Impact of Institutional Quality on Foreign Direct Investment Inflow: Evidence from Croatia

1. Abdella, A. B., Naghavi, N., Fah, B. C. (2017), “The Effect of Corruption, Trade Openness and Political Stability on Foreign Direct Investment: Empirical Evidence from BRIC Countries”, International Journal of Advanced and Applied Sciences, Vol. 5, No.3, pp. 32-38.10.21833/ijaas.2018.03.005Search in Google Scholar

2. Abed, G., Davoodi, H. (2000), “Corruption, Structural Reforms and Economic Performance in the Transition Economies”, working paper No.132, International Monetary Fund, Washington.10.2139/ssrn.879906Search in Google Scholar

3. Alguacil, M., Cuadros, A., Orts, V. (2011), „Inward FDI and Growth: The Role of Macroeconomic and Institutional Environment“, Journal of Policy Modelling, Vol. 33, No.3, pp. 481-496.10.1016/j.jpolmod.2010.12.004Search in Google Scholar

4. Arbatli, E. (2011), “Economic Policies and FDI Inflows to Emerging Market Economies”, working paper No.11/192, International Monetary Fund, Washington.10.5089/9781462306251.001Search in Google Scholar

5. Assunção, S., Forte, R., Teixeira, A. (2011), “Location Determinants of FDI: A Literature Review”, working paper No. 422, Faculdade de Economia Universidade do Porto, Porto.Search in Google Scholar

6. Baek, K., Qian, X. (2011), “An Analysis of Political Risks and the Flow of Foreign Direct Investment in Developing and Industrialized Economies”, Economics, Management and Financial Markets, Vol. 6, No.4, pp. 60–91.Search in Google Scholar

7. Bayar, Y., Alakbarov, N. (2016), “Corruption and Foreign Direct Investment Inflows in Emerging Market Economies”, Ecoforum Journal, Vol. 5, No.2, pp. 303-308.Search in Google Scholar

8. Bénassy-Quéré, A., Coupet, M., Mayer, T. (2007), “Institutional Determinants of Foreign Direct Investment”, World Economy, Vol. 30, No.5, pp. 764-782.10.1111/j.1467-9701.2007.01022.xSearch in Google Scholar

9. Bellos, S., Subasat, T. (2011), “Corruption and Foreign Direct Investment: A Panel Gravity Model Approach”, Bulletin of Economic Research, Vol. 64, No.4, pp. 565-574.10.1111/j.1467-8586.2010.00370.xSearch in Google Scholar

10. Botrić, V., Škuflić, L. (2006), “Main Determinants of Foreign Direct Investment in the Southeast European Countries”, Transition Studies Review, Vol. 13, No.2, pp. 359-377.10.1007/s11300-006-0110-3Search in Google Scholar

11. Brouthers, L. E., Gao, Y., McNicol, J. P. (2008), “Corruption and Market Attractiveness Influences on Different Types of FDI”, Strategic Management Journal, Vol. 29, No.6, pp. 673-680.10.1002/smj.669Search in Google Scholar

12. Busse, M., Hefeker, C. (2007), “Political Risk, Institution and Foreign Direct Investment, European Journal of Political Economy, Vol. 23, No.2, pp. 397–415.10.1016/j.ejpoleco.2006.02.003Search in Google Scholar

13. Busse, M., Nunnenkam, P., Spatareanu, M. (2011), “Foreign Direct Investment and Labour Rights: A Panel Analysis of Bilateral FDI Flows”, Applied Economics Letters, Vol. 18, pp. 149–152.10.1080/13504850903559500Search in Google Scholar

14. Crespo, N., Fontoura, M. P. (2007), “Determinant Factors of FDI Spillovers–What Do We Really Know?”, World Development, Vol. 35, No.3, pp. 410-425.10.1016/j.worlddev.2006.04.001Search in Google Scholar

15. Dasgupta, K. (2012), “Learning and Knowledge Diffusion in a Global Economy”, Journal of International Economics, Vol. 87, No.2, pp. 323-336.10.1016/j.jinteco.2011.11.012Search in Google Scholar

16. Derado, D. (2013), “Determinants of FDI in Transition Countries and Estimation of the Potential Level of Croatian FDI”, Financial Theory and Practice, Vol. 37, No.3, pp. 227-258.10.3326/fintp.37.3.1Search in Google Scholar

