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Article
The Impact of Economic Receptiveness to Economic Development of Central and Eastern European Countries
Baiba Šavriņa, Dainora Grundey
ABSTRACT. The paper aims at disclosing the economic receptiveness of Central and Eastern European Countries (CEEC) to economic development. Therefore, the following research directions are supported: a) the phenomenon of an open economy in transition countries is defined; b) main strategic models of multinational companies are described; c) the situation of foreign direct investment (FDI) in CEEC is evaluated; d) differences between Central and Eastern European Countries and the degree of liberalization and competitiveness of the Region of Central and Eastern Europe are identified. The paper concludes with positive and negative effects of the market openness in the countries of East-Central Europe.
KEYWORDS: economic development, economic growth, economic receptiveness, liberalization, CEEC.
JEL classification: O11, O4, P2.