Analysis of foreign capital inflow impact on inovative growth: the baltic states in the context of the european union

Kęstutis Peleckis, Vytautas Tvaronavičius, Agnė Tvaronavičienė

Abstract


The article „Analysis of Foreign Capital Inflow Impact on Innovative Growth: the Baltic States in the Context of European Union“ discusses the role of foreign direct investments (FDI) and innovations in economies of Lithuania, Latvia, Estonia and European Union countries. Impact of FDI and innovations on the growth of economy of a country is being critically evaluated. Quantitative influence of foreign direct investment and innovations on economic indicators of the Baltic states and the European Union countries is also being tested. Hypotheses formulated by authors tackle relationships between foreign direct investment, gross domestic product, labour costs, research and development expenditure (R&D), patent applications and summary innovation index in Lithuania, Latvia, Estonia and, respectively, in the European Union countries. In order to verify the presented hypotheses the correlation analysis and the Student‘s criteria method were used. Quantitative evaluation of separate relations enables us to compare and economically interpret the role of foreign direct investment and innovations in the Baltic states and European Union countries economies and allows forming an attitude of states towards stimulation of foreign direct investment and innovations.

Keywords


foreign direct investments; innovations; gross domestic product; factors of investment; quantitative evaluation; the Baltic states’ economies

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"Societal studies" ISSN online 2029-2244 / ISSN print 2029-2236