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Olli-Pekka Hilmola

Estonia and Finland - Current Status, Future Demand, and Implications on Infrastructure Investments in Transportation Chain. In Publications of Estonian Maritime Academy , No. 4, 2007. 31. Karamysheva, Marina, Henttu, Ville & Hilmola, Olli-Pekka. (2013). Logistics of North-West Russia and Rail Baltica: Standpoints of Private Sector . Lappeenranta University of Technology, Department of Industrial Management. LUT Scientific and Expertise Publications. Research Report 3. 32. Ketels, Christian. (2012). State of the Region Report 2012

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Siniša Ostojić and Željka Unković

. Moran, H. T. and West, T. G. 2005. International Political Risk Management Looking to the Future , Washington D. C.: The World Bank. Moser, C., Nestmann, T. and Wedow, M. 2006. Political risk and Export Promotion: Evidence from Germany , Deutsche Bundesbank, University of Mainz: Deutsche Bank Research Frankfurt am Main Germany. Multilateral Investment Guarantee Agency, 2009. World Investment and Political Risk 2009 Multilateral Investment

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Witold Wiliński

, England: Addison Wesley Dunning J. H. and Narula R. (1996), Foreign Direct Investment and Governments , London and New York: Routledge Dunning J. H. and Narula, R. (2002), The Investment Development Path revisited , [in]: J. H. Dunning, Theories and Paradigms of International Business Activity. The Selected Essays of John H. Dunning, Volume 1, Cheltenham, UK and Northhampton, MA: Edward Elgar Eurostat (2009), Data in focus - Population and social conditions, European Communities

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Aneta Bobenič Hintošová and Zuzana Kubíková

References AITKEN, B. & HARRISON, A. (1999) Do domestic firms benefit from direct foreign investment? Evidence from Venezuela. The American Economic Review . 89 (3), pp. 605-617. DOI: 10.1257/aer.89.3.605 AKIMOVA, I. & SCHWÖDIAUER, G. (2004) Ownership structure, corporate governance and enterprise performance: empirical results from Ukraine. International Advances in Economic Research . 10 (1), pp. 28-42. AMOLD, J. M. & JAVORCIK, B.S. (2005) Gifted kids or pushy parents? Foreign acquisitions and plant performance in Indonesia. Development

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Alexey V. Kuznetsov and Anastasia A. Nevskaya

References Andreff, W., 2003: The newly emerging TNCs from economies in transition: a comparison with Third World outward FDI. In: Transnational Corporations, Vol. 12, Issue 2, pp. 73-118. Bank of Russia, 2016a: Russian Federation: Inward Foreign Direct Investment Positions by Geographical Allocation in 2009-2015, available from:, DoA: 15 June 2016. Bank of Russia, 2016b: Russian Federation: Outward Foreign Direct

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Balázs Sárvári and Anna Szeidovitz

), “China’s Shadow Foreign Policy: Parallel Structures Challenge the Established International Order,’Merics: China Monitor, no. 18, 28 October. Retrieved from: [accessed in October 2015] Huang, Y. (2015), “Don’t Let ‘One Belt, One Road’ Fall into the Trap of Japan’s Overseas Investments,” Zhongguo Gaige Wang, 10 February. Inotai, A. (2010), ‘Impact of the global crisis on trade relations between the European Union and China,’ in Hungarian

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Miroslav Šipikal

). Upgrading Local Economies in Central and Eastern Europe? The Role of Business Service Foreign Direct Investment in the Knowledge Economy, European Planning Studies, 19(9), 1581-1591. Kennel, S. J. (2007). Foreign Direct Investment and Local Linkages: An Empirical Investigation, Management International Review, 47(1), 51-77. Lambooy, J. G., Boschma, R.A. (2001). Evolutionary economics and regional policy. The Annals of Regional Science, 35, 113-131. Lengauer, L., Nussmüller, Tödtling, F. (2010). Innovation and Knowledge

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Dmytro B. Sokolovskyi and Olena V. Sokolovska

World Bank Rural Development Projects. Agriculture and Rural Development Discussion Paper, 27: The World Bank. Miguel, V. de, Garlappi, L. and Uppal, R. (2009). Optimal versus Naive Diversification: How Inefficient Is the 1/N Portfolio Strategy? The Review of Financial Studies, 22(5): 1915-1953, OECD (2007). Tax Effects on Foreign Direct Investment. Recent Evidence and Policy Analysis, OECD (2008). Tax Effects on Foreign Direct Investment. Policy Brief. OECD

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Rita Remeikiene and Ligita Gaspareniene


The topic of competitiveness is becoming increasingly significant in the context of modern economics. Considering intensive processes of globalisation alongside with competitive pressure amongst the countries, competitiveness has become a necessary condition for successful economic and social development of any country. Only by creating, enforcing and maintaining international competitiveness of the country, rapid economic growth during the long term is achievable. Amongst the other urgent issues, the European Union (further the EU) public policies are also focused on competitiveness. After the failure to implement the Lisbon strategy and become “the most dynamic and competitive knowledge-based economy”, the EU declared its new competitiveness aims in the long-term strategy Europe 2020. Promotion of competitiveness is one of the fundamental aims and priority directions of the EU structural policy. The EU structural support is engaged as one of the public policy measures to promote the competitiveness of the member-states. In this context, it is purposeful to research whether the structural support is used efficiently and whether it actually contributes to the implementation of the defined aims. Under the order of various Lithuanian institutions, numerous studies on the efficiency of the EU structural support have been carried out. Nevertheless, by analysing the impact of the EU structural support, insufficient attention has been paid to the aspect of competitiveness. Considering the fact that Lithuania has entered the third programming period 2014-2020, evaluation of the EU structural investment in the country has become even more topical - for successful implementation of the aims raised for this new period, the analysis of the previous results is relevant. This determined formulation of the research problem: what impact does the EU structural support have on the competitiveness of Lithuanian economics? The empirical research has revealed that the EU structural support has a positive impact on Lithuanian gross domestic product growth, promotes foreign direct investment, research and development expenditure and increases the number of operating entities during 2004-2014 period.

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Jelena Zvezdanović Lobanova, Davorin Kračun and Alenka Kavkler

: improving on the performance of the standard GMM estimator, IFS Working Paper (W00/12), The Institute for Fiscal Studies. Botrić, V., Bačić, K., & Slijepčević, S. (2015). FDI, trade and growth in the “late reformers” post transition. Paper presented at the International Finance and Banking Conference FIBA 2015. Curwin, K. D., & Mahutga, M. C. (2014). Foreign direct investment and economic growth: New evidence from post-socialist transition countries. Social Forces, 92(3), 1159-1187. Efendić