FDI and the Crisis of the World Economy in 2008 (A mukodo toke es a 2008. evi vilaggazdasagi valsag)

Kulgazdasag, Budapest, Vol. 53, Nos. 1-2, pp. 42-61, January-February 2009

20 Pages Posted: 29 Apr 2009

See all articles by Kalman Kalotay

Kalman Kalotay

United Nations Conference on Trade and Development (UNCTAD); UNCTAD

Date Written: March 11, 2009

Abstract

2008 was marked by major changes in the world economy: the international integration based on money and capital markets fell into a deep crisis. This article examines how foreign direct investment - together with international trade - can replace those money and capital markets in the role of integrator of the world economy. It does not aim to provide an all-encompassing overview of future developments; nevertheless it analyses in detail to what degree foreign direct investment meets the requirements of being a stable phenomenon, to what degree its tendencies reflect the growing role of emerging economies and "Ricardian goods" in the global economy, and to what degree it is affected by the increasing role of States in economic affairs. An attempt is made at the end of the article to examine the challenges that foreign direct investment in Hungary faces during the current crisis and the opportunities it can gain from the current situation.

Note: Downloadable Document is in Hungarian.

Keywords: foreign direct investment, crisis, State ownership, Ricardian goods

JEL Classification: F21, F23, P20, E32

Suggested Citation

Kalotay, Kalman, FDI and the Crisis of the World Economy in 2008 (A mukodo toke es a 2008. evi vilaggazdasagi valsag) (March 11, 2009). Kulgazdasag, Budapest, Vol. 53, Nos. 1-2, pp. 42-61, January-February 2009. Available at SSRN: https://ssrn.com/abstract=1357570

Kalman Kalotay (Contact Author)

United Nations Conference on Trade and Development (UNCTAD) ( email )

Division on Investment, Technology and Enterprise
Palais des Nations
Geneva, 1211
Switzerland

UNCTAD ( email )

Division on Investment, Technology and Enterprise
Palais des Nations
Geneva, 1211
Switzerland

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