17. Doytch, N., Eren, M. (2012), “Institutional Determinants of Sectoral FDI in Eastern European and Central Asian Countries: The Role of Investment Climate and Democracy”, Emerging Markets Finance and Trade, Vol. 48, No.4, pp.14-32.10.2753/REE1540-496X4806S402Search in Google Scholar

18. Dunning, J. H. (1986), “Investment Development Cycle Revisited”, Weltwirtschaftliches Archiv, Vol. 122, pp. 667-677.10.1007/BF02707854Search in Google Scholar

19. Dunning, J. H. (1998), “Location and the Multinational Enterprise: A Neglected Factor?”, Journal of International Business Studies, Vol. 29, No.1, pp. 45-66.10.1057/palgrave.jibs.8490024Search in Google Scholar

20. Dunning, J. H., Lundan, S. M. (2008), “Institutions and the OLI paradigm of the Multinational Enterprise”, Asia Pacific Journal of Management, Vol. 25, No.4, pp. 573-593.10.1007/s10490-007-9074-zSearch in Google Scholar

21. Eicher, T. S., Helfman, L., Lenkoski, A. (2012), “Robust FDI Determinants: Bayesian Model Averaging in the Presence of Selection Bias”, Journal of Macroeconomics, Vol. 34, No.3, pp. 637-651.10.1016/j.jmacro.2012.01.010Search in Google Scholar

22. Franc, S. (2013), „Razvojni ciklus inozemnih izravnih neto ulaganja zemalja članica Europske unije („Foreign Direct Investment Development Cycle In European Union Member States“), Ekonomski vjesnik, Vol. 26, No.1, pp. 23-37.Search in Google Scholar

23. Gorodnichenko, Y., Svejnar, J., Terrell, K. (2014), “When Does FDI Have Positive Spillovers? Evidence from 17 Transition Market Economies”, Journal of Comparative Economics, Vol. 42, No.4, pp. 954-969.10.1016/j.jce.2014.08.003Search in Google Scholar

24. Helmy, H.E. (2013), “The Impact of Corruption on FDI: Is MENA an Exception?”, International Review of Applied Economics, Vol. 27, No.4, pp. 491-514.10.1080/02692171.2012.752445Search in Google Scholar

25. Holland, D., Sass, M., Banacek, V., Gronicki, M. (2000), “The Determinants and Impact of FDI in Central and Eastern Europe: A Comparison of Survey and Econometric Evidence”, Vol. 9, No.3, pp. 163-212.Search in Google Scholar

26. Jurčić, Lj., Barišić, A. (2018), „Foreign Direct Investment Effects: The Croatian Experience“, in Mašek Tonković, A., Crnković, B. (Ed.), 7th International Scientific Symposium Economy of Eastern Croatia - Vision and Growth, J.J. Strossmayer University of Osijek Faculty of Economics, Osijek, pp.1005-1013.Search in Google Scholar

27. Kahai, S. K. (2004), “Traditional and Non-Traditional Determinants of Foreign Direct Investment in Developing Countries”, Journal of Applied Business Research, Vol. 20, No.1, pp. 43-50.10.19030/jabr.v20i1.2194Search in Google Scholar

28. Kalotay, K. (2000), “Is the Sky the Limit? The Absorptive Capacity of Central Europe for FDI”, Transnational Corporations, Vol. 9, No.3, pp.138-163.Search in Google Scholar

29. Kaufmann, D., Kraay, A., Mastruzzi, M. (2005), “Governance Matters IV: Governance Indicators for 1996-2004”, policy research working paper No. 3630, World Bank, Washington, 1 June 2005.10.1596/1813-9450-3630Search in Google Scholar

30. Kaufmann, D., Kraay, A., Zoido-Lobaton, P. (1999), “Aggregating Governance Indicators”, policy research working paper No. 2195, World Bank, Washington, 31 October 1999.10.2139/ssrn.188548Search in Google Scholar

31. Kersan-Škabić, I. (2013), “Institutional development as a determinant of FDI attractiveness in Southeast Europe”, Društvena istraživanja: časopis za opća društvena pitanja, Vol. 22, No.2, pp. 215-235.10.5559/di.22.2.01Search in Google Scholar

