Investment Flows and Country Development in Emerging Markets: Analysing the Impact of Foreign Investment on Economic Growth
Abstract
The purpose of the article is to study the impact of investment flows on the economic development of Ukraine, Azerbaijan, and Uzbekistan, considering foreign investment, as well as to assess their contribution to the formation of sustainable economic growth. The methodology is represented by such methods of scientific knowledge as economic analysis, as well as SWOT analysis (Strengths, Weaknesses, Opportunities, Threats). The results of the study showed that foreign investment has a positive impact on the economic growth of developing countries, contributing to an increase in gross domestic product, reducing unemployment and stimulating technological progress. In addition, investment flows influence structural changes in the economy, facilitating the transition to more innovative and competitive arrangements. Additionally, successful attraction of foreign investment can improve the infrastructure and environmental situation in countries, which also favours their economic development. At the same time, the results of the study highlight the importance of creating a favourable investment climate to attract foreign investment and ensure sustainable economic growth, both now and in the future. However, it is important to understand the possible negative aspects of the impact of investment on the economy, including the issue of increased risks in the formation of dependence on foreign subsidies. The findings highlight the importance of seeking and attracting foreign investment to improve the economic performance of emerging market economies, as well as to stimulate sustainable economic growth and promote the integration of these economies into the global economic system, while minimizing negative impacts.
References
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[17] Haudi, H., Hadion Wijoyo, and Yoyok Cahyono. (2020). Analysis of most influential factors to attract foreign direct investment. Journal of Critical Reviews, 7 (13): 4128-4135.
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[24] Khalegi, Firuza, Aibek Kadyraliev, Dinara Tursunalieva, Alymbek Orozbekov, and Aizat Bigali. (2024). Blockchain and sustainable finance: Enhancing transparency and efficiency in green investments. Scientific Bulletin of Mukachevo State University. Series “Economics”, 11 (3): 125-137. DOI:https://doi.org/10.52566/msu-econ3.2024.125
[25] Khan, Anwar, Yang Chenggang, Jamal Hussain, and Zhou Kui. (2021). Impact of technological innovation, financial development and foreign direct investment on renewable energy, non-renewable energy and the environment in belt & road initiative countries. Renewable Energy, 171: 479-491. DOI:https://doi.org/10.1016/j.renene.2021.02.075
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[27] Kondrat, Iryna, and Illya Antoshchuk. 2022. The impact of foreign direct investment and inflation on economic growth in Ukraine. Science and Technology Today, 5 (5): 87-97. DOI: 10.52058/2786-6025-2022-5(5)-87-97
[28] Lazaj, Armira, Jonida Teta, and Eralda Xhafka. (2024). Economic growth and foreign direct investment in Balkans. Economics of Development, 23 (3): 8-17. DOI: https://doi.org/10.57111/econ/3.2024.08
[29] Lerner, Josh, and Ramana Nanda. (2020). Venture capital’s role in financing innovation: What we know and how much we still need to learn. Journal of Economic Perspectives, 34 (3): 237-261. DOI:https://doi.org/10.1257/jep.34.3.237
[30] Makedon, Vyacheslav, Hanna Zaikina, Liudmyla Slusareva, Olena Shumkova, and Olga Zhmaylova. (2020). Use of rebranding in marketing sphere of international entrepreneurship. International Journal of Entrepreneurship, 24 (1 Special Issue): 1-8. Available at: https://www.abacademies.org/articles/Use-of-Rebranding-in-Marketing-Sphere-of-International-Entrepreneurship.pdf
[31] Mehdiyev, Vugar. (2024). Harmonization of capital accounting in Azerbaijan commercial enterprises in accordance with IFRS requirements. Scientific Bulletin of Mukachevo State University. Series “Economics”, 11 (1): 40-49. DOI: https://doi.org/10.52566/msu-econ1.2024.40
[32] Miningou, Élisé Wendlassida, and Sampawende Jules Tapsoba. (2020). Education systems and foreign direct investment: Does external efficiency matter? Journal of Applied Economics, 23 (1): 583-599. DOI:https://doi.org/10.1080/15140326.2020.1797337
[33] Mytsenko, Valerii, Iryna Babets, Ivan Mytsenko, Olena Sokolovska, and Daria Nasypaiko. (2024). Global value chains and their impact on Ukraine’s agro-industrial complex. Ekonomika APK, 31 (4): 33-43. DOI:https://doi.org/10.32317/ekon.apk/4.2024.33
[34] Nguyen, Huu Cung. (2020). Impact of foreign direct investment on economic growth in Vietnam. Advances in Management & Applied Economics, 10 (2): 1-6.
