Investment attractiveness of Central and Eastern European countries in the light of new locational advantages development


  • Elżbieta Jantoń-Drozdowska Adam Mickiewicz University in Poznań
  • Maria Majewska Adam Mickiewicz University in Poznań



investment attractiveness, Central and Eastern European countries


The aim of this work was to present the similarities between the components of competitiveness and investment attractiveness as two complementary categories, and to show the role of new locational advantages in determining the level of investment attractiveness of a country. Another objective of this paper was to provide a comparative analysis of Central and Eastern European countries in terms of their investment attractiveness. Thus this paper was organized as follows: the first part of the paper focused on a country?s competitiveness, and the traditional and new location advantages that determine its investment attractiveness in view of direct investment inflows in the light of M. Porter?s model of a diamond, an eclectic paradigm of J. H. Dunning and new growth theories. The second part presented the results of investment attractiveness analysis including selected countries of CEE in the years 1995-2013. Comparing the investment attractiveness of Central and Eastern European countries shows that a rather narrow group of countries attracts a greater amount of FDI, and many more countries have experienced a decline in FDI. Therefore, the research results allow for the conclusion that Central and Eastern Europe reduced its investment attractiveness over the past years. This means that the majority of Central and Eastern European countries are becoming less successful in attracting FDI, and therefore in shaping the environment in which foreign companies wish to conduct their business.


Download data is not yet available.


Budd, L., & Hirmis, A. K. (2004). Conceptual Framework for Regional Competitiveness. Regional Studies, 38(9). 42000292610.
Dimian, G. C., & Danciu, A. (2011). National and Regional Competitiveness in the Crisis Context. Successful Examples. Theoretical and Applied Economics, 18(11).
Dunning, J. H. (1995). Reapprasing the Eclectic Paradigm in an Age of Alliance Capitalism. Journal of International Business Studies, 26(3).
Dunning, J. H. (1998). Location and the multinational enterprise: a neglected factor. Journal of International Business Studies, 29(1).
Dunning, J. H. (2002). Global Capitalism at Bay? London: Routlege.
Dunning, J. H., & Lundan, S. M. (2008). Multinational Enterprise and the Global
Economy. Cornwall: Edward Elgar Publishing Limited.
European Commission (1999). Regional Policy and Cohesion, Sixth Periodic Report on the Social and Economic Situation and Development of the Regions of the European Union. SEC 66 final.
Hildebrandt, A., Nowicki, M., Susmarski P., Tarkowski, M., & Wandałowski M. (2013). The Investment Attractiveness of the Regions and the sub-regions of Poland 2013. In M. Nowicki (Ed.). Gdańsk: The Gdańsk Institute for Market Economics.
Jantoń-Drozdowska, E. (1998). Competitiveness of Poland?s Economy in View of its Integration with the European Union. In A. Zielińska-Głębocka, & A. Stępniak (Eds). EU Adjustment to Eastern Enlargement. Polish and European Perspective. Gdańsk: Fundacja Rozwoju Uniwersytetu Gdańskiego.
Jantoń-Drozdowska, E. (2009). Międzynarodowe stosunki gospodarcze. Poznań: Ars boni et aequi.
Jantoń?Drozdowska, E., Majewska, & M., Grala, J. (2002). Atrakcyjność inwestycyjna Polski w kontekście zagranicznych inwestycji bezpośrednich. Ruch Prawniczy, Ekonomiczny i Socjologiczny, 3.
Jantoń?Drozdrowska, E., & Majewska, M. (2002). Międzynarodowa konkurencyjność gospodarki a jej atrakcyjność dla inwestorów zagranicznych. Prace Naukowe Wyższej Szkoły Handlu i Rachunkowości w Poznaniu, 1.
Kitson, M., Martin, R., & Tyler, P. (2004). Regional competitiveness: an elusive yet key concept? Regional Studies, 38(9). 20 00320816.
Majewska M. (2005). Identyfikacja strategii wejścia przedsiębiorstwa na rynki zagraniczne. In E. Gołembska (Ed.). Logistyka w internacjonalizacji przedsiębiorstw Unii Europejskiej. Poznań: Wydawnictwo Akademii Ekonomicznej w Poznaniu.
Majewska-Bator, M. (2010). Rozwój endogenicznej przewagi w handlu międzynarodowym a proces zmniejszania luki technologicznej. Poznań: Wydawnictwo Naukowe Uniwersytetu im. A. Mickiewicza.
Majewska-Bator, M., & Jantoń-Drozdowska, E. (2007). International knowledge spillovers and the importance of human capital in this process: empirical research for Poland. In W. M. Grudzewski, I. Heiduk, S. Trzcieliński (Eds). Organizations in Changing Environment. Current Problems, Concepts and Methods of Management, Poznań: IEA Press.
Nezeys, B. (1993). La compétitivité international. Paris: Economica.
OECD (2014). OECD Economic Surveys: Poland 2014. OECD Better Policies for Better Lives, OECD Publishing.
Pierścionek, Z. (2011). Zarządzanie strategiczne w przedsiębiorstwach. Warszawa: Wydawnictwo Naukowe PWN.
Porter, M. (1980). Competitive Strategy. Techniques for Analyzing Industries and Competitors. Boston: Harvard Business School Press.
Porter, M. E. (1990). The Competitive Advantage of Nations. New York.
Porter, M. E. (1994). The role of location in competition. Journal of Economics of Business, 1(1).
Sachwald, F. (1994). Competitiveness and Competition: Which Theory of the Firm? In F. Sachwald, E. Elgar (Eds). European Integration and Competitiveness. Acquisitions and Alliances in Industry. Aldershoot.
Shenkar, O., & Lou, Z. (2004), International Business. Hoboken: John Willey and Sons.
UNCTAD (2008). World Investment Report 2008: Transnational Corporations and the Infrastructure Challenge. United Nations: New York and Geneva.
UNCTAD (2012). World Investment Report 2012: Towards a New Generation of Investment Policies. United Nations: New York and Geneva.
UNCTAD (2014). World Investment Report 2014: Investing in the SDGs: an Action Plan. United Nations: New York and Geneva.
UNCTADstat: (10.12.2014).
Ushakov, D. S. (2011). The Problems of Country?s Innovative Capacity and Investment Attractiveness Growth Synchronization. Research Journal of Business Management, 5(4).
WEF (2013). The Global Competitiveness Report 2013-2014. In K. Schwab (Ed.), Geneva: World Economic Forum.




How to Cite

Jantoń-Drozdowska, E., & Majewska, M. (2016). Investment attractiveness of Central and Eastern European countries in the light of new locational advantages development. Equilibrium. Quarterly Journal of Economics and Economic Policy, 11(1), 97–119.



Determinants of growth in European Union countries

Similar Articles

1 2 3 4 5 6 7 8 9 10 > >> 

You may also start an advanced similarity search for this article.