FOREIGN DIRECT INVESTMENT IN EUROPE: A CHANGING LANDSCAPE; ED. BY KLAUS LIEBSCHER

This book provides authoritative academic and professional insights into the effects of foreign direct investment (FDI) on home and host countries. It highlights global trends and patterns, and explores related policy challenges all with a special focus on the countries in Central, Eastern and South-Eastern Europe. The book cuts through the existing data fog by offering a wide range of up-to-date academic findings and institutional expertise. Those findings are rounded off with lessons to be learned from historical developments (Ireland's success story), an evaluation of current trends (the role of China) and an investment promotion agency policy for attracting sustainable investment (CzechInvest). Contributions made by central bank officials, institutional representatives, members of academia and professionals provide for a uniquely complementary view on FDI developments and their implications.At a time of big changes in the FDI landscape, this book offers both empirical and econometric evidence on foreign direct investment and will be of great interest to economists and other experts in the fields of economic policy and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes. The special focus on FDI will attract those interested in, or directly involved in tackling the challenges of attracting sustainable investment or investing successfully abroad. Contents......Page 6 Contributors......Page 9 Preface......Page 11 Policy challenges of FDI......Page 16 The changing landscape of FDI in Europe......Page 18 FDI: a driver for and a result of private sector development......Page 23 The contribution of taxation to European competitiveness, growth and employment......Page 27 Who bears the risks of FDI financing? Selected views of the EIB......Page 34 Finance in transition: banks at the vanguard of foreign direct investors......Page 41 Economic and monetary challenges of euro area enlargement......Page 44 A special academic perspective on FDI......Page 50 Measuring the impacts of FDI in Central and Eastern Europe......Page 52 PART I Home and host country effects of FDI......Page 66 1. The role of FDI in transition......Page 68 2. Foreign direct investment spillovers in emerging market economies......Page 73 3. The role of FDI in Eastern Europe and New Independent States: new channels for the spillover effect......Page 91 4. Blessing or curse? An industry-level analysis of FDI effects on productivity and wages in CEECs......Page 102 5. How do FDI inflows affect the productivity of domestic firms? The role of horizontal and vertical spillovers, absorptive capacity and competition......Page 116 6. Home country spillovers of FDI: some results and discussion of estimation issues......Page 121 7. Effects of FDI on industry structure: a host country perspective......Page 134 PART II Where is FDI going? Global trends and patterns......Page 140 8. Why FDI? Re-inventing economic geography in times of globalization......Page 142 9. Recent FDI trends: implications for investment policy......Page 159 10. Trends in FDI: the Austrian perspective......Page 168 11. Is China’s FDI coming at the expense of other countries?......Page 179 12. FDI in services: recent developments and prospects in Europe......Page 190 13. Outward FDI from new European Union member states......Page 205 PART III How to attract sustainable investment: theory and practice......Page 220 14. The determinants of FDI in Central, Eastern and South- Eastern Europe: lessons from the past and prospects for the future......Page 222 15. How to make FDI in Central and Eastern European countries sustainable......Page 241 16. Does FDI help development? The good, the bad, the surprising and the mistaken. Policy issues for developed countries, developing countries and multilateral lending institutions......Page 252 17. The most FDI-intensive economy in Europe: analysis of the Irish experience and current policy issues......Page 262 18. Attracting sustainable FDI and building a knowledge-based economy: the case of CzechInvest......Page 273 Index......Page 282 The role of FDI in transition / Josef Christl É / Jan Svejnar The role of FDI in Eastern Europe and new independent states : new channels for the spillover effect / Irina Tytell and Ksenia Yudaeva Blessing or curse? An industry-level analysis of FDI effects on productivity and wages in CEECS / Jesus Crespo Cuaresma ... [et al.] How do FDI inflows affect the productivity of domestic firms? The role of horizontal and vertical spillovers, absorptive capacity and competition / Marcin Kolasa Home country spillovers of FDI : some results and discussion of estimation issues / Priit Vahter and Jaan Masso Effects of FDI on industry structure : a host-country perspective / Katja Zajc Kejar Why FDI? Re-inventing economic geography in times of globalization / Peter Mooslechner Recent FDI trends : implications for investment policy / Blanka Kalinova Trends in FDI : the Austrian perspective / Rene Dell'mour Is China's FDI coming at the expense of other countries? / Barry Eichengreen and Hui Tong FDI in services : recent developments and prospects in Europe / Arjan Lejour Outward FDI from new European Union member states / Marjan Svetlii and Andreja Jakli The determinants of FDI in Central, Eastern and South-eastern Europe : lessons from the past and prospects for the future / Laura Resmini How to make FDI in Central and Eastern European countries sustainable? / Christian Bellak and Markus Leibrecht Does FDI help? The good, the bad, the surprising and the mistaken. Policy issues for developed countries, developing countries and multilateral lending institutions / Theodore H. Moran The most FDI-intensive economy in Europe : the experience of Ireland / Frank Barry Attracting sustainable FDI and building a knowledge-based economy : the case of CzechInvest / Jakub Mikulasek. This Book Provides Authoritative Academic And Professional Insights Into The Effects Of Foreign Direct Investment (fdi) On Home And Host Countries. It Highlights Global Trends And Patterns, And Explores Related Policy Challenges All With A Special Focus On The Countries In Central, Eastern And South-eastern Europe. The Book Cuts Through The Existing Data Fog By Offering A Wide Range Of Up-to-date Academic Findings And Institutional Expertise. Those Findings Are Rounded Off With Lessons To Be Learned From Historical Developments (ireland S Success Story), An Evaluation Of Current Trends (the Role Of China) And An Investment Promotion Agency Policy For Attracting Sustainable Investment (czechinvest). Contributions Made By Central Bank Officials, Institutional Representatives, Members Of Academia And Professionals Provide For A Uniquely Complementary View On Fdi Developments And Their Implications. At A Time Of Big Changes In The Fdi Landscape, This Book Offers Both Empirical And Econometric Evidence On Foreign Direct Investment And Will Be Of Great Interest To Economists And Other Experts In The Fields Of Economic Policy And European Integration From Central, Commercial And Investment Banks, Governments, International Organizations, Universities And Research Institutes. The Special Focus On Fdi Will Attract Those Interested In, Or Directly Involved In Tackling The Challenges Of Attracting Sustainable Investment Or Investing Successfully Abroad. Provides academic and professional insights into the effects of foreign direct investment (FDI) on home and host countries. This book highlights global trends and patterns, and explores related policy challenges all with a focus on the countries in Central, Eastern and South-Eastern Europe