Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/318433 
Erscheinungsjahr: 
2025
Schriftenreihe/Nr.: 
wiiw Working Paper No. 261
Verlag: 
The Vienna Institute for International Economic Studies (wiiw), Vienna
Zusammenfassung: 
Foreign direct investment (FDI) is often seen as a means to boost domestic investment and, hence, capital accumulation. Yet, the empirical support for such a positive investment effect of FDI is inconclusive. A possible reason is that FDI is often directed towards the financial sector, where capital investment tends to be low. In this paper, we first explore the within-industry relationship between FDI and domestic investment. We then use a novel approach to analyse how FDI into the financial sector transmits into domestic investment by non-financial industries. Using industry-level FDI and investment data from 12 Central and Eastern European countries between 1997 and 2019, we find that about a quarter of FDI into an industry results in domestic investment. Additionally, we document that industries with close links to the financial sector increase domestic investment in the presence of financial FDI, particularly manufacturing, trade and real estate.
Schlagwörter: 
investment
capital formation
FDI
foreign direct investment
inter-industry linkages
JEL: 
F21
F3
E22
O11
Dokumentart: 
Working Paper

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