UTICAJ STRANIH DIREKTNIH INVESTICIJA NA EKONOMSKI RAST U EVROPSKOJ UNIJI. (Bosnian)

IMPACT OF FOREIGN DIRECT INVESTMENTS ON ECONOMIC GROWTH IN THE EUROPEAN UNION. (English)

Investments represent a factor of economic growth and development, regardless of their internal or external origin. Foreign Direct Investments (FDI) represent a constituent of the total investments, meaning that they have a certain impact on economic growth. The motives of investors in capital transfers to other countries are numerous, causing worldwide foreign direct investment to continuously increase. Such trends are periodically threatened by instability periods on a global scale. Most of the world economies are open to the inflow and to the outflow of investments into other countries. The economy of the European Union is the world's leading economy with the highest level of transparency for both import and export of capital. The starting hypothesis of this paper is the evidence of correlation between foreign direct investment and gross domestic product growth. For the total period analyzed from year 2004 to 2012 there was a minor but a positive correlation (r=0.183), which to a certain extent proves the hypothesis about the FDI impact on economic growth. The correlation indicates a certain, but not a significant contribution of FDI to economic growth. Analyses per sub-periods confirm the hypothesis, for during a stable sub-period from year 2004 to 2007 a strong and positive correlation was made (r1=0.992), indicating a significant contribution of foreign direct investment to the growth, while the economically unstable period is characterized by negative and insignificant correlation between foreign direct investment and GDP growth (r2=0.237). It has been proven that the trends of the values analyzed are identical to the macroeconomic theories and relevant economic practice. [ABSTRACT FROM AUTHOR]

Investicije su faktor ekonomskog rasta i razvoja bez obzira na njihovo unutrašnje ili eksterno porijeklo. Strane direktne investicije su konstituent ukupnih investicija, što znači da i one imaju uticaj na ekonomski rast. Motivi investitora za transfere kapitala u druge zemlje su brojni, pa strane direktne investicije u svijetu kontinuirano rastu. Ove trendove povremeno ugrožavaju periodi nestabilnosti na globalnom nivou. Većina svjetskih ekonomija je otvorena za priliv, ali i odliv investicija u druge zemlje. Ekonomija Evropske unije je vodeća svjetska privreda sa najvišim stepenom otvorenosti kako za uvoz tako i za izvoz kapitala. Polazna hipoteza rada je dokaz o korelativnoj vezi stranih direktnih investicija i rasta bruto domaćeg proizvoda. Za ukupno analizirani period od 2004. do 2012. godine utvrđena je zanemarljiva, ali pozitivna korelacija (r=0,183), što samo u određenoj mjeri dokazuje hipotezu o uticaju stranih direktnih investicija na rast. Korelacija ukazuje na određeni, ali ne značajan i veći doprinos stranih direktnih investicija ekonomskom rastu. Analize po subperiodima potvrđuju hipotezu, jer je u stabilnom subperiodu od 2004. do 2007. godine ostvarena jaka i pozitivna korelativna veza (r1=0,992), što ukazuje na značajan doprinos stranih direktnih investicija rastu, dok ekonomski nestabilan period karakteriše negativna i zanemarljiva korelaciona veza između stranih direktnih investicija i rasta BDP/GDP (r2=-0,237). Dokazano je da su kretanja analiziranih veličina identična sa makroekonomskim teorijama i relevantnom ekonomskom praksom. [ABSTRACT FROM AUTHOR]

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