Determinants of inward FDI in Ukraine: Does political stability matter?

Autor:	Oleg Gurshev, Andrzej Cieślik
Rok vydání:	2020
Předmět:	Macroeconomics p33 050208 finance HF5001-6182 pseudo-poisson maximum likelihood media_common.quotation_subject 05 social sciences foreign direct investment ukraine Foreign direct investment Autocracy Investment (macroeconomics) Democracy Politics political stability 0502 economics and business Economics Business Polity f23 050207 economics Political stability media_common Panel data
Zdroj:	International Journal of Management and Economics, Vol 56, Iss 3, Pp 243-254 (2020)
ISSN:	2299-9701
DOI:	10.2478/ijme-2020-0021
Popis:	The main goal of this article is to study the determinants of foreign direct investment (FDI) in Ukraine from 2013 to 2017 that includes the years of armed conflict. We adopt the Knowledge-Capital model as our analytical framework and extend it to include the effects that account for political stability and political regime. The research hypotheses obtained from this framework are verified using the Pseudo-Poisson Maximum Likelihood estimation technique and the bilateral panel data on direct investment stocks from 140 partner countries. Our empirical findings show that access to Ukraine's cheap labor force is the primary reason for inward FDI. Moreover, we find no direct relationship between the political events in Ukraine and the investment stock dynamics as the estimated parameters on the indices of democracy, autocracy, polity, and political stability show no statistical significance.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::ba65b033d0f39e30f2f359573f6ffec8 https://doi.org/10.2478/ijme-2020-0021 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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