Title (srp)

Strane direktne investicije i nivo tržišne koncentracije u zemljama Jugoistočne Evrope

Author

Radulović, Marija, 1986-

Contributor

Kostić, Milan, 1978-
Stanišić, Nenad, 1979-
Stojanović, Boban, 1958-
Grbić, Milka, 1981-

Description (srp)

Priliv stranog kapitala u formi stranih direktnih investicija (SDI), značajno sepovećao poslednjih decenija, posebno u zemljama u razvoju. Razlog za to leži u rastućimzahtevima za investicijama kako bi se ubrzao ekonomski rast i ostvarila makroekonomskastabilnost. Transnacionalne kompanije (TNK), kao ključni nociosi SDI i lideri u oblastinaprednih tehnologija i automatizacije utiču na napredak zemalja domaćina menjajujući pritome i njihovu tržišnu strukturu. Imajući u vidu značaj SDI kako za razvoj nacionalnihekonomija tako i za nivo tržišne koncentracije i uslova konkurencije, predmet istraživanjadoktorske disertacije je usmeren na ispitivanje uticaja priliva SDI na nivo tržišnekoncentracije i posredno konkurenciju na tržištima zemalja Jugoistočne Evrope (JIE).Prema tome, osnovni cilj istraživanja je da se na bazi relevantne literature i sprovedenogistraživanja sagleda efekat koje SDI imaju na nivo tržišne koncentracije i uslovekonkurencije u zemlji domaćinu. Na osnovu relevantne teorijsko-metodološke i empirijskeanalize, ispitana je statistička značajnost i povezanost priliva SDI i nivoa koncentracije,pri čemu se kao bitne determinante nivoa tržišne koncentracije razmatraju i veličinatržišta i stopa rasta tržišta. Takođe, ispitano je kakav je uticaj SDI na tržišta državaJIE sa posebnim osvrtom na države članice EU i one koje to nisu.U fokusu istraživanja uticaja SDI na nivo tržišne koncentraciju su dva tržišta:tržište duvana i duvanskih proizvoda i tržište mobilne telefonije. Na ovaj načinobuhvaćen je proizvodni i uslužni sektor nacionalnih ekonomija koje su predmet analize.Primenom odgovarajućih statističko-ekonometrijskih metoda dobijeni su rezultati validnognivoa statističke signifikantnosti. Na primeru zemalja JIE pokazano je da SDI imajustatistički značajan uticaj na nivo tržišne koncentracije u zemljama JIE na tržištumobilne telefonije i na tržištu duvanskih proizvoda i na taj način na uslove konkurencijeu njima u dugom roku, dok taj efekat ne postoji u kratkom roku. Pored toga, utvrđeno je da jepriliv SDI u kratkom roku smanjio nivo tržišne koncentracije samo na tržištu mobilnetelefonije zemalja JIE koje su članice EU, dok kod zemalja koje nisu članice EU ovaj efekatne postoji.Strane kompanije na tržištu mobilne telefonije i duvana i duvanskih proizvodazemalja JIE su uglavnom na tržišta ovih zemalja ulazile putem merdžera i akvizicija i putemprocesa privatizacije, a mali broj SDI su bile greenfield investicije. Ocenjeni efekti SDIna nivo tržišne koncentracije na posmatranim tržištima ukazuju na to da sa povećanjem SDIdolazi do povećanja nivoa tržišne koncentracije, što znači smanjenje konkurencije naposmatranim tržištima u dugom roku. To znači da politika privlačenja SDI nije bilaadekvatna i nije delovala u pravcu poboljšanja uslova konkurencije na tržištu zemalja JIE.Na primer, u većini zemalja JIE na tržištu duvana i duvanskih proizvoda domaće kompanijesu prestale da postoje, ili su preuzete od stranih kompanija. To znači da dobro koncipiranapolitika privlanjenja SDI, kakva nije bila u zemljama JIE (posebno onim koje nisu članiceEU), može smanjiti negativan i povećati pozitivan uticaj SDI na uslove konkurencije, štonije bio slučaj kod analiziranih država zbog neadekvatne politike privlačenja SDI.Doprinos doktorske disertacije se ogleda u boljem razumevanju načina na koji SDIutiču na nivo tržišne koncentracije i uslove konkurencije u zemljama domaćinima SDI,posebno u zemljama koje su članice EU i zemljama koje to nisu, i u činjenici da dobijenirezultati daju odgovarajuće zaključke koji se mogu iskoristiti za buduća istraživanja uticajaSDI na nivo tržišne koncentracije s obzirom na to da radi o relativno neistraženojpovezanosti navedenih varijabli.

