The principal argument for subsidizing foreign investment, especially in developing andtransition economies, is the assumed spillover of technology to local firms. Yet researchersreport mixed results on spillovers. To examine the phenomenon in a systematic way, wecollected 3,626 estimates from...

Does FDI affect productivity growth, innovation, and knowledge sourcing activities ofdomestic firms? This study employs detailed firm-level panel-data from Estonia’smanufacturing sector to investigate different channels through which FDI can affectdomestic firms. I use instrumental variables...

We review a large body of literature dealing with the effects of Foreign Direct Investment(FDI) on economies during their transformation from a command economic systemtoward a market system. We report the results of a meta-analysis based on the literatureon externalities from FDI. The studies on...

In this paper we examine the location determinants of the inflow of Foreign Direct Investment (FDI)into Poland, at a regional level. Using survey data from an online questionnaire in February 2005and a multinomial logit model incorporating the investor’s specific characteristics, we show...

We extend agency theory to propose that structural reform positively impacts firm profitability indeveloping countries because the improvements in external monitoring that accompany structuralreform decrease the agency costs faced by firms. However, we also argue that not all firmsbenefit...

The main objective of the following article is to present the key findings of the existent research in thefield of the influence the introduction of the euro had on the trade of the member states of the Economicand Monetary Union (EMU). The intention of this article is also to inspire further...

This paper analyses trade specialisation dynamics in two Eastern European countries(Romania and Bulgaria – EEC-2) vis-à-vis the core EU member states (EU-15) over theperiod 1990-2006. Specifically, we focus on whether there is a shift towards intra-industrytrade leading to economic...