文章基本信息

标题：A VECM approach to detangling growth, exports, imports and FDI knot in selected CEE countries
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作者：Žiković, Saša ; Tomas Žiković, Ivana ; Grdinić, Maja 等
期刊名称：Croatian Operational Research Review
印刷版ISSN：1848-0225
出版年度：2014
卷号：5
期号：2
页码：161-175
语种：English
出版社：Croatian Operational Research Society
摘要：The authors analyze the relationship between GDP, imports-coverage ratio (NEX), FDI and gross fixed capital formation (GFC) in selected CEE countries by using an error correction model. The empirical results confirm a positive long-run influence of the imports coverage ratio, FDI and GFC on GDP growth for all of the countries, except Croatia. In the case of Croatia, there is a significant negative feedback between FDI and GDP growth in the long run and a positive one in the short run. By using B. Horvat’s research on this subject, a logical explanation of this sort of paradoxical behavior is suggested. The second uncommon result is the long-run positive relationship between GDP and the imports-coverage ratio. The obtained result speaks in favor of a conservative approach to running a national economy, where the current account and the imports-coverage ratio are taken into account and the economic growth is achieved through slower but stable, internally driven growth.
关键词：Error Correction Model; FDI; imports-coverage ratio; gross fixed capital; GDP; economic growth; CEE countries