Series editor(s): Professor J. Jay Choi
Subject Area: Accounting and Finance
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|Title:||Foreign Direct Investment, Stock Exchange Development, And Economic Growth In Central And Eastern Europe|
|Author(s):||Yusaf H. Akbar, Heather Elms, Tej S. Dhakar|
|Volume:||6 Editor(s): Jonathan A. Batten, Colm Kearney ISBN: 978-0-76231-264-1 eISBN: 978-1-84950-381-5|
|Citation:||Yusaf H. Akbar, Heather Elms, Tej S. Dhakar (2006), Foreign Direct Investment, Stock Exchange Development, And Economic Growth In Central And Eastern Europe, in Jonathan A. Batten, Colm Kearney (ed.) Emerging European Financial Markets: Independence and Integration Post-Enlargement (International Finance Review, Volume 6), Emerald Group Publishing Limited, pp.461-472|
|DOI:||10.1016/S1569-3767(05)06018-8 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Article type:||Chapter Item|
We provide that examination here, and suggest the links between FDI, LSED, and FSEL in the development of these economies. The link we suggest is sequential, in that initial economic development is primarily associated with FDI. As opportunities for FDI decrease over time, however (primarily because of the lessening availability of potential acquisitions, but also given saturation in the greenfield arena), further economic development depends primarily on LSED and FSEL. Thus we propose a positive but non-monotonic relationship between FDI and economic development, a positive and monotonic relationship between LSED and economic development, and between FSEL and economic development, and a sequential association between these relationships.
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