Description (srp)

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Description (eng)

The inflow of foreign capital as a foreign direct investment (FDI) has increased significantly inrecent decades, especially in developing countries. The reason for this lies in the growing demand forinvestment to accelerate economic growth and achieve macroeconomic stability. Transnationalcorporations (TNCs), as key FDI carriers and leaders in advanced technologies and automation, areinfluencing the progress of host countries by changing their market structure. Since the FDI is importantfor developing national economies, the market concentration and competition conditions, the subject ofthe doctoral dissertation is focused on examining the impact of FDI inflows on market concentrationand competition in Southeast European (SEE) markets. Therefore, the main goal of the research is toexamine the effects that FDI has on the level of market concentration and conditions of competition inthe host country, based on the relevant literature and the conducted research. The statistical significanceand relationship between FDI inflows and concentration levels were examined based on relevanttheoretical-methodological and empirical analysis. Market size and market growth rates were alsoconsidered important determinants of market concentration levels. Also, the impact of FDI on SEEcountries' markets were examined, with special reference to EU member states and those that are not.The focus of the research is the impact of FDI on the level of market concentration in twomarkets: the market of tobacco and tobacco products and the mobile telephony market. Therefore, theproduction and service sectors of the national economies are included. By applying appropriatestatistical-econometric methods, a reasonable level of statistical significance was obtained. Theexample of SEE countries shows that FDI has a statistically significant impact on the level of marketconcentration in SEE countries in the mobile telephony market and tobacco products market and thuson the conditions of competition in them in the long run, while this effect does not exist in the short run.In addition, it was found that FDI inflows in the short term reduced market concentration only in themobile telephony market of SEE countries that are members of the EU, while in non-EU, this effectdoes not exist.Foreign companies entered the mobile telephony market and SEE countries' tobacco andtobacco products market mainly through mergers and acquisitions and the privatization process. A smallnumber of FDI were greenfield investments. The estimated effects of FDI on the level of marketconcentration in the observed markets indicate that with the increase of FDI, there is an increase inmarket concentration, which means a decrease in competition in the long run. This means that the policyof attracting FDI was not adequate and did not work towards improving the conditions of competitionin the SEE markets. For example, in most SEE countries in the tobacco and tobacco products market,domestic companies have been taken over by foreign companies. This means that a well-conceivedpolicy of attracting FDI, which was not the case in SEE countries (especially non-EU countries), canreduce the negative and increase the positive impact of FDI on competition, which was not the case inthe analyzed countries due to inadequate FDI attraction policy.The contribution of the doctoral dissertation is reflected in a better understanding of how FDIaffects the level of market concentration and conditions of competition in FDI host countries, especiallyin EU and non-EU countries, and in the fact that the results give appropriate conclusions that can beused for future research on the impact of FDI on the level of market concentration, given that it is arelatively unexplored relationship of these variables.Keywords: level of market concentration, foreign direct investment (FDI), European Union, SouthEast Europe, mobile telephony market, tobacco and tobacco products market.

Object languages

Serbian

Date

2022

Rights

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CC BY 3.0 AT - Creative Commons Attribution 3.0 Austria License.

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