Working Paper #2017-051
Testing the growth links of emerging economies: Croatia in a growing world economy
We estimate a dynamic simultaneous equation model for 16 variables of
the Croatian economy in order to test the links of growth with
education, R&D, trade, savings and FDI. In order to motivate the choice
of variables we review the related theories of growth and look at the
relevant data. Permanent shocks increasing the intercepts of the
equations for education, R&D, trade, savings and FDI show that most of
growth links work well in Croatia, but they also enhance foreign
imbalances. Policies to balance the two aspects are briefly discussed.
- Keywords
-
- Growth
- open economy
- education
- R&D
- Croatia
- JEL codes
-
- F43
- O11
- O19
- O41
- O47
Cite this as
APA 7th ed.Ziesemer, T. (2017). Testing the growth links of emerging economies: Croatia in a growing world economy (UNU-MERIT Working Paper No. 2017-051). UNU-MERIT. https://unu-merit.nl/publications/working-papers/abstract/?id=7427