subjecteconomic growthuk_UA
dc.subjectbalance of paymentsuk_UA
dc.subjectemerging marketsuk_UA
dc.subjectvector autoregression (VAR)uk_UA
dc.titleForeign Capital Flows as Factors of Economic Growth in Bulgaria, Czech Republic, Hungary and Polanduk_UA
dc.typeArticleuk_UA
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