The Effects of Investment Treaties and Trade Agreements on FDI: The Case of Serbia

Han-Sol Lee, Nikolay Nenovsky and Woosik Yu
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Han-Sol Lee: Peoples’ Friendship University of Russia
Woosik Yu: Department of Economics, KIMEP University

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Abstract: This study explores the effects of Bilateral Investment Treaties (BIT) and Regional Trade Agreements (RTA) on foreign direct investment (FDI) inflows into Serbia, utilizing panel data for 2010–2021. The results indicate that both BIT and RTA independently exert positive impacts on Serbia's inward FDI. Also, the interaction effects between BIT and RTA dummies and export/import variables on inward FDI are positive. This suggests that the implementation of BITs and/or RTAs fosters a complementary relationship between trade and FDI in Serbia as the predominant type of FDIs from partner states with which Serbia shares BITs and/or RTAs is vertical and export-platform rather than horizontal.

Keywords: Bilateral investment treaty; foreign direct investment; regional trade agreement; Serbian economy; transition economy (search for similar items in EconPapers)
Date: 2024-05-02
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Published in Eastern European Economics, 2024, pp.1-27. ⟨10.1080/00128775.2024.2347970⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04569001

DOI: 10.1080/00128775.2024.2347970

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