Attracting FDI to the New EU Member States

Dorożyński, Tomasz; Kuna‐Marszałek, Anetta

doi:10.1007/978-3-319-39654-5_4

Cited by 3 publications

(1 citation statement)

References 28 publications

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“…It should also be mentioned that one indicator among others that can offer information about the attractiveness of a country to foreign investors is the baseline profitability index, which involves three criteria, one of which actually is the ease of the repatriation of capital invested abroad, as well as United Nations Conference on Trade and Development and FDI Confidence Index (Dorożyński and Kuna-Marszałek, 2016).…”

Section: Foreign Direct Investments and Round-trippingmentioning

confidence: 99%

Foreign direct investments and round tripping between Cyprus and Russia

Repousis

Lois

Kougioumtsidis

2019

JMLC

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Purpose This paper aims to look at the linkage of foreign direct investments (FDIs) and round-tripping in the Cyprus–Russia corridor. Design/methodology/approach The paper is divided into two chapters. The first chapter looks at the relationship between FDIs and round-tripping in Cyprus and Russia. The second chapter discusses and combines statistical data from different sources about illiciting financial flows from Russia and the linkage of FDIs and round-tripping with Cyprus. Findings Evidence suggests that, despite the obviously numerous and varied legislative provisions and initiatives, the movement of vast amounts of capital to or through the Cypriot financial system is a phenomenon, which has absolutely not been removed. The illegal outflow of money seems to grow rapidly over the years instead of decreasing. What actually happens is that after a dramatic decline in the years 2013-2015, the FDIs of the Russians to and from Cyprus in 2016 returned to pre-crisis levels of 2013, and so far, it seems the inflows–outflows system returned to “normal” levels. Cyprus ranks first in inward FDI and outward FDI with almost 35 per cent of total flows from Russia. An element that demonstrates the presence of round-tripping, is the sharp and rapid parallel increase of inward FDI and outward FDI, and that the category of total deposits in Cyprus by nonresidents, including special-purpose entity, recorded significant fluctuations caused by not only the large size of deposits but also the short time remaining in the banking sector. Russia ranked second among the countries with the largest average illegal capital outflows in the years 2004-2013. Movement of capital to exploit the particularly beneficial Cyprus tax system is still a tax backdoor for Europe and worldwide (hence the neologisms like Cyp-Rus), especially after the “de-offshorization” law in Russia in practice since January 1, 2015. Originality/value Evidence presented in this paper is important for national and supernational supervisory anti-money laundering bodies and compliance authorities to understand bad practices in financial transactions between Russia and Cyprus.

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Section: Foreign Direct Investments and Round-trippingmentioning

confidence: 99%

Foreign direct investments and round tripping between Cyprus and Russia

Repousis

Lois

Kougioumtsidis

2019

JMLC

View full text Add to dashboard Cite

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Attracting FDI to the New EU Member States

Dorożyński

Kuna‐Marszałek

2016

Competitiveness of CEE Economies and Businesses

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Financing of International Business Through Private Equity

Čulková

Csikósová

Janošková

2019

Global Trends of Modernization in Budgeting and Finance

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The global financial crisis has greatly limited access to both public and private sources of finance in the recent decades. Markets and national governments emitted low interested and multi-structured financial means with low liquidity. In the post-crisis period national governments tend to regulate their financial sectors more strictly, paying more attention to risky and low interest financial sources, necessary for investments, on which private equity is dependent. Private equity funds grew significantly in the last two decades, both in the USA and in Europe. Such new ways of debt financing and cheap money support massive growth in the industrial sectors of individual countries. This research is studying the positive impact of private equity on management of the whole industries and economies in Europe. Our analysis stems from the general assumption that private equity has positive influence on industrial performance and our empirical data evidences that private equity reacts to economic decrease more intensively than under the business model without financial leverage. The goal of this chapter is to show how private equity contributes to the growth of industrial sectors, performance of industrial companies, with a special emphasis on the mining sector.

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Attracting FDI to the New EU Member States

Cited by 3 publications

References 28 publications

Foreign direct investments and round tripping between Cyprus and Russia

Foreign direct investments and round tripping between Cyprus and Russia

Attracting FDI to the New EU Member States

Financing of International Business Through Private Equity

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