The impact of crisis on the FDI inflows into Poland

Paweł Folfas


The world economic crisis, which began in 2008, affected negatively not only national economies but also the intensity of international movements of goods, services, and production factors. This article focuses on the impact of the last economic crisis on the FDI inflows into Poland. It is aimed at answering the research question whether the economic performance of Poland and its main economic partners affect the FDI inflows into Poland, which fell sharply in 2008 and also slightly decreased in 2009. Despite the increases in the FDI inflows during 2010–2011, they did not achieve the level from 2007. Additionally, the vulnerability of the FDI inflows into Poland to economic performance in Poland (host economy) and its main investment partners (home economies) is confirmed by Granger-causalitytests. According to them, in the case of Poland, there is a one-waycausality link between the growth in realGDPand the FDI inflows (case of growth-driven FDI).

Słowa kluczowe: FDI inflows, crisis, Granger causality