Determinants of Economic Growth in Transition Economies: Do International Trade and Domestic Savings Matter?

2001 ◽  
Author(s):  
Yui Suzuki
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Transition Economies ◽  
Domestic Savings ◽  
Determinants Of Economic Growth

scholarly journals The Effects of Inflation, Openness to Trade and Value Added in Production on Economic Growth in Transition Economies

2017 ◽  
Author(s):  
Özgür Ömer Ersin ◽  
Melike Bildirici
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Transition Economies ◽  
Transition Period ◽  
Value Added ◽  
Negative Effects ◽  
Positive Effects ◽  
Inflation Rates ◽  
Openness To Trade ◽  
Positive Impacts

The study aims to evaluate the economic growth process and the macroeconomic factors, namely, the inflation rates, the value added in the production taken as a proxy of productivity and openness to trade for the selected Eurasian transition economies. The paper focuses on the transition period and the economic performance achieved following the independence of the analyzed countries. By using a sample that consists of Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, the relationship between economic growth with inflation, trade openness and value added obtained by the national industries are evaluated within a panel setting. The dataset is investigated with traditional and structural break unit root tests followed by panel regression analyses. Considering the findings in the literature which suggest either statistically insignificant or having positive or negative effects of inflation on growth depending on the countries analyzed, the empirical findings of the paper are in favor of negative effects of inflation on growth: though the size of the effect of inflation rates on growth in rather small, negative effect of inflation cannot be rejected. Further, the positive effects of value added in the production which is taken as a proxy to productivity shows significant positive impacts on growth. Similarly, openness to international trade is shown to have positive impacts for the transition countries analyzed. The results are in favor of the findings in literature suggesting that “it is not the inflation rates, rather than the variation in inflation” which could limit economic growth. The findings for openness and value added suggest policies to enhance productivity and international trade to accelerate the economic growth in the transition economies.

: (Determinants of Economic Growth in Transition Economies: Their Implications for North Korea)

2014 ◽  
Author(s):  
Hyung-Gon Jeong ◽  
Byung-Yeon Kim ◽  
Jae Wan Lee ◽  
Ho-Kyung Bang ◽  
Yi Kyung Hong
Keyword(s):  
Economic Growth ◽  
Transition Economies ◽  
North Korea ◽  
Determinants Of Economic Growth

scholarly journals Determinants of Economic Growth: Will Data Tell?

2010 ◽  
Vol 2 (4) ◽  
pp. 222-246 ◽  
Author(s):  
Antonio Ciccone ◽  
Marek Jarociński
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Role Of Government ◽  
Income Data ◽  
Growth Empirics ◽  
Determinants Of Economic Growth

Many factors inhibiting and facilitating economic growth have been suggested. Can agnostics rely on international income data to tell them which matter? We find that agnostic priors lead to conclusions that are sensitive to differences across available income estimates. For example, the PWT 6.2 revision of the 1960–1996 income estimates in the PWT 6.1 leads to substantial changes regarding the role of government, international trade, demography, and geography. We conclude that margins of error in international income estimates appear too large for agnostic growth empirics. (JEL O41, O47)

scholarly journals A Panel Data Analysis of Economic Growth Determinants in 34 African Countries

2021 ◽  
Vol 14 (6) ◽  
pp. 260
Author(s):  
Larissa Batrancea ◽  
Malar Mozhi Rathnaswamy ◽  
Ioan Batrancea
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Human Development ◽  
Low Income ◽  
Panel Data Analysis ◽  
African Countries ◽  
Gdp Growth Rate ◽  
Wide Range ◽  
Domestic Savings ◽  
Determinants Of Economic Growth

The research study investigated the economic determinants of economic growth in 34 countries across Africa during a two-decade period (2001–2019). For this purpose, the sample included a wide range of economies, from low income to high income and from low human development to high human development, according to recent international rankings provided by the World Bank and the United Nations Development Programme. By means of a multimodal approach centered on panel data modelling, we showed that economic growth, proxied by the GDP growth rate, was substantially influenced by economic indicators such as imports, exports, gross capital formation, and gross domestic savings. We also showed that foreign direct investment inflows and outflows play an important role for capital and savings. Our empirical results offer insights on strategies that national authorities could implement to boost economic growth and development across the African continent.

scholarly journals The Effects Service Trade on Transition Economies: 2000-2010

2014 ◽  
Author(s):  
Sevda Yapraklı ◽  
Mehmet Sinan Temurlenk ◽  
Adem Türkmen ◽  
Aslı Cansın Doker
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
International Trade ◽  
Transition Economies ◽  
Tertiary Education ◽  
Panel Data Analysis ◽  
Economic Transformation ◽  
Service Trade ◽  
International Service ◽  
Effect On Growth

While emerging information technologies have been infusing to the production of manufactured goods at higher rate for widespread use of services, with this case, the services sector in terms of production and consumption eliminates the need to have done. Moreover, many service branches have been subject to international trade and more with each year, the share of service trade is increasing in international trade. International service trade with helping to close the technological development gap between developing and developed countries has significant role on economic growth, realization for process of economic development in structural imbalances and accordingly the macroeconomic policy response. International service trade of the country's economic transformation in the process, it is purposed that production function method based on the model is used in the context of traditional and modern service trade on economic growth, to examine the effects and the impacts on direction of the transition economies between 2000 and 2010. For 15 transition economies having satisfied data; the effects of modern and traditional trade in service on growth rate is examined with using panel data analysis. The model shows that accumulation of capital per capita and for representing human capital chosen the received tertiary education enrolment rate, traditional and modern trade in service has significant effect on growth. On the other hand, openness has no significant effect on growth for chosen country group and identified time period. It can be said that policies aimed physical and human capital stock can create significant effect on growth.

Determinants of Economic Growth in Transition Economies: Implications for Economic Reform in North Korea

2015 ◽  
Author(s):  
Hyung-Gon Jeong ◽  
Byung-Yeon Kim ◽  
Jae Wan Lee ◽  
Ho-Kyung Bang ◽  
Yi Kyung Hong
Keyword(s):  
Economic Growth ◽  
Transition Economies ◽  
Economic Reform ◽  
North Korea ◽  
Determinants Of Economic Growth

Economic Growth and Macro Variables in India: An Empirical Study

2015 ◽  
pp. 42-59
Author(s):  
Saba Ismail ◽  
Shahid Ahmed
Keyword(s):  
Economic Growth ◽  
Growth Rates ◽  
Trade Openness ◽  
Capital Formation ◽  
Gdp Growth ◽  
Fdi Inflows ◽  
Domestic Capital ◽  
The Government ◽  
Macro Variables ◽  
Determinants Of Economic Growth

The research objective of this paper is to explore the empirical linkages between economic growth and foreign direct investment (FDI), gross fixed capital formation (GFCF) and trade openness in India (TOP) over the period 1980 to 2013. The study reveals a positive relationship between economic growth and FDI, GFCF and TOP. This study establishes a strong unidirectional causal flow from changes in FDI, trade openness and capital formation to the economic growth rates of India. The impulse response function traces the positive influence of these macro variables on the GDP growth rates of India. The study also reveals that the volatility of GDP growth rates in India is mainly attributed to the variation in the level of GFCF and FDI. The study concludes that the FDI inflows and the size of capital formation are the main determinants of economic growth. In view of this, it is expected that the government of India should provide more policy focus on promoting FDI inflows and domestic capital formations to increase its economic growth in the long-term.

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