32. Kersan-Škabić, I., Orlić, E. (2007), „Determinants of FDI Inflows in CEE and Western Balkan Countries (Is Accession to the EU Important for Attracting FDI?)“, Economic and Business Review for Central and South-Eastern Europe, Vol. 9, No.4, pp. 333-350.Search in Google Scholar

33. Litjobo, H. (2008), “FDI, Governance and Development The Case of Lesotho Emerging from the Periphery”, avaliable at https://core.ac.uk/download/pdf/39665852.pdf /(13 December 2018).Search in Google Scholar

34. Madr, M., Kouba, L. (2015), “Does the Political Environment Affect Inflows of Foreign Direct Investment? Evidence from Emerging Markets”, Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Vol. 63, No.6, pp. 2017-2026.10.11118/actaun201563062017Search in Google Scholar

35. Miloloža, H. (2015), “Differences Between Croatia and EU Candidate Countries: the CAGE Distance Framework”, Business Systems Research, Vol 6, No.2, pp. 52-27.10.1515/bsrj-2015-0011Search in Google Scholar

36. Mukherjee, A., Wang, L. F. S., Tsai, Y. (2011), “Governance and Foreign Direct Investment: Is There a Two-Way Relationship?”, available at https://www.nottingham.ac.uk/economics/documents/discussion-papers/11-02.pdf /(12 January 2019).Search in Google Scholar

37. Nguyen, H., Duysters, G., Patterson, J., Sander, H. (2009), “Foreign Direct Investments Absorptive Capacity Theory”, available at https://pdfs.semanticscholar.org/e874/090250c67484e6ffdbc5fd670a2c821f5832.pdf /(12 January 2019)Search in Google Scholar

38. OECD (2008), “Benchmark Definition of Foreign Direct Investment- 4^th Edition”, available at https://www.oecd.org/investment/fdibenchmarkdefinition.htm /(19 June 2019)Search in Google Scholar

39. OECD (2010), “FDI Regulatory Restrictiveness Index”, available at https://www.oecd.org/investment/fdiindex.htm /(27 February 2019)Search in Google Scholar

40. Peres, M., Waqar A., Xu, H. (2018), “The impact of institutional quality on Foreign Direct Investment Inflows: Evidence for Developed and Developing Countries”, Economic Research-Ekonomska Istraživanja, Vol. 31, No.1, pp. 626-644.10.1080/1331677X.2018.1438906Search in Google Scholar

41. Pournarakis, M., Varsakelis, N. C. (2002), “Foreign Direct Investment in Central and Eastern European Countries: Do Institutions Matter”, Transnational Corporations, Vol. 13, No.2, pp. 77-94.Search in Google Scholar

42. Saidi Y., Ochi A., Ghadri H. (2013), “Governance and FDI Attractiveness: Some Evidence from Developing and Developed Countries”, Global Journal of Management and Business Research Finance, Vol. 13, No.6, pp. 14-24.Search in Google Scholar

43. Staats, J. L., Biglaiser, G. (2012), “Foreign Direct Investment in Latin America: The Importance of Judicial Strength and Rule of Law”, International Studies Quarterly, Vol. 56, No.1, pp. 193–202.10.1111/j.1468-2478.2011.00690.xSearch in Google Scholar

44. The Vienna Institute for International Economic Studies - WIIW(2019), “WIIW FDI database”, available at https://data.wiiw.ac.at/ (27 February 2019)Search in Google Scholar

45. Tian, J., Corlett, A., Murray, R. (2017), “Will Political Stability Factors Influence FDI Inflow?” Economics World, Vol. 5, No.2, pp.138-145.10.17265/2328-7144/2017.02.006Search in Google Scholar

46. United Nations Conference on Trade and Development-UNCTAD (2018), “World Investment Report 2018”, available at https://unctadstat.unctad.org/EN/ (27 February 2019)Search in Google Scholar

47. World Bank (2019), “The Worldwide Governance Indicators (WGI) project”, available at https://info.worldbank.org/governance/wgi/#home /(27 February 2019)Search in Google Scholar

48. Yerrabati, S., Hawkes, D.D. (2016), “Institutions and Investment in the South and East Asia and Pacific Region: Evidence from Meta Analysis.” Economics Journal, Vol. 10. No. 11., pp. 1-49.10.5018/economics-ejournal.ja.2016-11Search in Google Scholar