Dajana Ercegovac – Novi Sad School of Business, Vladimira Perića Valtera 4, Novi Sad, Serbia

Mirela Momčilović – Novi Sad School of Business, Vladimira Perića Valtera 4, Novi Sad, Serbia

Željko Račić – Novi Sad School of Business, Vladimira Perića Valtera 4, Novi Sad, Serbia

DOI: https://doi.org/10.31410/EMAN.S.P.2022.1

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6th International Scientific Conference – EMAN 2022 – Economics and Management: How to Cope With Disrupted Times, Ljubljana, Slovenia, March 24, 2022, SELECTED PAPERS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-58-5, ISSN 2683-4510


The focus of this paper is to test the relevance of chosen mac­roeconomic indicators and FDI net inflows on the economic growth stimu­lation in the sample of Emerging European Economies and sub-sample of Visegrad States in the period 1997-2017. This empirical research comprises from analysis of robust panel data modes on the total sample level and in the two analyzed sub-periods (before and after the Global Financial Crisis – GFC) with the use of a dummy variable for the Visegrad States. The results of robust estimations indicate that greater FDI net inflows are a relevant factor of economic growth on the total sample level and in the Visegrad States af­ter the GFC. Based on the empirical findings, the authors suggest that poli­cymakers in the Western Balkans should introduce the necessary promotion measures in order to attract greater FDI inflows and boost the economic de­velopment level.


FDI Inflows; Economic growth; Panel Data Analysis


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