The Impact of Business Cycles on the Foreign Direct Investment Inflows to Poland

Rafał Warżała

DOI: http://dx.doi.org/10.12775/EQUIL.2014.009

Abstract


The core of this article is to study the impact of the last world economic crisis and world foreign direct investment fluctuations in the same period. The empirical study was based on data published by UNCTAD in annual reports, called World Investment Report. The research concerning the Polish economy was based on data of Polish National Bank. For measuring the relation between studied phenomena, the analysis of correlation was used, as well as the structure rate and the rate of growth. For the evolution of GDP fluctuations in Poland in the years 1990-2012, both the method of statistical analysis and the descriptive method were used. In the latest World Investment Report (WIR 2012) one can find the current world financial crisis involved in the drop of foreign direct investment flows. That was characteristic for the Polish economy, too. The main reasons for that are the descending investment capability of corporations, because of poorer profits level and higher costs of bank credits. The important argument for corporation investment slump is that the prospects of world economic growth are unfavourable.

Keywords


foreign direct investment; business cycle

Full Text:

PDF

References


Assessing the impact of the current financial and economic crisis on global FDI flows (2009), UNCTAD, New York and Geneva.

Bednarczyk J.L., Bukowski S.I., Misala J. (2009), Contemporary economic crisis. The causes, course and consequences, CeDeWu, Warsaw.

Calski P. (2003), Participation of foreign investors in the privatization of the Polish enterprises in the period 1990-2002 [in:] Karaszewski W. (ed.), Foreign Direct Investment in Poland, Nicolaus Copernicus University, Torun.

Drozdowicz-Biec M. (2012), Cycles and economic indicators, Poltext, Warsaw.

Karaszewski W. (2004), Foreign Direct Investment. Poland against the world, Dom Organizatora, Torun.

Rymarczyk J. (2004), Internationalization and globalization of the company, PWE, Warsaw.

World Investment Report 2012. Towards a new generation of investment policies (2012), UNCTAD, New York and Geneva.

World Investment Report 2011. Non-equity modes of international production and development (2011), UNCTAD, New York and Geneva.

World Investment Report 2010. Investing in a low-carbon economy (2010), UNCTAD, New York and Geneva.

World Investment Report 2009. Transnational Corporations, Agricultural Production and Development (2009), UNCTAD, New York and Geneva.

World Investment Report 2008. Transnational Corporations, and the Infrastructure Challenge (2008), UNCTAD, New York and Geneva.

World Investment Report 2007. Transnational Corporations, Extractive Industries and development (2007), UNCTAD, New York and Geneva.

World Investment Report 2006. FDI from Developing and Transition Economies: Implications for Development (2006), UNCTAD, New York and Geneva.

World Investment Report 2005. Transnational Corporations and the Internationalization of R&D (2005), UNCTAD, New York and Geneva.

World Investment Report 2004. The Shift Towards Services (2004), UNCTAD, New York and Geneva.

World Investment Report 2003. FDI Policies for Development: National and International Perspectives (2003), UNCTAD, New York and Geneva.

World Investment Report 2002. Transnational Corporations and Export Competitiveness (2002), UNCTAD, New York and Geneva.

World Investment Report 2001. Promoting linkages (2001), UNCTAD, New York and Geneva.

World Investment Report 2000. Cross-border Mergers and Acquisitions and Development (2000), UNCTAD, New York and Geneva.

www.nbp.pl/publikacje/ib_raporty/raport_ib_2011.pdf (14.03.2013).




Bookmark and Share




p-ISSN 1689-765X
e-ISSN 2353-3293

Partnerzy platformy czasopism