标题：The relationship between economic growth and selected macroeconomic indicators in a group of Central and East European countries:a panel data approach
摘要：The paper investigates the relationship between economic growth and various macroeconomic indicators using panel data set of a selected group of 9 Central and East European Countries over 1995-2003.The choice of appropriate econometric model for each growth regression in relation to specific indicator is made based on the results of specification tests that include Hausman,Lagrange Multiplier and F tests.The main findings are as follows:Both the level of inflation rate and its volatility negatively affect economic growth:i the share of domestic investment in GDP has positive impact on growth rate of GDP;i 'openness’ when measured as the ratio of the sum of exports and imports to GDP positively affects economic growth;i the ratio of the stock of external debt to GDP exerts a negative impact on economic growth;i the ratio of budget balance to GDP is likely to positively affect growth rate of GDP.
关键词：The paper investigates the relationship between economic growth and various macroeconomic indicators using panel data set of a selected group of 9 Central and East European Countries over 1995-2003.The choice of appropriate econometric model for each growth regression in relation to specific indicator is made based on the results of specification tests that include Hausman,Lagrange Multiplier and F tests.The main findings are as follows:Both the level of inflation rate and its volatility negatively affect economic growth:i the share of domestic investment in GDP has positive impact on growth rate of GDP;i 'openness’ when measured as the ratio of the sum of exports and imports to GDP positively affects economic growth;i the ratio of the stock of external debt to GDP exerts a negative impact on economic growth;i the ratio of budget balance to GDP is likely to positively affect growth rate of GDP.
