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Economic Performance in Post-Soviet and Post-Communist Countries – Evidence from Panel Data and Multivariate Statistical Analysis

Author

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  • Szymańska Agata

    (PhD Assistant Professor, Institute of Economics, Faculty of Economics and Sociology, University of Lodz, Poland)

Abstract

The study examines the effect of sets of determinants of economic growth, which are widely emphasised in the literature, in a group of 27 selected post-Soviet, post-communist and transition countries from Central and Eastern Europe, the former Soviet Union, and Mongolia during 1997–2017. The set of baseline variables includes, among others, trade openness, investment rate, public consumption spending, and selected demographic factors. The methodology uses panel data and it is supported by multivariate statistical methods of grouping objects. The panel data provides results that are mainly consistent with the literature review. However, the effects of demographic factors are rather not significant, but the role of investment has been emphasised. In turn, the multivariate statistical approaches indicate the shifts in regional (dis)similarity between the analysed countries with respect to the performance of the selected variables over the last 20 years.

Suggested Citation

  • Szymańska Agata, 2021. "Economic Performance in Post-Soviet and Post-Communist Countries – Evidence from Panel Data and Multivariate Statistical Analysis," South East European Journal of Economics and Business, Sciendo, vol. 16(2), pages 1-16, December.
    • Handle: RePEc:vrs:seejeb:v:16:y:2021:i:2:p:1-16:n:3
    DOI: 10.2478/jeb-2021-0011
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    More about this item

    Keywords

    Panel data; post-Soviet countries; transition countries; post-communist countries; multivariate approach;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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