Exports, investments and economic development of pre-accession countries of the European Union: an empirical investigation of Bulgaria and Romania
This paper attempts to analyse the relationship between exports, investments and economic development in two pre-accession countries of the European Union, Bulgaria and Romania. For investigation of this relationship a multivariate autoregressive VAR model is used. The results of cointegration analysis showed that there is one cointegrated vector among exports, investments and economic growth for the two countries. Granger causality tests based on error correction models (ECM) indicated that there is a 'strong Granger causal' relation between economic growth and exports as well as between investments and exports for the two countries. In addition, economic development and capital accumulation in an economy seem to have just as much of an influence on exports as exports have on capital accumulation and economic development.
Year of publication: |
2004
|
---|---|
Authors: | Dritsakis, Nikolaos |
Published in: |
Applied Economics. - Taylor & Francis Journals, ISSN 0003-6846. - Vol. 36.2004, 16, p. 1831-1838
|
Publisher: |
Taylor & Francis Journals |
Saved in:
Online Resource
Saved in favorites
Similar items by person
-
KartsonakisâMademlis, Dimitrios, (2020)
-
Exports and economic growth : an empirical investigation of EU, USA and Japan using causality tests
Dritsakis, Nikolaos, (2006)
-
Seasonal analysis of tourist revenues : an empirical research for Greece
Dritsakis, Nikolaos, (2008)
- More ...