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Unraveling the economic performance of the CEEC countries. The role of exports and global value chains

Author

Listed:
  • Jan Hagemejer

    (Narodowy Bank Polski and University of Warsaw)

  • Jakub Mućk

    (Narodowy Bank Polski and Warsaw School of Economics)

Abstract

In this study we assess the importance of exports and global value chains (GVC) participation for economic growth. Using novel methods and an extensive dataset, we decompose GDP growth in the Central and Eastern European (CEEC) countries to show that in a large part of the period of transition and integration with the EU, exports have played a predominant role in shaping economic growth. We also show that exports have been the major factor driving the convergence of the CEEC countries with their advanced counterparts. We employ panel methods to analyze the determinants of growth of exported value added and show that the major growth drivers in the analyzed period of 1995-2014 are GVC participation, imports of technology and capital deepening.

Suggested Citation

  • Jan Hagemejer & Jakub Mućk, 2018. "Unraveling the economic performance of the CEEC countries. The role of exports and global value chains," NBP Working Papers 283, Narodowy Bank Polski.
    • Handle: RePEc:nbp:nbpmis:283
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    References listed on IDEAS

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    Cited by:

    1. Piotr Szpunar & Jan Hagemejer, 2018. "Globalisation and the Polish economy: macro and micro growth effects," BIS Papers chapters, in: Bank for International Settlements (ed.), Globalisation and deglobalisation, volume 100, pages 273-289, Bank for International Settlements.
    2. Aleksandra Nacewska-Twardowska, 2021. "Central and Eastern Europe Countries in the New International Trade Environment at the Beginning of the 21st Century: Global Value Chains and COVID-19," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 547-560.

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    More about this item

    Keywords

    economic growth; international trade; GVC; heterogeneous panels; common correlated effects estimation; CEEC;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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