It is often argued that the process of globalization has mainly favoured large-scale multinational companies which are able to organize their business efficiently within internal hierarchies. However, globalization has not only pushed cross-border intra-finn transactions but also other...

Foreign direct investment (FDI) is rightly considered as an engine in transforming Central and East European Countries (CEECs). Without massive inflows of capital, technology and management know-how a sustainable growth is unlikely to happen. Although governments in CEECs make more than air...

Economic theory suggests that multinationals have clear objectives when investing abroad. It lists a considerable number of factors which may influence the decision but it falls short of explaining them. The paper investigates how the most popular hypotheses presented in the literature perform...

The paper offers a vision of the future of cross-border activities between Germany and the Central and East European reform countries. It provides a comprehensive theoretical framework and it presents some stylized facts. It focuses on three prominent areas: trade in goods and services,...

Several studies have emphasized the links between trade reorientation and industrial restructuring in transition countries. In these studies trade has usually been considered as transactions among unrelated enterprises in different countries. However, an important and steadily growing share of...