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

Author

Listed:
  • MARIJA TRPKOVA

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

  • BILJANA TASHEVSKA

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

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.

Suggested Citation

  • Marija Trpkova & Biljana Tashevska, 2011. "Determinants Of Economic Growth In South - East Europe: A Panel Data Approach," Perspectives of Innovation in Economics and Business (PIEB), Prague Development Center, vol. 7(1), pages 12-15, January.
  • Handle: RePEc:pdc:jrpieb:v:7:y:2011:i:1:p:12-15
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    References listed on IDEAS

    as
    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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    Citations

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    Cited by:

    1. A Alodadi & J Benhin, 2015. "Long Term Economic Growth in Oil-Rich Saudi Arabia: What is the role for non-oil sectors?," Economic Issues Journal Articles, Economic Issues, vol. 20(1), pages 109-130, March.
    2. Mihaela Simionescu, 2016. "The Real GDP Rate in European Union. A Panel Data Approach," Working Papers of Institute for Economic Forecasting 161001, Institute for Economic Forecasting.
    3. Nzingoula, Gildas crépin, 2015. "Les déterminants de la croissance économique en zone cemac: Une approche en données de panel
      [The seterminants of economic growth in cemac: a panel data approach]
      ," MPRA Paper 67009, University Library of Munich, Germany.

    More about this item

    Keywords

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

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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