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Testing the growth links of emerging economies: Croatia in a growing world economy

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  • Ziesemer, Thomas

    (UNU-MERIT, and SBE, Maastricht University)

Abstract

We estimate a dynamic simultaneous equation model for 16 variables of the Croatian economy in order to test the links of growth with education, R&D, trade, savings and FDI. In order to motivate the choice of variables we review the related theories of growth and look at the relevant data. Permanent shocks increasing the intercepts of the equations for education, R&D, trade, savings and FDI show that most of growth links work well in Croatia, but they also enhance foreign imbalances. Policies to balance the two aspects are briefly discussed.

Suggested Citation

  • Ziesemer, Thomas, 2017. "Testing the growth links of emerging economies: Croatia in a growing world economy," MERIT Working Papers 2017-051, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    • Handle: RePEc:unm:unumer:2017051
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    Cited by:

    1. Charis Vlados & Dimos Chatzinikolaou & Fotios Katimertzopoulos & Theodore Koutroukis, 2019. "Regional underdevelopment and less developed business ecosystems: The case of Eastern Macedonia and Thrace," Bulletin of Applied Economics, Risk Market Journals, vol. 6(2), pages 31-44.
    2. Katimertzopoulos, Fotios & Vlados, Charis & Koutroukis, Theodore, 2020. "Regional Innovation Systems and Less Developed Business Ecosystems: Fundamental Concepts and Theoretical Trends," DUTH Research Papers in Economics 7-2020, Democritus University of Thrace, Department of Economics.
    3. Thomas H. W. Ziesemer, 2023. "Semi-endogenous growth in a non-Walrasian DSEM for Brazil: estimation and simulation of changes in foreign income, human capital, R&D, and terms of trade," Economic Change and Restructuring, Springer, vol. 56(2), pages 1147-1183, April.

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    More about this item

    Keywords

    Growth; open economy; education; R&D; Croatia;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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