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UNEMPLOYMENT EFFECTS OF GREENFIELD AND BROWNFIELD INVESTMENTS IN POST-TRANSITION EUROPEAN UNION MEMBERS

Yilmaz Bayar, Rita Remeikienė, Jan Žufan, Miloslav Novotný

The foreign direct investment (FDI) inflows have exhibited substantial increases with contri bution of relaxation of the impediments over the international flows of goods, services and capital mainly resulting from the accelerating liberalization and globalization as of 1980s. Consequently, international FDI inflows reached USD 3.111 trillion in 2007, but then contracted due to economic crises and the increasing protectionism concerns in the recent years and became USD 1.95 trillion in 2017 (World Bank, 2019a). The rapidly expanding FDI flows made the economic effects of FDI one of the muchdiscussed and studied topics in the international economics. On the one hand, the scholars have focused on the effect of FDI inflows on the economic growth, unemployment, total taxes, technological development, environmental degradation (see, e.g., Lasbrey et al., 2018).
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POTENTIAL OF THE CZECH BUSINESS ENVIRONMENT ASSUMES THE EFFECTS OF FOREIGN DIRECT INVESTMENT

Sylvie Kotíková

As a consequence of political changes, the process of transitioning a centrally controlled economy to a market economy has influenced the development processes of the states in which this transformation has occurred (Hlaváček & Bal-Domanska, 2016). It was expected that the entry of foreign investors would bring an inflow of capital, new investment, export potential, and technological transfer (Estrin et al., 2009; Rapacki & Prochniak, 2009). Foreign direct investment (FDI) is generally considered to be the contribution of holders of know-how, technology, new management methods and skills, initiators of innovation activities, strategic employers, and exporters. FDI can lead to economic growth, changes in the business or institutional environment, restructuring of the economy and, ideally, also to the increase of labour productivity in the host region and the improvement of macroeconomic indicators (Damborský, 2013). Moreover, for transition economies, FDI is the key indicator for evaluating their economic transformation (Starzyczná, 2010). FDI in the Czech Republic, and in transition economies in general, is regarded as a crucial criterion for a successful economic transformation (Hlaváček & Bal-Domanska, 2016).
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THE IMPACT OF SOVEREIGN WEALTH FUND OWNERSHIP ON THE FINANCIAL PERFORMANCE OF FIRMS: THE EVIDENCE FROM EMERGING MARKETS

Dariusz Urban

Sovereign Wealth Funds (SWFs) are still considered to be new-born institutional investors, in international financial markets, as well as innovative investment vehicles, despite their relatively long history. Several funds have been operating at a global level for more than fifty years, however the number of those created after the year 2000 represents the majority of the total in existence. For many years, these state-run funds have been almost anonymous investors, existing in the shadows, maintaining a low profile in the public eye. SWFs have been regarded as investment vehicles established in order to manage, in a rational and profitoriented way, pools of national wealth for future generations.
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ECONOMIC DEGLOBALIZATION – FROM HYPOTHESIS TO REALITY

Cătălin Postelnicu, Vasile Dinu, Dan-Cristian Dabija

Benefits of globalization in the economy of the country is a contentious issue not only in general public but also among academics and professionals of the world economy and international trade, management and marketing, who hold important positions in European or international financial institutions.
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PODNIKY SE ZAHRANIČNÍ ÚČASTÍ V LIBERECKÉM KRAJI. VÝSLEDKY DOTAZNÍKOVÉHO ŠETŘENÍ

Zuzana Potužáková, Jaroslav Demel

Přímé zahraniční investice (PZI) jsou jedním z významných faktorů, které ovlivnil ekonomický vývoj tranzitivních ekonomik po roce 1989. Česká republika patři ve střední Evropě ke státům s největším objemem PZI na obyvatele, a to zejména díky své geografické poloze, tradici průmyslové výroby a příznivému poměru ceny a kvalifikace pracovní síly.
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WAVELET ANALYSIS OF STOCK RETURN ENERGY DECOMPOSITION AND RETURN COMOVEMENT – A CASE OF SOME CENTRAL EUROPEAN AND DEVELOPED EUROPEAN STOCK MARKETS

Silvo Dajčman, Alenka Kavkler

Stock market integration, stock market comovement and return spillovers between developed and developing stock markets,particularly CEE markets, are of great importance for international investors making financial decisions. Increased comovement of stock markets returns may diminish the advantage of internationally diversified investment portfolios.
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FDI and the Liberec Region: the Case of the Labour Market

Jaroslav Demel, Zuzana Potužáková

Foreign direct investment has accelerated considerably as a result of the process of globalisation and liberalisation. This has seen a change in the operation of developed economies and, at a far broader level, has influenced undercapitalised transition economies after the fall of the communist regimes of Central and Eastern Europe. FDI fundamentally influences the national element of transition economies nd the regions it flows into.
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