Resumen
The paper analyzes cross-section data for Serbia in the time period from 2005 to 2013. It applies multiple regression technique and measures the impact of macroeconomic variables on attracting foreign investments in brownfield sites in Serbia. The research has shown that macroeconomic indicators such as unemployment rate, average annual wages, gross domestic product, consumer price and exchange rate are statistically significant, while real GDP growth, subsidies and other transfers are statistically insignificant.