National economy investmentattr activeness: a bibliographican alysis

Authors

  • Bogdan Moskalenko Sumy State University
  • Oleksandr Borovik Sumy State University
  • Yaroslav Reshetniak Sumy State University

DOI:

https://doi.org/10.35774/visnyk2020.02.062

Keywords:

investments, foreign direct investment, investment potential, country investment potential evaluation, domestic economy

Abstract

Introduction. The problem of country investment attractiveness, and approaches to its evaluation have been thoroughly debated over few last decades. Attracting of foreign direct investment (FDI) that is dedicated to creation of new jobs and added value in Ukraine, is relevant since independence declaration in 1991 and until now. It is believed, Ukrainian economy has unlimited investment potential, and reasonable high level of investment attractiveness, based on its geographical location and existing natural resources. Apparently, based on open access data, Ukraine has one of the worst in Europe FDI and GDP dynamic. Thus, the fundamental studies considering concept of “country investment potential” is highly relevant due to current macroeconomic condition in Ukraine. Within this work, authors researched recent studies of investment attractiveness evaluation around the world, and assumed their common principles.

purpose of the research is to review most recent publications around the world on country investment potential evaluation topic.

Results.The authors researched current relevant publications in journals which are indexed by international research databases. The analysis has shown that vast majority of current studies are connected to emerging market economies such as China and India. Among those papers, the most common approach to evaluate country’s investment attractiveness was usage of statistical methods. It allows considering a reasonably significant number of independent variables. Based on UNCTAD data [1], emerging economies show the best dynamic data related to GDP growth, and FDI inflows and outflows within last decade. According to abovementioned, the authors focused the research related to developing countries.

Prospects. The Future researches could be long-term promising within the direction of country investment potential evaluation, taking into consideration socio-cultural determinants of specific countries in relevant statistical models.

References

United Nations Conference On Trade And Development (UNCTAD). (2018). World Investment Report: Reforming International Investment Governance. UnitedNationsPublications: Geneva

Fedonin O.S., Rjepina I.M., Oleksjuk O.I. Potencialpidpryjemstva: formuvannjataocinka: navch. posibnyk. — K.: KNEU. — 2003. — 316 s.

Vasyljjeva T.A. InvestycijnyjrynokUkrajiny: problemytaperspektyvyrozvytku

/ T.A. Vasyljjeva, S.V. Ljeonov, O.V. Makarjuk // Ekonomichnyjprostir : zbirnyknaukovykhpracj. – # 28/1. – Dnipropetrovsjk : PDABA, 2009. – S. 77–85.

Ljeonov S. V. Sutnisnyjanalizinvestycijnoghorynkutajoghoroli u funkcionuvanniek onomichnojisystemy / T.A. Vasyljjeva, S.V. Ljeonov, O.V. Makarjuk // VisnykKhar kivsjkoghonacionaljnoghotekhnichnoghouniversytetusiljsjkoghoghospodarstva : Ekonomichninauky. Vypusk 85. – Kharkiv : KhNTUSGh. – 2009. – S. 16–22.

Kazmi, S. A. Z., Naaranoja, M., &Kantola, J. (2016). ReviewingPakistan’sInvest mentPotentialasaForeignInvestor. Procedia - SocialandBehavioralSciences, 235, 611–617.

Chub, B. A. Ocenkaynvestycyonnoghopotencyalasubъektovrossyjskoj

эkonomykynamezourovne [Tekst] / red. V. V. Banduryna. – M. : BUKVYCA, 2001.

– 227 s.

Hoshi, T., & Kiyota, K. (2019). Potential for Inward Foreign Direct Investment in Japan. JournaloftheJapaneseandInternationalEconomies, vol. 52, P. 32-52.

Dikova, D., &Brouthers, K. (2016). International establishment mode choice: Past, present, and future. ManagementInternationalReview, 56(4), 489-530.

