The  investment attractiveness of countries: coupling between core dimensions

Bogdan  Moskalenko; Oleksii  Lyulyov; Tetyana  Pimonenko

doi:10.23762/FSO_VOL10_NO2_8

Published : 2022-06-29

Vol. 10 No. 2 (2022)

The investment attractiveness of countries: coupling between core dimensions

Bogdan Moskalenko

https://orcid.org/0000-0003-3972-1705

Oleksii Lyulyov

https://orcid.org/0000-0002-4865-7306

Tetyana Pimonenko

https://orcid.org/0000-0001-6442-3684

DOI: https://doi.org/10.23762/FSO_VOL10_NO2_8

Abstract

Ongoing economic development provokes the intensification of competition on the global market, requiring developing countries to offer affordable conditions for attracting new labour and financial resources. At the same time, foreign investors and skilled labour forces focus on countries with a high level of investment attractiveness. The paper aims to estimate the coordination and degree of coupling between the dimensions of investment attractiveness, defining the internal and external dimensions of investment attractiveness in order to do so. The internal dimensions included five groups of indicators: socio-economic, infrastructural, innovation/research, energy resources, and agricultural dimensions. Based on entropy methods, the authors developed an approach to assessing the degree of coupling between the core dimensions of investment attractiveness. The countries which were the subjects of the investigation for the period of 2000-2020 were Bulgaria, Croatia, Lithuania, Latvia, Romania, Poland, and Ukraine. The analysed data was obtained from the World Data Bank. The findings showed that Bulgaria, Croatia, Lithuania, Latvia, and Romania had the highest degree of coupling of integrated investment attractiveness in 2018-2020, Poland in 2018, and Ukraine in 2008. The results of pairwise and integrated assessment of coordination and interconnection between the core dimensions of investment attractiveness allowed for the identification of both positive and negative trends in the change thereof, justifying the governmental

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investment, coupling, coordination, sustainable development

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Moskalenko, B. ., Lyulyov, O. ., & Pimonenko, T. . (2022). The investment attractiveness of countries: coupling between core dimensions. Forum Scientiae Oeconomia, 10(2), 153–172. https://doi.org/10.23762/FSO_VOL10_NO2_8

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Bogdan Moskalenko

b.mos.sumdu@gmail.com
https://orcid.org/0000-0003-3972-1705

Affiliation:

Agro Business Client Advisor, ProCredit Bank Ukraine

Bio Statement (e.g., department and rank)

Bogdan Moskalenko, PhD, is an Agro Business Client Advisor at ProCredit Bank, Ukraine. He has published over 25 scientific works. His research interests include the business climate, efficient public administration, the investment climate, investment potential, and foreign direct investments.

Oleksii Lyulyov

alex_lyulev@econ.sumdu.edu.ua
https://orcid.org/0000-0002-4865-7306

Affiliation:

Sumy State University, Ukraine Ukraine

Bio Statement (e.g., department and rank)

Oleksii Lyulyov, PhD, is Head of the Marketing Department at Sumy State University, Ukraine. He earned his D.Sc. in Economics in 2019. Oleksii Lyulyov has published more than 120 scientific papers, including 50 papers in international peer-reviewed journals indexed by Scopus and/or Web of Science. The main sphere of his scientific interests includes investment policy, country marketing policy, country image, macroeconomic stability, innovative development, sustainable economic development, strategy development, modelling and forecasting development trends.

Tetyana Pimonenko

tetyana_pimonenko@econ.sumdu.edu.ua
https://orcid.org/0000-0001-6442-3684

Affiliation:

Sumy State University, Ukraine Ukraine

Bio Statement (e.g., department and rank)

Tetyana Pimonenko,PhD, is Deputy Director for International Activity of the Oleg Balatskyi Academic and Research Institute of Finance, Economics and Management at Sumy State University, Ukraine. She has earned a D. Sc. scientific degree. Tetyana has published more than 120 scientific papers, including 52 papers in international peer-reviewed journals indexed by Scopus and/or Web of Science. She is a scholarship holder of international programmes (Fulbright, Latvian Government, ITEC, Slovak Government) and has been a participant in over 10 international training programmes and seminars. Her research interests include investment policy, green marketing, green brand, green investment, alternative energy resources, green economics, environmental management and auditing in the corporate sector, sustainable development and education.