Abstract
This article touches upon the institutional aspect of internationalization processes. It focuses on the role of formal institutions in pursuing foreign direct investment (FDI). By discussing and evaluating the current policy towards outgoing FDI (OFDI) in Poland, we seek to assess the significance of state support after 2008 global economic turmoil. Drawing on available literature and mainly expert survey as qualitative method, we exemplify some of the challenges involved in designing and implementing policy which aim at facilitating OFDI. Presented findings shall be seen as starting point for further more detailed research. * Research project, No. 11430010 Small Grants Program of the International Visegrad Fund „Outward FDI policies in Visegrad Countries”
Highlights
Whereas the inward foreign direct investment (FDI) with all its costs and benefits is well explored and recognized topic of economic literature, issues of outward FDI and in particular of policy assisting such process seem rather under-researched area
Institutional approach can offer theoretical framework enabling conceptualization of internationalization processes including its most advanced form namely outgoing FDI (OFDI). Such approach encompasses informal, unwritten institutions and formal ones consisting of rules, regulations, authorities all being cornerstone of policy pursued towards FDI
Fiscal system and financial incentives or technical support and agencies tasked with information provision designed and run with aim to shape the OFDI flows are such formal institutions
Summary
Whereas the inward FDI with all its costs and benefits is well explored and recognized topic of economic literature, issues of outward FDI and in particular of policy assisting such process seem rather under-researched area. As two representatives of the ARAW stated both SME and bigger firms take advantage of help offered Small companies, these in early stages of development, need assistance to crystallize, to get foothold, to gain critical mass enabling further steps venturing abroad. Low interest shown among companies to apply for guarantees and insurance at KUKE (Korporacja Ubezpieczeń Kredytów Eksportowych), which is highly dominated and skewed towards export assistance, can reflect high requirements, too tough to be met
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