Notes
[1] 1The explanatory variables considered in this paper are similar to another paper which has been published in the Economic and Business Review (EBR), Vol 17(1), 2015; Faculty of Economics, University of Ljubljana. However, this paper differs significantly from the other one in terms of the considered sample size, literature review section and econometric methodologies. The dependent variable is: Bilateral FDI stock from OECD-20 countries to SEE-5 and EU-NMS-10 countries, whereas the dependent variable in the EBR paper is: Bilateral FDI stock from EU-14 countries to SEE-5 and EU-NMS-10 countries. Using the estimated LSDV coefficients, this paper also contributes to calculating FDI potentials in Macedonia, from origin OECD-20 countries.