Effects of Internal and External Factors on Economic Growth in Emerging Economies: Evidence from CEE Countries

This study aims to identify the factors that influence economic growth for 16 countries located in Central and Eastern Europe, from 1995-2019. To obtain the research results, panel data analysis was used, based on econometric models that test the influence of human capital, foreign capital, and dome...

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Bibliographic Details
Published in:Eastern European economics 2023, Vol.61 (1), p.66-85
Main Authors: Bostan, Ionel, Toma, Constantin, Aevoae, George, Robu, Ioan-Bogdan, Mardiros, Daniela Neonila, Topliceanu, Ștefan Cătălin
Format: Article
Language:English
Subjects:
Banking
capital
Data analysis
domestic investment
Economic growth
Economic theory
Economics
FDI
GDP per capita
Human capital
labor market
O47
Panel data
trade openness
transition process
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Summary:This study aims to identify the factors that influence economic growth for 16 countries located in Central and Eastern Europe, from 1995-2019. To obtain the research results, panel data analysis was used, based on econometric models that test the influence of human capital, foreign capital, and domestic capital on economic growth. The analytical data were collected from international databases (i.e.,the World Bank, IMF, and OECD) for the countries included in the study, considering the analyzed period. The main results show that economic growth is not influenced by the inflows of foreign capital, but by domestic investment and trade openness.
ISSN:0012-8775
1557-9298
DOI:10.1080/00128775.2022.2109489