Foreign Direct Investment and Joint Ventures in East-Central Europe: A Geographical Perspective

Abstract

Capital flows in the form of foreign direct investment (FDI) are becoming one of the major mechanisms of interaction between Western and East-Central Europe. The major objective in this paper is to assess the extent and distribution of FDI between Czechoslovakia (before its breakup), Hungary, and Poland at the beginning of 1992. A detailed examination of the new investment patterns is followed by an analysis of the capital flows by geographical origin of investors and sector of the economy. In addition, the political and economic reasons for emerging regional differences in terms of FDI are discussed. The conclusions are focused on possible scenarios for future FDI in the region and its importance in the European integration process. It is clear that the benefits of direct Western investment in the former Eastern Europe stretch well beyond narrowly defined economic interests.

Understanding the Strategic Motivations of Finnish Manufacturing FDIs in Emerging Asian Economies

“…Furthermore, marketing, management and production strategies are more easily and less expensively transferable to culturally close countries and thus can encourage investing firms to undertake MS and ES FDIs in a culturally close target country. The results coincide with findings of previous studies (eg Mikalak, 1992;Grosse and Trevino, 1996), indicating that investing firms prefer to undertake FDIs in culturally similar countries.…”

“…Bergholm and Jagren (1985) argue that Swedish firms have often made their first FDIs in other Nordic countries. In investigating FDI flows to Central and Eastern Europe, Mikalak (1992) suggests that inherent variations in language and culture dissuade potential investors, except in countries that have traditional ties with Central and Eastern Europe Likewise, Grosse and Trevino (1996: 152) conclude that those countries culturally dissimilar to the US and/or farther away tended to have less FDI into the US. Furthermore, the potential benefits realized from investment are generally higher in culturally familiar countries than in unfamiliar countries.…”

The Global Economy as Instituted Process: The Case of Central and Eastern Europe

“…Socialist command economies abolished property rights, so during the Communist period these countries were closed to what we today define as FDI flows. We should note that as part of their socialist reform, some countries, notably Hungary, Poland, and the former Yugoslavia, did allow for foreign firm registrations and joint ventures (Michalak 1993). Nevertheless, in terms of aggregate FDI flows, the presence of transnationals in state socialism was "negligible" (Lane 2004:39).…”

Türkiye’de doğrudan yabancı sermaye yatırımları ve bölgesel dağılışı

“…faktörler yapılan çalışmaların yönünde belirleyici olmuştur. 1990'larda Green (1990) ile başlayan çalışmalar ÓhUallachain ve Reid (1990Reid ( , 1992Reid ( , 1996, McNaughton (1992aMcNaughton ( , 1992b, Michalak (1993), Edgington (1994), Yeung (1994), Buckwalter (1995), Bagchi-Sen (1995), Green ve McNaughton (1995), Meyer ve Green (1996a, 1996b, Clarke ve Carter (1996), Tao ve Green (1997), Pavlinek (1998aPavlinek ( , 1998bPavlinek ( , 2002aPavlinek ( , 2002bPavlinek ( , 2002c, Li ve Yeung (1999), Edgington ve Hayter (2000), Meyer;McNaughton (2000), Burgess (2000), Aliberti ve Green (2000, Deichmann (2001), MacKinnon ve Phelps (2001a-2001b Coğrafyacılar bir taraftan ÇUŞ'ların ve onlara bağlı firmaların yatırım yaparken tercih ettikleri lokasyonları ya da onları çeken bölgesel, mekânsal ve lokasyonel belirleyiciler (determinant) ve bunların şekilsel (pattern) özelliklerini incelerlerken, diğer taraftan özellikle bir ülkenin imalat sanayinde dıştan (inward) gelen veya içten (outward) dışarıya giden yatırımların sanayide meydana getirdiği değişiklikleri incelemişlerdir. Bazıları ise Vernon (1966), Buckley ve Casson (1985) ile özellikle Dunning (1979Dunning ( , 1988Dunning ( , 1992Dunning ( , 1998 tarafından geliştirilen DYS yatırımları teorilerine, coğrafi/mekansal bir perspektif kazandıracak çalışmalarda bulunmuşlardır Türkiye'de DYS yatırımları ile ilgili ilk çalışmaların, özellikle yabancı sermayeli firmaların faaliyetlerinin yoğunlaştığı, konuya ilginin arttığı, tartışmaların ve eleştiri...…”