FOREIGN DIRECT INVESTMENTS IN THE EMERGING MARKETS IN CENTRAL AND EASTERN EUROPE AND THE FINANCIAL CRISIS

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  • TITLE: FOREIGN DIRECT INVESTMENTS IN THE EMERGING MARKETS IN CENTRAL AND EASTERN EUROPE AND THE FINANCIAL CRISIS
  • AUTHOR(S): D. Ganchev
  • ABSTRACT: Foreign direct investments (FDI) are the most important tool, through which economic players carry out the capital flows movement from North to South and from West to East. Basic bearers of these flows are the transnational corporations of the so called Strategic Triad – the USA, the European Union and Japan. They are exporters and at the same time recipients of capital flows. We should not also forget the role in attracting FDI played by the countries from BRIC (Brazil, Russia, India and China), which brought their economies to a rapid economic growth. The main purpose of this paper is to study some problems related to attracting FDI in the countries from Central and Eastern Europe in the period of transition to market economy and in terms of full membership in the European Union. The focus of our study are Poland, Hungary and the Czech Republic, which are undoubted leaders in attracting FDI, and also the two countries from the new wave of accession - Romania and Bulgaria. An attempt has been made to analyze the problems that foreign investors face in the first group of countries, as well as to highlight some problems of investment environment in Bulgaria - the positive and negative effects over the recent years. On the basis of this study, the trends of development of FDI in the countries of Central and Eastern Europe under the impact of globalization and the financial crisis have been outlined.
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