Inuence of Trade and Institutions on Economic Growth in Transitional Economies: Evidences from Countries from Central and Eastern Europe and Western Balkans
Journal
Economic Analysis
Date Issued
2017
Author(s)
Shapkova Kocevska, Katerina; Makrevska Disoska, Elena
Abstract
The importance of institutions and free trade for economic growth is widely acknowledged in recent
economic literature. In this paper we are focused on determining the fractional effects of changes of
institutions and trade on economic growth as dependent variable. The analysis includes selected
transitional economies from Central and Eastern Europe and Western Balkans. In order to estimate
the effect on the institutions and trade on growth rates we develop an ordinary least squares (OLS)
panel regression model. The model examines 16 cross section units (countries) in the period 20002016.
The novelty of our work is that this is the first organized effort to inspect the importance of
institutions and trade on economic prosperity in this specific geographic area. Cross-country log-log
regressions models demonstrate that both institutions and trade are statistically significant
determinants the gross domestic product per capita in the selected economies.
economic literature. In this paper we are focused on determining the fractional effects of changes of
institutions and trade on economic growth as dependent variable. The analysis includes selected
transitional economies from Central and Eastern Europe and Western Balkans. In order to estimate
the effect on the institutions and trade on growth rates we develop an ordinary least squares (OLS)
panel regression model. The model examines 16 cross section units (countries) in the period 20002016.
The novelty of our work is that this is the first organized effort to inspect the importance of
institutions and trade on economic prosperity in this specific geographic area. Cross-country log-log
regressions models demonstrate that both institutions and trade are statistically significant
determinants the gross domestic product per capita in the selected economies.
Subjects
File(s)![Thumbnail Image]()
Loading...
Name
548-13-1154-1-10-20171225.pdf
Size
168.31 KB
Format
Adobe PDF
Checksum
(MD5):62ff11d98a39c3f8dd8afe7b9408d253