Relations between the inflow of foreign direct investments and economic indicators in OECD countries

The importance of foreign direct investment in the mining industry can be illustrated in the case of countries whose economy relies heavily on the mining sector as this attracts major foreign investment to them. The aim of the study is to determine whether there is a link between the inflow of foreign direct investment and the selected macroeconomic indicators in OECD countries and to identify groups of countries showing similar characteristics in this context. The evaluation of the interconnection of selected indicators in this study was made firstly by examining if there is a link between the examined macroeconomic indicators (independent variables) and the FDI inflow (dependent variable). The results showed that an increase in labour productivity could be reflected in an increase in FDI inflows. Based on the results obtained, the backward link in relation to labour productivity was also examined, whether there is a link between the macroeconomic indicators (independent variables) and the labour productivity (dependent variable), resulting in that an increase in FDI inflows could translate into an increase in labour productivity. The paper also included cluster analysis, the main goal of which was to determine countries based on the evaluation of labour productivity and the inflow of foreign direct investment. Four clusters have been identified, two large ones and two clusters containing individual countries (Ireland and Luxembourg). All of the V4 countries are included in one of the large clusters, including the countries which are characterised by low variability in average labour productivity and high variability in the average inflow of foreign investment. The mining industry's recommendations, conclusions, and implications are focused mainly on this cluster of countries.