Macroeconomic Determinant Of Economic Growth And World Economic-financial Crisis Cover Image

Makroekonomske determinante rasta i svetska ekonomsko-finansijska kriza
Macroeconomic Determinant Of Economic Growth And World Economic-financial Crisis

Author(s): Vladimir M. Ristanović
Subject(s): Economy
Published by: Универзитет у Нишу
Keywords: economic growth and development; real sector of economy; world economic and financial crisis; CEEC-5; Serbian economy

Summary/Abstract: Economic measures in circumstances of world economic and financial crisis can not be of universal character. Specific characteristics, as well as differences between economic systems should result in specific proposals for creating economic policy. The paper at the beginning analyzed macroeconomic determinants that influence economic growth and development. Hence, the paper analyzed specific characteristics of CEEC-5 countries in the period 1993-2007. By econometric analysis, using GMM dynamic panel model, real and monetary determinants influence on economic growth and development in this region is estimated. Also, descriptive statistic has provided possibilities for insight of specific characteristics of countries inside the region individually. Different specific characteristics of countries and different influence of macroeconomic variables on economic growth has as result different effects of world economic and financial crisis. At the end of the paper, an analysis of the implemented measure of creating economic policy in the mentioned countries has, first and foremost, provided a solid basis for creating economic policy in Serbian economy. In the focus of the analysis is the real sector of economy and reaction on effects of world crisis in recent years

  • Issue Year: 2010
  • Issue No: 1
  • Page Range: 17-33
  • Page Count: 17
  • Language: English