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Exports, Investments and Economic Growth: an Empirical Investigation of the Three Baltic Countries

  • Dritsaki Chaido

    (Department of Applied Informatics, University of Macedonia)

  • Vazakidis Athanasios

    (Department of Applied Informatics, University of Macedonia)

  • Adamopoulos Antonios

    (Department of Applied Informatics, University of Macedonia)

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    This paper investigates the relationship among exports, investments and economic growth, in the three Baltic countries which have recently joined the European Union. The purpose of this paper is to examine the long run relationship between these variables using quarterly data for the period 1992:I-2000:IV and applying the co-integration analysis as suggested by Johansen and Juselious. Then a trivariate autoregressive vector model (VAR) is used to estimate the short and long run relationships of variables of this model. The results of this paper suggested that the exports growth in combination with the increase of investments have a positive effect on the economic growth of the three Baltic countries.

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    Article provided by Baltic International Centre for Economic Policy Studies in its journal Baltic Journal of Economics.

    Volume (Year): 4 (2004)
    Issue (Month): 2 (July)
    Pages: 72-79

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    Handle: RePEc:bic:journl:v:4:y:2004:i:2:p:72-79
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    1. De Gregorio, Jose, 1992. "The effects of inflation on economic growth : Lessons from Latin America," European Economic Review, Elsevier, vol. 36(2-3), pages 417-425, April.
    2. Jose De Gregorio, 1991. "Economic Growth in Latin America," IMF Working Papers 91/71, International Monetary Fund.
    3. Chow, Peter C. Y., 1987. "Causality between export growth and industrial development : Empirial evidence from the NICs," Journal of Development Economics, Elsevier, vol. 26(1), pages 55-63, June.
    4. Alfaro, Laura & Chanda, Areendam & Kalemli-Ozcan, Sebnem & Sayek, Selin, 2004. "FDI and economic growth: the role of local financial markets," Journal of International Economics, Elsevier, vol. 64(1), pages 89-112, October.
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