Institutions and investment as growth drivers
Institutions and investment as growth drivers

Author(s): Jelena Zvezdanović Lobanova
Subject(s): Economy, National Economy, Supranational / Global Economy, Economic policy, Political economy, Economic development
Published by: Институт друштвених наука
Keywords: Foreign direct investment; globalization; Countries in transition; Serbia
Summary/Abstract: Foreign direct investment (FDI) is a key feature of globalization, whose notable rise is paralleled by advancements of technological innovations and the liberalization of global capital flows. FDI is commonly viewed as a prevalent mode of international capital movement that contributes to higher levels of economic growth and enables access to local and regional markets, while also enhancing competitive advantages of the recipient country. Considering the plentiful possible economic and social advantages of FDI inflows (job creation, increase in productivity, growth of export potential, rise in economic competitiveness, technology transfer, diversification of economy structure, infrastructure development, etc.), countries are engaged in intense competition on the global capital market to attract foreign investors, with the aim of promoting their economic and social welfare.

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