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Foreign Direct Investment Flows and IMF Lending Programs. New Empirical Evidence from CESEE Countries

Foreign Direct Investment Flows and IMF Lending Programs. New Empirical Evidence from CESEE... Abstract The aim of the paper it to assess the “catalytic effect” of IMF lending programs on foreign direct investment (FDI) flows to Central, Eastern and South-Eastern European (CESEE) countries during and after the latest global financial crisis. This paper provides new empirical evidence on this catalytic effect while controlling for banking stability. Our results show that IMF lending programs had a negative catalytic effect on FDI flows to emerging economies from CESEE over the period 1999-2013. Other key determinants of FDI flows to these countries are inflation, current account balance, level of education, and infrastructure. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Scientific Annals of Economics and Business de Gruyter

Foreign Direct Investment Flows and IMF Lending Programs. New Empirical Evidence from CESEE Countries

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Publisher
de Gruyter
Copyright
Copyright © 2016 by the
ISSN
2501-3165
eISSN
2501-3165
DOI
10.1515/saeb-2016-0124
Publisher site
See Article on Publisher Site

Abstract

Abstract The aim of the paper it to assess the “catalytic effect” of IMF lending programs on foreign direct investment (FDI) flows to Central, Eastern and South-Eastern European (CESEE) countries during and after the latest global financial crisis. This paper provides new empirical evidence on this catalytic effect while controlling for banking stability. Our results show that IMF lending programs had a negative catalytic effect on FDI flows to emerging economies from CESEE over the period 1999-2013. Other key determinants of FDI flows to these countries are inflation, current account balance, level of education, and infrastructure.

Journal

Scientific Annals of Economics and Businessde Gruyter

Published: Nov 1, 2016

References