Macroeconomic factors of economic growth in the European Union in 2000-2016: A multidimensional analysis

Batóg, Jacek; Batóg, Barbara

doi:10.15611/eada.2019.3.01

Cited by 4 publications

(2 citation statements)

References 16 publications

(11 reference statements)

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“…For example, Hagemejer and Mućk (2018) decomposed GDP growth in CEE countries and showed that in the analyzed period of 1995-2014, exports have played a predominant role in shaping economic growth and have been the major factor driving the convergence of the CEE countries with their advanced counterparts. Batóg and Batóg (2019) in their study applying a discriminant analysis indicated that apart from exports the most important determinants of economic growth in the EU-27 in 2000-2016 were consumption, investment and labour productivity. Their results suggest that in this period we have observed in the EU consumption-and investment-driven economic growth, while the impact of exports has been strongest during the three consecutive years following the enlargement of the European Union and at the end of the period considered when exports became a specific substitute for internal consumption.…”

Section: Indicators Of Economic Performance -Current Researchmentioning

confidence: 99%

Economic Performance Paths of CEE Countries and the EU-27 in 2000–2022

Batóg,

Batóg

2023

Folia Oeconomica Stetinensia

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Research background An analysis of the similarity of countries’ economic developments can provide an important premise for both the assessment of current international economic relations and the long-term prediction of their economic development potential. Purpose The paper presents research results on the paths of economic performance of the countries of Central and Eastern Europe in 2000–2022. As a reference object the EU-27 aggregate has been considered. A supplementary analysis of the impact of the last crises on the economic situation of the CEE countries was provided. Research methodology The analysis is carried out based on the authors’ method of multivariate analysis, where two positioning criteria are applied: an object’s distance from the optimal point and an object’s heterogeneity. A comparative analysis of economic performance paths dependency is provided using a first-order correlation coefficient for time series. Results It has been found that there has been a significant improvement in the macroeconomic situation of the CEE countries over the last two decades. Changes of economic performance in these countries were very similar, while the heterogeneity of their macroeconomic indicators was diminishing, due to nominal, real and institutional convergence. The CEE countries reacted in a similar way both to the worldwide economic crisis in 2009 and to the economic downturn caused by the COVID-19 coronavirus in 2020. It has been confirmed that the first of these crises had a greater negative impact on the economic situation of these countries. Novelty The originality of the study carried out lies, on the one hand, in the use of the author’s research method and, on the other hand, in the presentation of the impact of economic crises on the economic situation of a selected group of countries in the long term. The added value of the study is an analysis of the correlations of paths describing the economic situation of individual countries.

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Section: Indicators Of Economic Performance -Current Researchmentioning

confidence: 99%

Economic Performance Paths of CEE Countries and the EU-27 in 2000–2022

Batóg,

Batóg

2023

Folia Oeconomica Stetinensia

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“…Jacek Batóg and Barbara Jacek [5], in their study based on discriminant analysis, identify the key determinants affecting economic growth. The results obtained allowed us to conclude that the gross domestic product growth rates in E.U.…”

Section: Literature Review/backgroundmentioning

confidence: 99%

Comparative Multidimensional Analysis of the Current State of European Economies Based on the Complex of Macroeconomic Indicators

Aliukov

Buleca

2022

Mathematics

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The stability of the economy of any country is primarily determined by the totality of macroeconomic indicators that describe the current economic state. This article provides a multi-dimensional analysis of the macroeconomic situation in Europe according to the data of 2020. The purpose of the article is to give a clear idea of the relative position of the economies of European countries, their proximity or the significance of their differences to determine each country’s place in the overall European economic system. Research objectives: (1) to identify the necessary macroeconomic indicators for the research; (2) to determine the direction of the impact of these indicators on the economic situation of European countries; (3) to carry out a cluster division of the studied countries with the identification of the main characteristics of each cluster; (4) to identify the main macroeconomic indicators that determine the level of welfare of European countries, (5) to reduce the dimension of the multi-dimensional economic space using integrated latent factors, (6) to build a fuzzy mathematical model to predict the level of welfare of the country when the specified values of latent factors are achieved. The methodological basis of the analysis is the methods of processing multi-dimensional information, such as multi-dimensional scaling, cluster analysis, factor analysis, multivariate regression analysis, analysis of variance, discriminant analysis, and fuzzy modelling methods. The multivariate data processing was performed using the SPSS and FuzzyTech computer programs. The results obtained in the article can be useful in carrying out macroeconomic reforms to improve the economic condition of the countries.

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Planning and implementation of public investment projects in the face of unstable macroeconomic conditions

Jarosiński

2023

Optimum

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Purpose – The aim of the article is to draw attention to possible limitations and potential difficulties related to the implementation of public investment projects in the face of crisis phenomena and in particular the possible impact of macroeconomic factors on public investments. Research method – During the research, the method of critical analysis of the literature as well as analytical and descriptive methods were used in relation to the source data obtained during the empirical research, which allowed determining the impact of changes in macroeconomic factors on the planning and implementation of public investments. Results – Theoretical and empirical studies prove that macroeconomic instability has a significant impact on the course of investment processes in the public sector. The increase in inflation and interest rates of central banks has become a major threat to development processes; it may limit investment activity and reduce the effectiveness of public spending. Originality / value / implications / recommendations – The article discusses the current issues of planning and implementing investments in the face of changes in macroeconomic factors in crisis conditions. The recognized instability of investment processes in the public sector requires a detailed analysis of the current conditions and the impact of potential threats on long‑term economic development. The research shows that there is a need for a thorough and extensive analysis of macroeconomic conditions and their potential influence on the conditions of implementation, including the financing of public investment projects in the future.

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Macroeconomic factors of economic growth in the European Union in 2000-2016: A multidimensional analysis

Cited by 4 publications

References 16 publications

Economic Performance Paths of CEE Countries and the EU-27 in 2000–2022

Economic Performance Paths of CEE Countries and the EU-27 in 2000–2022

Comparative Multidimensional Analysis of the Current State of European Economies Based on the Complex of Macroeconomic Indicators

Planning and implementation of public investment projects in the face of unstable macroeconomic conditions

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