Greenfield and Brownfield Investments and Economic Growth: Evidence from Central and Eastern European Union Countries

Bayar, Yılmaz

doi:10.1515/ngoe-2017-0015

Cited by 25 publications

(38 citation statements)

References 21 publications

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“…Not least, the policies concerning sustainable development goals should be promoted. In this vein, greenfield and brownfield investments may lessen unemployment, while increasing incomes, public and private consumption, capital accumulation and productivity [89]. As well, infrastructure should be improved to guarantee that FDI which is acquired manifest an increased gain to the entire economy.…”

Section: Conclusion and Policy Implicationsmentioning

confidence: 99%

Exploring Foreign Direct Investment–Economic Growth Nexus—Empirical Evidence from Central and Eastern European Countries

2019

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This study aims to examine the link between foreign direct investment (FDI) inflows and economic growth, also considering several institutional quality variables, as well as sustainable development goals (SDGs) set in the 2030 Agenda for Sustainable Development. By estimating panel data regression models for a sample of 11 Central and Eastern European countries, from 2003 to 2016, the empirical outcomes provide support for a non-linear relationship between FDI and gross domestic product per capita. Regarding institutional quality, it is found that control of corruption, government effectiveness, regulatory quality, rule of law, and voice and accountability positively influence growth, while political stability and absence of violence/terrorism is not statistically significant. Moreover, SDGs such as poverty, income distribution, education, innovation, transport infrastructure, and information technology are noteworthy drivers of growth. The outcomes of panel fully modified and dynamic ordinary least squares partly confirm the findings. The panel vector error-correction model Granger causalities provide support for a short-run one-way causal association running from FDI to growth and a long-run two-way causal connection among FDI and growth. Furthermore, in the long run, unidirectional causal relationships running from each institutional quality indicator to economic growth and FDI are set out.

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Section: Conclusion and Policy Implicationsmentioning

confidence: 99%

Exploring Foreign Direct Investment–Economic Growth Nexus—Empirical Evidence from Central and Eastern European Countries

2019

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“…58 Thus, researchers found that establishing these under-utilized sites may positively influence economic growth. 59,60…”

Section: Literature Reviewmentioning

confidence: 99%

“…Moreover, in GFI, the construction of new production facilities may also be accompanied by building new offices, distribution hubs and living dorms. 60 Firms prefer GFI in order to exploit long-term opportunities and leverage their competitive advantages in emerging markets if the country risk is low. 65 Nevertheless, likewise BFI, there is a lack of literature related to the influence of GFI on the adoption of green technology or environmental health.…”

Section: Literature Reviewmentioning

confidence: 99%

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Brownfield, greenfield, and renewable energy consumption: Moderating role of effective governance

Yahya

Rafiq

2019

Energy & Environment

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This study investigates the influence of greenfield investment and brownfield investment on renewable energy consumption along with the moderating effect of government effectiveness in 68 countries over the period 2013 to 2014. In order to evaluate more holistic view of the empirical model, we further divide our data into two sub-panels based on country risk. By applying the system-GMM technique to mitigate statistical biases including endogeneity, the empirical results show that brownfield and greenfield investment positively influences renewable energy consumption in global and low-risk panel. However, there is no statistically significant effect of brownfield investment and adverse effect of greenfield investment on renewable energy consumption in low-risk countries. Results also show that effective governments promote the use of renewable energy but it does not moderate the relationship between brownfield investment and renewable energy consumption. On the other hand, government effectiveness strengthens the positive association between greenfield investment and renewable energy consumption in global and low-risk panel, while weakens the negative link between these variables in high-risk countries. Policy implications of our results are also discussed.

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“…Plyno lauko investicija yra naujo ūkinio komercinio vieneto sukūrimas, pastatymas ir paleidimas veikti tokioje teritorijoje, kurioje iki tol nebuvo vykdoma jokia veikla ir nebuvo sukurta jos infrastruktūra. Bayar (2017) vykdyto tyrimo rezultatai atskleidė, kad tiek plyno lauko, tiek urbanistinės dykros teritorijų investicijos turi teigiamą įtaką ekonomikos augimui. Svarbu pažymėti, kad ne visuomet urbanistinės dykros teritorijos atnaujinimo pramoninei veiklai sąnaudos yra mažesnės už pramoninės zonos įrengimą plyno lauko teritorijoje.…”

Section: Pramoninių Parkų Klasifikacijaunclassified

Pramoninių Parkų Išsidėstymas Lietuvos Respublikos Teritorijoje / Distribution of Industrial Parks in the Territory of the Republic of Lithuania

Vabuolytė

Burinskienė

2019

Science - Future of Lithuania

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Industrial parks are one of the most widely used regional policy tools in the world, aimed at promoting investment and economic growth and reducing social exclusion. The rational layout of the parks, taking into account the accessibility of transport infrastructure and the availability of work force, helps to achieve this goal. Otherwise, the creation of the park may not produce the desired result and the investment in the project will not be justified. The authors analyse the spatial distribution of industrial parks in Lithuania, as well as their supply. In order to achieve this goal, a comprehensive review of the scientific literature was carried out, the types and features of the most common parks in the world were identified, and a map of the spatial distribution of industrial parks in Lithuania was compiled using GIS. The object of the research is limited to the territory of the Republic of Lithuania and its regions.

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Greenfield and Brownfield Investments and Economic Growth: Evidence from Central and Eastern European Union Countries

Cited by 25 publications

References 21 publications

Exploring Foreign Direct Investment–Economic Growth Nexus—Empirical Evidence from Central and Eastern European Countries

Exploring Foreign Direct Investment–Economic Growth Nexus—Empirical Evidence from Central and Eastern European Countries

Brownfield, greenfield, and renewable energy consumption: Moderating role of effective governance

Pramoninių Parkų Išsidėstymas Lietuvos Respublikos Teritorijoje / Distribution of Industrial Parks in the Territory of the Republic of Lithuania

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