The sources of economic growth in Polish regions

Sources of Economic Growth: A Global Perspective

“…Despite the fact that this variable achieved the sixth position in the ranking among all analyzed countries, it suggests the need to monitor this variable in the future, so expenditure on education should be taken into account when planning sustainable economic policies to stimulate economic growth (Armeanu et al [6], Tvaronavičienė et al [7]). All the posterior results were consistent with growth and convergence theory (Barro and Sala-i-Martin [2], Gazda and Puziak [60]) and general economic empirics (Sala-i-Martin et al [19]). Table 4 includes the top five models according to their posterior probabilities.…”

“…This suggests that migration should be monitored at the global level since it could soon have a significant impact on the dynamics of economic growth. Moreover, in surveys conducted exclusively for developed economies, expenditure on education had a considerably higher position in the probability rankings of economic determinants (Gazda and Puziak [60]). Despite the fact that this variable achieved the sixth position in the ranking among all analyzed countries, it suggests the need to monitor this variable in the future, so expenditure on education should be taken into account when planning sustainable economic policies to stimulate economic growth (Armeanu et al [6], Tvaronavičienė et al [7]).…”

“…The explanatory variables suggested here are chosen after many stages of selection. Firstly, the selection is made on the basis of a review of the literature on economic growth and convergence by Sala-i-Martin et al [19], as well as earlier empirical studies by Gazda and Puziak [60]. Secondly, the dataset is limited due to the accessibility of statistical data.…”

Macroeconomic determinants of permanent emigration from Romania. a Bayesian approach

“…Th e neoclassical economic theory admits diff erences in salaries between countries or regions that determine people to move from regions with high unemployment and low salaries to those with low unemployment and high salaries (Gazda, Puziak, 2013;Woźniak-Jęchorek, 2015). "Th e new economics of migration", an extension of neoclassical theory, consider families, households or other groups of people as unit of analysis instead of markets.…”

Bayesian Model Averaging in the Studies on Economic Growth in the EU Regions – Application of the gretl BMA package

“…Using the BMA (Bayesian Model Averaging) method a group of explanatory variables was proposed to determine potential factors responsible for differences in regional averages of GDP growth rate under a dynamic approach. The Bayesian approach was previously used in author's research Gazda and Puziak (2013) as well Błażejowski and Kwiatkowski (2013) and also in the economic studies by to identify the relationship between migration and economic growth and by to select the determinants of permanent migration in Romania. The Bayesian methods are good alternatives to traditional methods used, for example, by Albu (2013) to select foreign trade and FDI as determinants of economic growth or by Albu (2006) and also Albu and Roudoi (2003) to study the relationship between economic growth, investment and interest rate.…”