Врската помеѓу невработеноста и економскиот раст во земјите во транзиција

Abstract

Slowing of economic growth in a country is usually connected with an increase in unemployment rates, and vice-versa, a more dynamic economic growth leads to a decrease in the unemployment rates. Arthur Ocun was the first to quantitatively examine this relationship and presented it in his world renowned article“Potential GNP: its measurement and significance”. It is now known as Okun’s law. The objective of this paper is to present a perspective on the dynamics of the unemployment in the countries in transition, in order to measure the sensitivity of labour markets to economic growth in these countries. An attempt is made to examine whether the Okun’s law applies for these countries, based on a research using a regression analysis.