Role přímých zahraničních investic v determinaci vnější ekonomické rovnováhy Bulharska a Rumunska

Abstract

The aim of this thesis is to find out what role foreign direct investment played in the determination of the external economic balance from the perspective of balance of payments of Bulgaria and Romania in 2004 to 2012. Due to the often-discussed topic of investment incentives is a secondary aim the mapping of system investment incentives, as one of the factors motivating potential foreign investors to invest in these two quite specific EU countries. For orientation in the whole work is important to understand the theoretical bases associated with this issue, therefore attention is given the theory of foreign direct investment in the second chapter. In the next section of thesis is described how foreign direct investments developed in Bulgaria and Romania and what factors motivate foreign investors to invest in these countries. Development the current account of balance of payments of Bulgaria and Romania and the impact of foreign direct investment on the trade balance and income balance the last chapter is devoted. Special emphasis is placed on the problems of reinvested and repatriated earnings, which in recent years has taken center stage. Also context is analysed financing of the deficit of current account through foreign direct investment.