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Full-Text Articles in Social and Behavioral Sciences
Macroeconomic Drivers, Governance, And Foreign Direct Investment In Central And Eastern European Countries (Ceecs), Parfait Bihkongnyuy Beri, Gabriel Mhonyera
Macroeconomic Drivers, Governance, And Foreign Direct Investment In Central And Eastern European Countries (Ceecs), Parfait Bihkongnyuy Beri, Gabriel Mhonyera
Economic and Business Review
Background and objective: The transition to market-oriented economies in CEECs entailed significant structural economic and institutional reforms. Over the past years, studies have investigated how these reforms affected foreign direct investment (FDI) inflows. However, the evidence remains debatable and varies across countries. This study provides new insights by considering the impact of macroeconomic factors, governance, and the moderating effect of governance on the macroeconomic drivers–FDI nexus.
Methods: A panel of 12 countries from 1991 to 2020 are analysed within the framework of conventional methods and Seemingly Unrelated Regression (SUR).
Results: Results robustly suggest that gross capital formation, macroeconomic stability, and …