[35] Ogbanje, Elaigwu Christopher, and Abubakar Onoja Salami. (2022). Impact of foreign direct investment on Nigeria’s agricultural sector (1981 to 2019). International Journal of Environment, Agriculture and Biotechnology, 7 (4): 161-171. DOI: https://doi.org/10.22161/ijeab.74.18
[36] Oke, Michael Ojo, Adeola Oluwakemi Adejayan, Funsho Tajudeen Kolapo, and Joseph Oluseye Mokuolu. (2020). Pull and push factors as determinant of foreign portfolio investment in the emerging market. Risk Governance & Control: Financial Markets & Institutions, 10 (4): 33-43. DOI:https://doi.org/10.22495/rgcv10i4p3
[37] Oklander, Mykhailo, Oksana Yashkina, Nataliia Petryshchenko, Oleksandr Karandin, and Olha Yevdokimova. (2024). Economic aspects of Industry 4.0 marketing technologies implementation in the agricultural sector of Ukraine. Ekonomika APK, 31 (4): 55-66. DOI:10.32317/ekon.apk/4.2024.55
[38] Osei, Michael J., and Jaebeom Kim. (2020). Foreign direct investment and economic growth: Is more financial development better? Economic Modelling, 93: 154-161.DOI: 10.1016/j.econmod.2020.07.009
[39] Parkhomets, Mykola, Liudmyla Uniiat, Roman Chornyi, Nelia Chorna, and Vasyl Hradovyi. (2023). Efficiency of production and processing of rapeseed for biodiesel in Ukraine. Agricultural and Resource Economics, 9 (2): 245-275. DOI: https://doi.org/10.51599/are.2023.09.02.11
[40] Saidi, Samir, Venkatesh Mani, Haifa Mefteh, Muhammad Shahbaz, and Pervaiz Akhtar. (2020). Dynamic linkages between transport, logistics, foreign direct investment, and economic growth: Empirical evidence from developing countries. Transportation Research Part A: Policy and Practice, 141: 277-293. DOI:https://doi.org/10.1016/j.tra.2020.09.020
[41] Schwarcz, Steven L. (2020). Regulating derivatives: A fundamental rethinking. Duke Law Journal, 70: 101-181. DOI: https://doi.org/10.2139/ssrn.3516036
[42] Shabbir, Malik Shahzad, Misbah Bashir, Hina Munir Abbasi, Ghulam Yahya, and Bilal Ahmed Abbasi. (2021). Effect of domestic and foreign private investment on economic growth of Pakistan. Transnational Corporations Review, 13 (4): 437-449. DOI: https://doi.org/10.1080/19186444.2020.1858676
[43] Shahini, Ermir, Mekhailo Fedorchuk, Vasyl Hruban, Valentyna Fedorchuk, and Oleksiy Sadovoy. (2024). Renewable energy opportunities in Ukraine in the context of blackouts. International Journal of Environmental Studies, 81 (1): 125-133. DOI: https://doi.org/10.1080/00207233.2024.2320021
[44] Shubalyi, Oleksandr. (2023). Analysis of the behaviour of European investors during the war in Ukraine. Economic Forum, 1 (4): 50-55. DOI: https://doi.org/10.36910/6775-2308-8559-2023-4-6
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Published
2024-12-30
How to Cite
BABAYEV, Farid et al.
Investment Flows and Country Development in Emerging Markets: Analysing the Impact of Foreign Investment on Economic Growth.
Theoretical and Practical Research in Economic Fields, [S.l.], v. 15, n. 4, p. 894 - 908, dec. 2024.
ISSN 2068-7710.
Available at: <https://journals.aserspublishing.eu/tpref/article/view/8682>. Date accessed: 06 jan. 2025.
doi: https://doi.org/10.14505/tpref.v15.4(32).09.
Section
Articles
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