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Evaluation of Influencing Factors on Great Britain‘S Export Values

Author

Listed:
  • Medineckiene Milena

    (Vilnius Gediminas Technical University, Vilnius, Lithuania)

  • Kirdaite Viktorija

    (Vilnius Gediminas Technical University, Vilnius, Lithuania)

Abstract

Research purpose. The research aimed at identifying the main factors influencing export values in the region of Great Britain (GB) for the period of the last 30 years. Design / Methodology / Approach. In order to implement the investigation, the following tasks were intended: (1) To analyse scientific literature and mark out at least five non - dependent variables that impact export values of Great Britain. (2) Basing on findings, outlined in a scientific review, suggest or choose the methodology that is the most appropriate for this kind of tasks’ determination. (3) Collect the data for dependent and non-dependent variables (at least 30 samples). (4) Based on the presented methodology, determine the selected factors’ impact and make the statistical and economic analysis. The research was mainly done using quantitative analysis methods (descriptive, correlation, regressive analysis). Quantitative modelling and descriptive statistics methods are selected for investigation because they can suggest a different approach to analysing the factors influencing export values. Findings. Five non-dependent variables were marked out as factors influencing the export values in the selected region: gross domestic product (GDP); the number of employees in the region; amounts of cargo transportation; average salary in the region and labour costs. Calculation of the correlation coefficients showed that all independent variables were statistically significant. There is a very strong relationship between export values and GDP, employment, and labour costs. Originality / Value / Practical implications. The findings of this research can be applied in order to evaluate and determine the economic impact of the GB processes on the entire world, as Britain’s export values are among the top ten in the world. It is important to emphasise that the deeper analysis of the influencing factors of the volume of export in Great Britain showed an interrelation of these factors. So further investigation of this factor’s impact is essential.

Suggested Citation

  • Medineckiene Milena & Kirdaite Viktorija, 2021. "Evaluation of Influencing Factors on Great Britain‘S Export Values," Economics and Culture, Sciendo, vol. 18(1), pages 59-69, June.
    • Handle: RePEc:vrs:ecocul:v:18:y:2021:i:1:p:59-69:n:9
    DOI: 10.2478/jec-2021-0005
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    References listed on IDEAS

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    1. Costantini, Valeria & Mazzanti, Massimiliano, 2012. "On the green and innovative side of trade competitiveness? The impact of environmental policies and innovation on EU exports," Research Policy, Elsevier, vol. 41(1), pages 132-153.
    2. He, Ling-Yun & Lin, Xi & Zhang, ZhongXiang, 2020. "The impact of de-globalization on China’s economic transformation: Evidence from manufacturing export," Journal of Policy Modeling, Elsevier, vol. 42(3), pages 628-660.
    3. Kong, Dongmin & Kong, Gaowen & Pang, Lirang & Zhang, Jian, 2018. "Who gets the wage premium from export: Top managers or employees?," International Review of Economics & Finance, Elsevier, vol. 58(C), pages 356-370.
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    More about this item

    Keywords

    Impact analysis; GB export values; Quantitative analysis; Influencing factors;
    All these keywords.

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • D20 - Microeconomics - - Production and Organizations - - - General

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