Ambos, T, C. Asakawa, K., & Ambos, B. (2011). A dynamic perspective on Subsidiary Autonomy. GlobalStrategyJournal, 1(3-4), 301-306.

Hertenstein, P., Sutherland, D., & Anderson, J. (2017). Internationalization within networks: Exploring the relationship between inward and outward FDI in China’ s auto components industry. AsiaPacificJournalofManagement, 34(1), 69–96.

Meyer, K. E., & Nguyen, H. V. (2005). Foreign investment strategies and sub-national institutions in emerging markets: Evidence from Vietnam. JournalofManagementStudies, 42(1), 63–93.

Görg, H., and E. Strobl. (2001). Multinational Companies and Productivity Spillovers: A MetaAnalysis with a Test for Publication Bias, The Economic Journal 111 (November), p. 723-739

Chudnovsky, D. and A. Lopez (2002): The literature on environmental practices of TNCs, in Hansen, M.W. ed. 2002. Managing the environment across borders: A study of TNC affiliate’s environmental practices in China, Malaysia and India, Copenhagen: Samfundslitteratur.

Paul, J., & Benito, G. R. G. (2017). A review of research on outward foreign direct investment from emerging countries, including China: what do we know, how do we know and where should we be heading?AsiaPacificBusinessReview, 24(1), 90–115.

Kinoshita, Y., & Campos, N. F. (2004). Estimating the Determinants of Foreign Direct Investment Inflows: How important are sampling and omitted variable biases?, September 2007. Retrieved from https://papers.ssrn.com/sol3/papers. cfm?abstract_id=1015209

Jushhenko N. Formuvannja i naslidkyderzhavno-oligharkhichnojimodelirozvytkuU krajiny [Elektronnyjresurs] / NadijaJushhenko // Socialjno-ekonomichniproblemy i derzhava. — 2018. — Vyp. 1 (18). — S. 166-174. — Rezhymdostupudozhurn.: http://sepd.tntu.edu.ua/images/stories/pdf/2018/18ynkmru.pdf.

MultinationalEnterprisesandtheGlobalEconomy, 2nd ed., John H. Dunning, Sarianna M. LundanEdwardElgar, Cheltenham, UK (2008).

InvestycijnyjpotencialbankivsjkojisystemyUkrajiny [Tekst] :monoghrafija / S. V. Ljeonov. – Sumy : DVNZ “UABSNBU”, 2009. – 375 s.

Mathews, J. A. (2006). Dragon multinationals: New players in 21st century globalization. AsiaPacificJournalofManagement, 23(1), 5–27.

Hobdari, B., Gammeltoft, P., Li, J. et al. (2017). The home country of the MNE: The case of emerging economy firms. AsiaPacificJournalofManagementvol. 34, 1–17.

Ge G.L., Ding D.Z. (2009) The Effects of the Institutional Environment on the Internationalization of Chinese Firms.China Rules (pp. 46-68). London: Palgrave Macmilla.

Ghemawat, P. (2003). Semiglobalization and international business strategy. Journ alofInternationalBusinessStudies, 34(2), 138–152.

Chakraborty, C., &Basu, P. (2002). Foreign direct investment and growth in India: A cointegration approach. AppliedEconomics, 34(1), 1061–1073.

Baharumshah, A. Z., &Thanoon, M. A. (2006). Foreign capital flows and economic growth in East Asian countries. ChinaEconomicReview, 17(1), 70–83.

Blonigen, B. A., &Piger, J. (2014). Determinants of foreign direct investment. CanadianJournalofEconomics, 47(3), 775–812

Galan, J. I., & Gonzalez-Benito, J. (2006). Distinctive determinant factors of Spanish foreign direct investment in Latin America. JournalofWorldBusiness, 41(2), 171– 189.

Ramamurti, R., &Doh, J. (2004). Rethinking foreign infrastructure investment in developing countries. JournalofWorldBusiness, 39(2), 151–167.

