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Global Financial Crises: the Impact on Albanian Economic Growth

Author

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  • Çeljeta Sherifi

    (Epoka University, Economics Department, Tirana, Albania)

  • Güngör Turan

Abstract

This study presents the main causes and characteristics of the 2008 world financial crises, focusing on its impact on Albania`s economic growth; by examining the channels through which the global crises affected it. The methodology used to measure the impact of the crises is regression analysis and Johansen co-integration test, for exports and remittances as two important influencing components of GDP. The data is taken by INSTAT and World Bank on a quarterly basis, for 2004-2013 interval. The analysis showed that the crisis had a negative impact to a range of indicators causing a decline in emigrants’ remittances, exports, FDI, affecting so GDP and the entire economic growth of Albania.

Suggested Citation

  • Çeljeta Sherifi & Güngör Turan, 2018. "Global Financial Crises: the Impact on Albanian Economic Growth," European Journal of Economics and Business Studies Articles, Revistia Research and Publishing, vol. 4, January -.
    • Handle: RePEc:eur:ejesjr:243
    DOI: 10.26417/ejes.v10i1.p290-305
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