The Impact of FDI on the Economic Growth of Serbia

Authors

  • Miloš Parežanin University of Belgrade, Faculty of Organizational Sciences
  • Sandra Jednak University of Belgrade, Faculty of Organizational Sciences
  • Dragana Kragulj University of Belgrade, Faculty of Organizational Sciences

Keywords:

foreign direct investments, economic growth, gross domestic product, exports, imports, unemployment, the Republic of Serbia

Abstract

This paper analyzes the impact of foreign direct investment on the economic growth of the Republic of Serbia. The aim is to analyze the effects of the economic crisis on foreign direct investment impact on the economic performance of the Serbian economy. This paper analyzes the period of 2000 - 2014, using the Inward FDI Performance Index and Pearson’s coefficient of simple linear correlation. The period before the economic crises (2000-2007) and the period after the beginning of the economic crisis (2008-2014) are analyzed separately, in order to observe the linear correlation between FDI and economic growth. The results of the research speak in favor of the existence of a strong and statistically significant correlation between FDI and observed macroeconomic indicators in the period of 2000-2007. The second sub-period was characterized by an absence correlation between FDI inflows and all the observed macroeconomic indicators. The results for the period of 2008-2014 can be explained by the effects of the global crisis on the Serbian economy and the deterioration of all macroeconomic indicators in the given period. Effects of the crisis on the Serbian economy were very strong.

Author Biographies

Miloš Parežanin, University of Belgrade, Faculty of Organizational Sciences

Miloš Parežanin is employed at the Faculty of Organizational Sciences, University of Belgrade, Serbia, as a teaching assistant for the scientific areas of business economics and macroeconomics He graduated from the Faculty of Economics, University of Belgrade in 2009. Currently he is a Ph.D. candidate at the same faculty. Miloš Parežanin has participated in several scientific national and international conferences. His research interests include Foreign Direct Investment, Energy Economics, Competitiveness of the Economy, European Integration, Economic Development.

Sandra Jednak, University of Belgrade, Faculty of Organizational Sciences

Sandra Jednak is employed at the Faculty of Organizational Sciences, University of Belgrade as an assistant professor. She has published numerous scientific research papers in international and national monographs, journals and conference proceedings. Her teaching areas are Introduction to Economics, Macroeconomics, Microeconomics, Economic Development and the EU. Her research focus is on the economic growth and development of SEE countries. Besides, her research interests are Economics of ICT, Knowledge (Based) Economy, Energy Economics, International Economics and Higher Education.

Dragana Kragulj, University of Belgrade, Faculty of Organizational Sciences

Dragana Kragulj, Ph.D., is a full professor at the Faculty of Organizational Sciences, University of Belgrade. She was a Chair of the Department of Economics, Business Planning and International Management. She has published several editions of different textbooks on Economics, two monographs of her own and over 100 scientific papers published in reputable national and international journals and conferences. She has been involved in several research projects. In addition to her teaching, she is occupied with research of macroeconomic problems, prices, market, inflation, economic development, investment, international trade, agriculture, energy economics, process of transition, international economic integrations, the European Union.

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Published

2016-05-20

How to Cite

Parežanin, M., Jednak, S., & Kragulj, D. (2016). The Impact of FDI on the Economic Growth of Serbia. Management:Journal of Sustainable Business and Management Solutions in Emerging Economies, 21(78), 25–32. Retrieved from https://management.fon.bg.ac.rs/index.php/mng/article/view/43

Issue

Vol. 21 No. 78 (2016)

Section

Articles

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