Impact Of The Foreign Direct Investment Inflow On The Export Growth Of The Visegrad Group Countries

Lomachynska, Iryna ^[2] ; Babenko, Vitalina ^[3] ; Yemets, Olha ^[1] ; Yakubovskiy, Sergey ^[4] ; Hryhorian, Robert ^[4]
1. [1] Vasyl Stefanyk Precarpathian National University
  
  Vasyl Stefanyk Precarpathian National University
  
  Ucrania
2. [2] Department of Economics and Entrepreneurship, Odessa I. I. Mechnikov National University, Ukraine
3. [3] International E-commerce and Hotel&Restaurant Business Department, V. N. Karazin Kharkiv National University, Ukraine
4. [4] Department of World Economy and International Economic Relations, Odessa I. I. Mechnikov National University, Ukraine
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Localización: Estudios de economía aplicada, ISSN 1133-3197, ISSN-e 1697-5731, Vol. 38, Nº. 4 (The Recent Economic Trends and their Impact on Marketing), 2020 (Ejemplar dedicado a: The Recent Economic Trends and their Impact on Marketing)
Idioma: inglés
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Resumen
- The inflow of foreign direct investment (FDI) is one of the key factors leading to the economic growth and the introduction of high technologies, job creation, advanced training of the workforce. The role of FDI in international competitiveness growth of countries of the Visegrad Group (Poland, Czech Republic, Slovakia, Hungary) is evaluated in the article. Results of the empirical estimations fully confirm the positive impact of FDI inflow on exports growth of all the Visegrad Group countries. Moreover, the structure of exports of goods has changed; the share of capital-intensive engineering products has grown. At the same time, the level of innovation development of national economies is still comparatively low in the region. The share of medium- and high-tech goods in the structure of national production is below the EU average. That`s why the further growth of the international competitiveness of the Visegrad Group countries as well as the positive impact of FDI on the structure and dynamics of their international trade can only be achieved if the transition to a knowledge-based economy of the countries will be continued, which will lead to the increase in the share of high-tech industries in the national production.