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Determinants Of Economic Growth In South - East Europe: A Panel Data Approach

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  • MARIJA TRPKOVA

    (Faculty of Economics, University “Ss Cyril and Methodius,” Macedonia)

  • BILJANA TASHEVSKA

    (Faculty of Economics, University “Ss Cyril and Methodius,” Macedonia)

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    Abstract

    The objective of this paper is to reveal the main determinants of the economic growth in South-East European countries. We perform a panel data analysis for 7 countries with similar economic surroundings: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania and Serbia. The observation period is 1995 - 2007. Empirical results indicate that Consumer price index, Current account/GDP, Exchange rate, General government balance, General government expenditure, Population, Large scale privatization and Price liberalization are some of the main factors on which Southeast European countries policy makers should focus in order to reach significant increase in economic growth.

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    Bibliographic Info

    Article provided by Prague Development Center in its journal Perspectives of Innovation in Economics and Business (PIEB).

    Volume (Year): 7 (2011)
    Issue (Month): 1 (January)
    Pages: 12-15

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    Handle: RePEc:pdc:jrpieb:v:7:y:2011:i:1:p:12-15

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    Related research

    Keywords: Economic growth; panel regression; unit root test; South-East European countries;

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    1. Magdalena Morgese Borys & Éva Katalin Polgár & Andrei Zlate, 2008. "Real convergence and the determinants of growth in EU candidate and potential candidate countries - a panel data approach," Occasional Paper Series 86, European Central Bank.
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