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Trade Liberalisation and Economic Growth in Macedonia

Author

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  • Mano-Bakalinov Viktorija

    (Roehampton University London, United Kingdom of Great Britain and Northern Ireland)

Abstract

The objective of this paper is to explore the effects of trade on Macedonian economic growth. The autoregressive distributed lag (ARDL) model is applied on yearly data over the period of 1993-2014. Empirical investigation reveals that an increase of population and openness demonstrate a positive and significant effect on Macedonian economic growth. Given other diverging findings, this suggests that the relationship between trade reforms and growth through the productivity function may vary across transition economies. Nevertheless, the findings of this paper indicate that policies focusing on market liberalisation and opening the economy to trade have a positive effect on Macedonian economic growth, both in the short run and the long run.

Suggested Citation

  • Mano-Bakalinov Viktorija, 2016. "Trade Liberalisation and Economic Growth in Macedonia," South East European Journal of Economics and Business, Sciendo, vol. 11(2), pages 48-60, December.
    • Handle: RePEc:vrs:seejeb:v:11:y:2016:i:2:p:48-60:n:4
    DOI: 10.1515/jeb-2016-0010
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    Cited by:

    1. Iwasaki, Ichiro & 岩﨑, 一郎 & Tokunaga, Masahiro, 2019. "The Determinants and Macroeconomic Impacts of Foreign Direct Investment in Transition Economies," CEI Working Paper Series 2019-8, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.

    More about this item

    Keywords

    ARDL; growth; reforms; Macedonia; transition;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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