Gaur, A. S., Ma, X., & Ding, Z. (2018). Home country supportiveness/unfavorableness and outward foreign direct investment from China. JournalofInternationalBusiness Studies, 49(3), 324–345.

Kearney, C. (2012). Emerging markets research: Trends, issues, and future directions. EmergingMarketsReview, 13(2), 159–183.

Cuervo-Cazurra, A., Inkpen, A., Musacchio, A., & Ramaswamy, K. (2014). Governments as owners: State-owned multinational companies. Journal of International Business Studies, 45(8), 919–942.

Xia, J., X. Ma, J.W Lu, and D. W. Yiu. (2014). “Outward Foreign Direct Investment by Emerging Market Firms: A Resource Dependence Logic.” StrategicManagementJournal 35 (9): 1343–1363.

Hu, H. W., and L. Cui. (2014). “Outward Foreign Direct Investment of Publicly Listed Firms from China: A Corporate Governance Perspective.” InternationalBusinessReview 23 (4): 750–760

Ali, U., Shan, W., Wang, J. J., & Amin, A. (2018). Outward foreign direct investment and economic growth in China: Evidence from asymmetric ARDL approach. Journa lofBusinessEconomicsandManagement, 19(5), 706–721.

Buckley, P. J., L. J. Clegg, A. R. Cross, X. Liu, H. Voss, and P. Zheng. (2007). “The Determinants of Chinese Outward Foreign Direct Investment.” Journal of International Business Studies 38 (4): 499–518.

Chung, C. C., Xiao, S. S., Lee, J. Y., & Kang, J. (2016). The interplay of top-down institutional pressures and bottom-up responses of transition economy firms on FDI entry mode choices. ManagementInternationalReview: 1–34.

Herzer, D. (2011). “The Long-Run Effect of Outward FDI on Domestic Output in Developing Countries.” AppliedEconomicLetters 81 (4): 1355–1358.

Huang, X., and C. Renyong. (2014). “Chinese Private Firms’ Outward Foreign Direct Investment: Does Firm Ownership and Size Matter?” ThunderbirdInternation alBusinessReview 56 (5): 393–406.

Lyles, M., D. Li, and H. Yan. (2014). “Chinese Outward FDI Performance: The Role of Learning.” ManagementandOrganizationReview 10 (3): 411–437.

Drogendijk, R., and O. Martín Martín. 2015. “Relevant Dimensions and Contextual Weights of Distance in International Business Decisions: Evidence from Spanish and Chinese Outward FDI.” InternationalBusinessReview 24 (1): 133–147.

Wei, Y., Zheng, N., Liu, X., & Lu, J. (2014). Expanding to outward foreign direct investment or not? A multi-dimensional analysis of entry mode transformation of Chinese private exporting firms. InternationalBusinessReview, 23(2), 356–370.

Lee, I. H., & Rugman, A. M. (2012). Firm-specific advantages, inward FDI origins, and performance of multinational enterprises. JournalofInternationalManagement, 18(2), 132–146.

Goh, S. K., Wong, K. N., &Tham, S. Y. (2013). Trade linkages of inward and outward FDI: Evidence from Malaysia. EconomicModelling, 35, 224–230.

Villaverde, J., &Maza, A. (2012). Foreign direct investment in Spain: Regional distribution and determinants. InternationalBusinessReview, 21(4), 722–733.

Delevic, U., & Heim, I. (2017). Institutions in transition: Is the EU integration process relevant for inward FDI in transition European economies? EurasianJournalofEcon omicsandFinance, 5(1), 16–32.

Published

2020-11-13

Issue

Section

NATIONAL AND REGIONAL ECONOMY

How to Cite

Moskalenko, Bogdan, et al. “National Economy Investmentattr Activeness: A Bibliographican Alysis”. Herald of Economics, no. 2(96), Nov. 2020, pp. 62-75, https://doi.org/10.35774/visnyk2020.02.062.

Similar Articles

1-10 of 328

You may also start an advanced similarity search for this article.