Foreign Direct Investment in the Successor States of Yugoslavia

T​his edited volume offers a descriptive analysis of foreign direct investment (FDI) flows and cumulative stock, industrial composition, and important spatial trends for each successor state of former Yugoslavia: Bosnia & Herzegovina, Croatia, Kosovo, Montenegro, North Macedonia, Serbia, and Slovenia. The chapters are written by academic experts on the topic from each of these countries and are organised systematically in order to facilitate comparison between the states. The aim of this book is to advance scholarly knowledge about FDI in Southeastern Europe 25 years after the dissolution of Yugoslavia.

Each chapter includes a summary of scholarly contributions published on the topic in English-language and local language journals, a discussion of origins, composition by industry, and location choice within the country from 1995-2018, using Dunning's (1980) eclectic paradigm as a discussion framework. The chaptersconclude with prospects for FDI over the next twenty-five years with emphasis on economic growth projections, EU integration, and other relevant country-specific considerations the local authors deem relevant. Special attention is given to specific companies operating in Yugoslavia prior to its breakup and how these firms have been impacted by dissolution, recession, efforts toward European Union membership. The authors also examine the past and potential impact of FDI from unforeseen events such as the Global Financial Crisis and COVID-19. 

This book appeals to scholars of geography, international business, economics, and economic history of the former Yugoslavia as well as professionals working in the region and on related topics elsewhere.

About the Editor 


Joel Ian Deichmann, PhD is a Professor of Geography in the Global Studies Department at Bentley University in Waltham, Massachusetts, USA. He earned his PhD from the University at Buffalo in 1999 after completing his undergraduate degree at SUNY Geneseo (1993) and M.A. in Geography at the University of Cincinnati (1995). His has published extensively on geographic aspects of foreign direct investment, international tourism, and economic convergence. His regional focus is Central and Eastern Europe, where he has lived and traveled widely as a scholar, tourist, and Fulbright recipient. Prof. Deichmann’s travel book entitled Passion for Place: Embracing Global Wanderlust was published by 1st World Publishing in 2015. His teaching specialties include Globalization, Global Regions, the Geography of Europe, and Comparative Government and Politics. Several of these courses have been offered as short-term travel programs to locations throughout Central and Eastern Europe.  




About the Contributing Authors


Ademir Abdić, PhD is an Assistant Professor at the School of Economics and Business, University of Sarajevo, BiH. His fields of interests are applied statistics, econometrics and quantitative economics and he is author/co-author of two university textbooks and numerous scientific papers.
Lorik Ahmeti, MsC is a Master of Science in Finance and Accounting, Certified Accountant and currently employed as a Finance Officer in Moneta Financial Services, representative of Money Gram International in North Macedonia. He is a young researcher with special interest in the field of foreign direct investment in Balkan Counties. 

Kyle Conahan holds an MA in European Union Policy Studies from James Madison University (USA). His 2018 thesis, based upon fieldwork on FDI in Kosovo through on-site stakeholder interviews, is entitled "FDI in Kosovo and Possible Avenues for Change." As a contractor, he supports the International Criminal Investigative Training Assistance Program.

Tomislav Globan, PhD is an Assistant Professor at the Faculty of Economics & Business, University of Zagreb. He has scientific and professional expertise in the field of economics of European integration, macroeconomics, and sports economics. He has won various international and domestic awards for scientific excellence.

Maja Ivanović, PhD is Advisor to the Governor at the Central Bank of Montenegro, responsible for analysis, forecasting, and research of Montenegrin economic activity, inflation, and real estate market.

Danijela Jaćimović, PhD is a full professor at the University of Montenegro, Faculty of Economics. Her fields of interest include International Economics and European Integration. She participated in severalEU projects and programs and is the recipient of a Jean Monnet Module 2012-2015 and 2020-2023.

Besnik Krasniqi, PhD is an Associate Professor at University of Prishtina. He holds an MA and PhD in Economics from Staffordshire University in the UK. A Fulbright Scholar, his teaching and research interests are in Small Business and Entrepreneurship, and he has published widely on these topics in international journals. 

Simon Kušar, PhD is an Associate Professor in the Department of Geography, Faculty of Arts, University of Ljubljana. He teaching and research interests are in economic geography and regional planning. 

Lejla Lazović-Pita is an Assistant Professor at the School of Economics and Business, University of Sarajevo, BiH and a CERGE-EI Foundation Teaching Fellow. She holds a PhD from the University of Bamberg, Germany. Her academic and professional areas of interest are public finance and public policies.


Marin Levaj is a Research Assistant at the Department of Macroeconomics and Economic Development, Faculty of Economics at the University of Zagreb, Croatia. 

Emilija Manić, PhD teaches Economic Geography and Geography of Tourism at the University of Belgrade - Faculty of Economics. Her main fields of interest include regional and economic development, spatial analysis, environmental and socio-economic background analysis.

Rufi Osmani, PhD is a Professor of Finance and Economics at Faculty of Business and Economics, SEEU, Tetovo, North Macedonia. He holds an MA and PhD in international finance from the University of Prishtina, Kosovo. His teaching and research interests include transition economies, shadow economy, FDI, fiscal policy, and economic development. 

Florin Peci, PhD is a Professor in the Faculty of Business Administration at the University of Peja in Kosovo. His teaching andresearch interests are in Management and International Trade. He has also managed various national and international projects (Erasmus+), Public Administration, SMEs, and Private Sector Development. 
Almir Peštek, PhD is a Professor at the School of Economics and Business, University of Sarajevo, Bosnia and Herzegovina. He is a Fulbright post-doctoral scholar and served at Loyola University Chicago - Quinlan School of Business. His research interests are marketing, digital marketing and tourism. 
Ivan Ratkaj earned his BA, MA and PhD in geography at the University of Belgrade, Faculty of Geography. Since 1999 he has been part of the Faculty of Geography in Belgrade, Department for Human Geography. His main research interests include social, economic and urban geography.

Sunčica Rogić is a PhD candidate and teaching assistant at the University of Montenegro, Faculty of Economics in Podgorica.

Mikica Sibinović is an Associate Professor at the University of Belgrade in the Faculty of Geography, Department of Human Geography. His professional interests are in economic and political geography with special focus on regional development.

Josip Tica, PhD is a Professor in the Faculty of Economics and Business, University of Zagreb. He spent a year at the University of Pittsburgh as a Fulbright visiting professor. His research interests are transition to market economies with special emphasis on the Croatian economy