| Abstract | Glavni cilj ovog rada bio je pregledom teorijskih koncepata i dosadašnjih istraživanja formirati empirijski model za statističku ocjenu značajnosti međuodnosa zaštite vlasničkih prava, korupcije i kretanja stranih direktnih investicija na primjeru odabranih post- tranzicijskih zemalja. U obimnoj literaturi o FDI-u posebna pažnja se pridaje institucionalnim determinantama među kojima značajno mjesto pripada percepciji korupcije i zaštiti vlasničkih prava. Iako su institucionalne varijable izuzetno endogene naravi, reformski poticaji zaštiti vlasničkih prava trebali bi doprinijeti nižem stupnju korupcije i time većem priljevu FDI-a. Istraživanje je rađeno na temelju uzorka post-tranzicijskih zemalja i to Hrvatske, Slovenije, Slovačke i Češke za razdoblje od 1995. do 2021. korištenjem baze podataka WB i VGI (varijable: priljev FDI-a u postotku BDP-a-, BDP per capita, inflacija, proračunski saldo u postotku BDP-a, indeks percepcije korupcije i indeks zaštite vlasničkih prava). Ideja koja stoji iza prve hipoteze je da dobro definirana i zaštićena vlasnička prava pojačavaju efikasnost tržišnog mehanizma i time predstavljaju bolje poduzetničko i općenito ekonomsko okruženje. Upotrebom statističkog paketa SPSS napravljeni su dijagrami rasipanja za navedene varijable po zemljama. Za sve zemlje, osim Slovenije, uočena je pozitivna povezanost između zaštite vlasničkih prava i percepcije korupcije.
Za potvrđivanje druge hipoteze, upotrebom istovjetnog statističkog paketa, provedena je regresijska analiza (višestruka linearna regresija) nakon što je provedena deskriptivna statistika i izračunata korelacijska matrica. Provjereni su glavni preduvjeti za provedbu regresijske analize. Rezultati analize, čak i na primjeru Češke, nisu pokazali da na temelju zaštite vlasničkih prava možemo predviđati priljev FDI-a te ne možemo prihvatiti hipotezu da zaštita vlasničkih prava pozitivno djeluje na priljev FDI-a za razliku od prethodnih istraživanja. |
| Abstract (english) | The main objective of this paper was to establish an empirical model for the statistical evaluation of the significance of the relationship between property rights protection, corruption and the movement of foreign direct investment using selected post-transition countries as examples by reviewing theoretical concepts and previous research. In the vast literature on FDI, special attention is paid to institutional determinants, among which perceptions of corruption and protection of property rights occupy an important place. Although institutional variables are extremely endogenous in nature, reform incentives to protect property rights should contribute to lower levels of corruption and thus to higher FDI inflows. The research was conducted on a sample of post-transition countries, namely Croatia, Slovenia, Slovakia and the Czech Republic for the period 1995 to 2021, using the WB and VGI database (variables: FDI inflow as a percentage of GDP, GDP per capita, inflation, fiscal balance as a percentage of GDP, corruption perception index and property rights protection index). The idea behind the first hypothesis is that well-defined and protected property rights increase the efficiency of the market mechanism and thus constitute a better business and general economic environment. Using the statistical package SPSS, scatter plots were created for the above variables by country. For all countries, except Slovenia, a positive relationship was found between the protection of property rights and the perception of corruption.
To confirm the second hypothesis, a regression analysis (multiple linear regression) was carried out with the same statistical package after the descriptive statistics had been performed and the correlation matrix calculated. The results of the analysis did not show, even using the Czech Republic as an example, that we can predict FDI inflows based on the protection of property rights, and we cannot accept the hypothesis that the protection of property rights has a positive effect on FDI inflows, contrary to previous research. |
