Vol.3, No 2, 2006 pp. 135 - 150
UDC
330.322.8 330.322:339.13.025.88
FOREIGN DIRECT INVESTMENT AS A FACTOR OF ACCELERATION OF THE TRANSITION PROCESS AND ITS ROLE IN THE PROCESS OF PRIVATIZATION
Zoran Arandjelović, Marija Petrović-Randjelović
Faculty of Economics, University of Niš , 18000 Niš , Serbia
The spreading gap between rich and poor undeveloped countries indicates that there is a strong need for contrivance of such inductive approach for developing countries and countries in transition in contemporary world economy, that will maximize the positive influence of globalization. The complexity of this problem is proven by the fact that those countries do not possess the key development resources of the contemporary global economy, in order to properly act on the new development possibilities and advocate reaching of their own vision of development. Development limitations are often associated with the lack of one or more production factors that limit the development. In the conditions of scarce internal sources that are primarily linked with deficit in domestic accumulation, these countries feel the need for engaging additional financial sources for development. The process of transition posed many important questions to the new market economies, such as how to proceed with privatization in the best way and how to become integrated in the best possible way into the global economy. As a major development resource in the contemporary global economy, foreign direct investment is observed as a promoter of the process of transition and a mechanism by which economies in transition reach the efficient integration in the global economy. From microeconomic restructuring perspective, foreign direct investment or the opening up to the participation of foreign owners in the transition process, offered several opportunities to solve some of the resource, technological, market and financial constraints facing the transition economies, which in turn indirectly contribute to increasing the efficiency of the national economy, on the whole. Especially for these reasons, the aim of this paper is to analyze and reconsider critically the role played by foreign direct investment in the process of transition, with a special attention paid to its role in the Serbian economy in transition and its contribution to successful realization of the process of privatization.
Key Words:
Foreign direct investment, privatization, transition, effects
STRANE DIRKTNE INVESTICIJE KAO FAKTOR UBRZANJA PROCESA TRANZICIJE I NJIHOVA ULOGA U PROCESU PRIVATIZACIJE
Trend rasta jaza između bogatih i siromašnih nerazvijenih zemalja nameće potrebu za nalaženje takvog pristupa uključenosti zemalja u razvoju i zemalja u tranziciji u savremenu svetsku privredu koji će maksimizirati pozitivna dejstva globalizacije. Problematika postaje posebno kompleksna iz razloga što zemlje u razvoju i zemlje u tranziciji ne poseduju ključne razvojne resurse savremene globalne ekonomije, kako bi na adekvatan načn reagovale na nove razvojne mogućnosti i podržale ostvarivanje sopstvene vizije razvoja. Ograničenja razvoja najčešće su uslovljena nedostatkom jednog ili više proizvodnih faktora koji čine uska grla za razvoj. U uslovima oskudnih unutrašnjih izvora koji se prvenstveno vezuju za deficit u domaćoj akumulaciji, ove zemlje osećaju potrebu za angažovanjem dopunskih izvora za finansiranje razvoja. Proces tranzicije nametnuo je mnoga značajna pitanja budućim tržišnim ekonomijama, kao što su izbor najboljeg načina za sprovođenje privatizacije i integracija na najbolji mogući način u globalnu ekonomiju. Kao vodeći razvojni resurs u savremenoj globalnoj ekonomiji, strane direktne investicije se posmatraju kao promoter procesa tranziciji i mehanizam pomoću kojeg ekonomije u tranziciji ostvaruju efikasnu integraciju u globalnu ekonomiju. Sa mikroekonomske perspektive restrukturiranja, strane direktne investicije ili omogućavanje pristupa stranim vlasnicima procesu tranzicije, nudi nekoliko mogućnosti za rešavanje nekih resursnih, tehnoloških, tržišnih i finansijskih graničenja sa kojima se suočavaju tranzicione ekonomije, što obratno indirektno doprinosi rastu efikasnosti nacionalne ekonomije. Upravo iz tog razloga, cilj ovog rada je da analizira i kritički razmotri ulogu koju igraju strane direktne investicije u procesu tranzicije, usmeravajući posebnu pažnju na njihovu ulogu u ekonomiji Srbije u tranziciji i njihovom doprinosu uspešnoj realizaciji procesa privatizacije.
Ključne reči:
strane direktne investicije, privatizacija, tranzicija, efekti.
