Foreign and Domestic Growth Drivers in Eastern Europe
This paper analyses the growth effects of capital formation, exports and FDI as major drivers of economic development in Eastern Europe. The fundamental innovations are identified by empirically and theoretically motivated short- and long-run restrictions in structural cointegrated vector autoregressions. Impulse responses and variance decompositions reveal quite different growth effects in various Eastern European countries. Generally, strong reliance on exports goes along with higher GDP, and FDI bears substantial potential for fostering economic growth. It is shown that the recent worldwide recession clearly hit Eastern Europe through the export channel, whereas the recovery is mainly supported by positive demand shocks.
|Date of creation:||22 Jul 2010|
|Contact details of provider:|| Postal: Universitäts-Str. 31, D-93040 Regensburg|
Phone: +49 941 943-2392
Fax: +49 941 943-4752
Web page: http://www.uni-regensburg.de/wirtschaftswissenschaften/fakultaet
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Luis A. Rivera-Batiz & Paul M. Romer, 1991.
"Economic Integration and Endogenous Growth,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 106(2), pages 531-555.
- GC. Rodrigo, 2000. "East Asia's growth: technology or accumulation?," Contemporary Economic Policy, Western Economic Association International, vol. 18(2), pages 215-227, 04.
- Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 70(1), pages 65-94.
- Gonzalo, J. & Ng, S., 1996.
"A Systematic Framework for Analyzing the Dynamic Effects of Permanent and Transitory Shocks,"
Cahiers de recherche
9603, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Gonzalo, Jesus & Ng, Serena, 2001. "A systematic framework for analyzing the dynamic effects of permanent and transitory shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 25(10), pages 1527-1546, October.
- Gonzalo, Jesús & Ng, Serena, 1996. "A systematic framework for analyzing the dynamic effects of permanent and transitory shocks," DES - Working Papers. Statistics and Econometrics. WS 6203, Universidad Carlos III de Madrid. Departamento de Estadística.
- Gonzalo, J. & Ng, S., 1996. "A Systematic Framework for Analyzing the Dynamic Effects of Permanent and Transitory Shocks," Cahiers de recherche 9603, Universite de Montreal, Departement de sciences economiques.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Lewis, W Arthur, 1980.
"The Slowing Down of the Engine of Growth,"
American Economic Review,
American Economic Association, vol. 70(4), pages 555-564, September.
- Kutan, Ali M. & Yigit, Taner M., 2009. "European integration, productivity growth and real convergence: Evidence from the new member states," Economic Systems, Elsevier, vol. 33(2), pages 127-137, June.
- Ronald Findlay, 1978. "Relative Backwardness, Direct Foreign Investment, and the Transfer of Technology: A Simple Dynamic Model," The Quarterly Journal of Economics, Oxford University Press, vol. 92(1), pages 1-16.
- Janos Kornai, 2006. "The Great Transformation Of Central Eastern Europe: Success And Disappointment - First Published," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 2(4), pages 11-38.
- Feasel, Edward & Kim, Yongbeom & Smith, Stephen C, 2001. "Investment, Exports, and Output in South Korea: A VAR Approach to Growth Empirics," Review of Development Economics, Wiley Blackwell, vol. 5(3), pages 421-432, October.
- János Kornai, 2006. "The great transformation of Central Eastern Europe," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 14(2), pages 207-244, 04.
- Luiz R. de Mello Jr., 1997. "Foreign Direct Investment in Developing Countries: A Selective Survey," Studies in Economics 9701, School of Economics, University of Kent.
- Paul M Romer, 1999.
"Increasing Returns and Long-Run Growth,"
Levine's Working Paper Archive
2232, David K. Levine.
- Marcella Nicolini & Laura Resmini, 2010. "FDI spillovers in new EU member states," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 18(3), pages 487-511, 07.
- Luiz de Mello, 1997. "Foreign direct investment in developing countries and growth: A selective survey," Journal of Development Studies, Taylor & Francis Journals, vol. 34(1), pages 1-34.
- Stephen Thomsen, 1999. "Southeast Asia: The Role of Foreign Direct Investment Policies in Development," OECD Working Papers on International Investment 1999/1, OECD Publishing.
- Enzo Weber, 2006.
"Common and Uncommon Sources of Growth in Asia Pacific,"
SFB 649 Discussion Papers
SFB649DP2006-064, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Weber, Enzo, 2009. "Common and uncommon sources of growth in Asia Pacific," Journal of the Japanese and International Economies, Elsevier, vol. 23(1), pages 20-36, March.
- Weber, Enzo, 2006. "Common and uncommon sources of growth in Asia Pacific," MPRA Paper 3715, University Library of Munich, Germany, revised Jun 2007.
- Damijan, Joze P. & Knell, Mark & Majcen, Boris & Rojec, Matija, 2003. "The role of FDI, R&D accumulation and trade in transferring technology to transition countries: evidence from firm panel data for eight transition countries," Economic Systems, Elsevier, vol. 27(2), pages 189-204, June.
- Charles I. Jones & Paul M. Romer, 2009.
"The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital,"
NBER Working Papers
15094, National Bureau of Economic Research, Inc.
- Charles I. Jones & Paul M. Romer, 2010. "The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(1), pages 224-245, January.
- Nelson, Richard R & Pack, Howard, 1999.
"The Asian Miracle and Modern Growth Theory,"
Royal Economic Society, vol. 109(457), pages 416-436, July.
- Johansen, Soren, 1995. "Likelihood-Based Inference in Cointegrated Vector Autoregressive Models," OUP Catalogue, Oxford University Press, number 9780198774501.
When requesting a correction, please mention this item's handle: RePEc:bay:rdwiwi:16014. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gernot Deinzer)
If references are entirely missing, you can add them using this form.