Abstract
The aim of this work was to present the similarities between the components of competitiveness and investment attractiveness as two complementary categories, and to show the role of new locational advantages in determining the level of investment attractiveness of a country. Another objective of this paper was to provide a comparative analysis of Central and Eastern European countries in terms of their investment attractiveness. Thus this paper was organized as follows: the first part of the paper focused on a country’s competitiveness, and the traditional and new location advantages that determine its investment attractiveness in view of direct investment inflows in the light of M. Porter’s model of a diamond, an eclectic paradigm of J. H. Dunning and new growth theories. The second part presented the results of investment attractiveness analysis including selected countries of CEE in the years 1995-2013. Comparing the investment attractiveness of Central and Eastern European countries shows that a rather narrow group of countries attracts a greater amount of FDI, and many more countries have experienced a decline in FDI. Therefore, the research results allow for the conclusion that Central and Eastern Europe reduced its investment attractiveness over the past years. This means that the majority of Central and Eastern European countries are becoming less successful in attracting FDI, and therefore in shaping the environment in which foreign companies wish to conduct their business.
Highlights
The aim of this work is to present the similarities between the components of competitiveness and investment attractiveness as two complementary categories, and to show the role of new locational advantages in determining the level of investment attractiveness of a country
Another objective of this paper is to provide a comparative analysis of Central and Eastern European countries in terms of their investment attractiveness
Research Results of Central and Eastern European Countries Investment Attractiveness In Table 1 the positions of researched countries are presented, according to calculated inward FDI attraction indexes obtained first in a group of 17 CEE economies and second in a ranking of 195 countries included in the study
Summary
The aim of this work is to present the similarities between the components of competitiveness and investment attractiveness as two complementary categories, and to show the role of new locational advantages in determining the level of investment attractiveness of a country. In the process of upgrading a country’s competitiveness, and its investment attractiveness, an increasing role is attributed to new locational advantages compared to the traditional determinants of foreign investment inflow, the assets of which constitute intellectual capital. Another objective of this paper is to provide a comparative analysis of Central and Eastern European countries in terms of their investment attractiveness. The source materials for analysis of investment attractiveness of CEE countries were data and indicators published by the United Nations Conference on Trade and Development (UNCTAD)
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