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2018, vol. 64, br. 4, str. 17-28
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Strane direktne investicije kao izvor finansiranja ekonomskog razvoja zemalja Zapadnog Balkana
Foreign direct investments as a source of financing of economic development of Western Balkan countries
Sažetak
U radu se sagledava ekonomski rast pet zemalja Zapadnog Balkana, s jedne, i priliv stranih direktnih investicija, kao jedan od eksternih izvora prirodnog razvoja ovih zemalja, s druge strane, u periodu 2000-2017. Pošlo se od stava po kome, ove zemlje moraju, zbog nedovoljne domaće štednje, da koriste strani kapital kao eksterni izvor finansiranja razvoja i da on predstavlja uslov trajnog prevođenja njihovih stopa ekonomskog rasta na viši nivo. Jer, evidentno je da stope ekonomskog rasta ovih zemalja nakon krize iz 2009. godine ne obezbeđuju zatvaranje razvojnog jaza za zemljama EU. U tom smislu, strane direktne investicije predstavljaju značajnu dopunu domaćoj akumulaciji. Međutim, ne osporavajući njihovu korisnost, valja imati u vidu da one ne mogu biti trajni supstitut za nedovoljnu domaću štednju zemalja Zapadnog Balkana.
Abstract
The paper considers economic growth of five Western Balkan countries on the one hand, and on the other the affluence of direct foreign investments as one of external sources of growth in the period 2000-2017. The starting point was the attitude that due to insufficient domestic savings and engagement of foreign investments, those countries have to treat external sources of investment as a condition of permanent change of economic growth rate to a higher level, because it is obvious that after the economic crisis in 2009, the economic growth rates do not provide closure of developmental gap with EU countries. Therefore, foreign direct investments are the supplement to domestic accumulation. However, without disclaiming their benefits, it should be borne in mind that they cannot be substitution for domestic saving.
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