Economic Policy for Sustainable Regional Development: a Case Study of Slovak Republic
Volume 8, Issue 4 (2019), pp. 597–608
Pub. online: 30 June 2019 Type: Article Open Access
30 June 2019
30 June 2019
Authors of the article focus on the current issues regarding foreign direct investments and their impact on the economic development of Slovak regions. The aim of this article is to draft overview of stage of current development within the economic and investment policy of the Government of the Slovak Republic to meet the needs of regional development. The introduction part presents the theoretical basis described by local and foreign authors reflecting the level of foreign direct investments use including their influence on the economic progress in particular regions emphasised on the development and promotion of small and medium-sized enterprises. Analysis of the government investment policy is carried out in the specification part underlining the significant role of the Slovak Investment and Trade Development Agency. Stated knowledge provide the theoretical framework for the experimental part of the article. Experimental part of the article by the means of numerical statistics and comparison method analyses and evaluates the level of investment support provided to small and medium-sized regional enterprises through projects sustained by the Slovak Investment and Trade Development Agency within the years 2012 and 2017.Successfully concluded projects concerning the foreign investment aid for the particular Slovak regions are analysed in experimental part, which also quantifies investments based on their contribution to the growth in jobs and provides an overview of the cooperating activities among regions of Slovakia from 2007 to 2017. Contributional outcome of the experimental part of the article is presentation of governmental standards, which are required from regions in order to obtain investment aid while job creation is taken into account. Issued conclusions may inspire further economic operators and authorities responsible in area of social and economic regional development in Slovak republic, regions of other Member States and third countries of Europe as well.