Abstract
For the vast majority of countries, creating a favorable investment environment, which determines the possibility of attracting foreign capital, is a prerequisite for economic growth, addressing issues of national interests and a sufficient level of economic security. The presented article aims to assess the development of international investment activities to ensure countries’ investment security as components of economic security. Using multidimensional evaluation methods, construction of complex indicators, methods of statistical grouping, measurement of stochastic relationships, the integrated level of investment security of Central and Eastern European countries is determined. The assessment results showed that such countries as Estonia, the Czech Republic, Latvia, Poland, Hungary, and Romania have the highest level of investment security and are among the countries that have strengthened their investment security positions over the period. The countries’ evaluation shows that 46% of the countries surveyed were classified as countries with a safe level of investment development. According to the results of correlation analysis, it was determined that the Investment Security Index is more correlated with the state of the investment climate of the country; in the group of Central and Eastern European countries, there is a close correlation with the level of investment attractiveness, which means that for these countries, macroeconomic stability and stable dynamics of socio-economic growth are the factors determining investment opportunities. The obtained results should be considered to identify the basic risks of the investment environment.
Highlights
In contemporary conditions of world economic development, the rapid growth of foreign investment turned out to be the most important factor and simultaneously resulted from globalization and strengthening of integration
According to the results of correlation analysis, it was determined that the Investment Security Index is more correlated with the state of the investment climate of the country; in the group of Central and Eastern European countries, there is a close correlation with the level of investment attractiveness, which means that for these countries, macroeconomic stability and stable dynamics of socio-economic growth are the factors determining investment opportunities
The article implements the level of investment security as an important component of economic security of countries based on the application of existing methods of multidimensional assessment, which revealed patterns of distribution of countries by investment security, classify countries by groups for equal security, compare positions and intensity of their change, systematize factors, forming the level of investment security
Summary
In contemporary conditions of world economic development, the rapid growth of foreign investment turned out to be the most important factor and simultaneously resulted from globalization and strengthening of integration. Valdez (2013), in their work “Introduction to global financial markets,” comprehensively in- The analysis of the impact of the economic crivestigated commercial and investment processes, sis on the flow of foreign direct investment in those on the markets of the develop- Central and Eastern Europe is paid attention ing countries. In Global Competitiveness Index (GCI), accordthe research of these features, the most significant ing to which an annual ranking of countries points are the key international ratings based on the in the world has been compiled by the World calculation of integrated indices, which in different Economic Forum since 1995. In 2014, FDI flows to these countries exceeded foreign capital flows to
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