Two Deficits and Economic Growth: Case of CEE Countries in Transition

Gurgul, Henryk

doi:10.7494/manage.2012.12.79

Cited by 4 publications

(4 citation statements)

References 31 publications

(44 reference statements)

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“…It is worth mentioning that our findings are broadly parallel to the empirical findings of several earlier studies, including Dewald and Ulan (1990) and Rahmann and Mishra (1992) for the US, Kaufmann et al (2002) for Austria, Abbas et al (2010) for 124 countries, Kıran (2011) for Turkey, and Ogbonna (2014) for South Africa. Further, our findings are consistent with all but a limited number of studies on post-communist transitions countries, specifically Gurgul and Lach (2012), Aristovnik and Djurić (2013), and Gabrisch (2015).…”

Section: Discussionsupporting

confidence: 90%

“…Indeed, there are only a handful of studies analyzing the twin deficits hypothesis for these countries. To our knowledge, with the exception of a few single-country studies, the big-picture works are limited to the studies of Fidrmuc (2003), Gurgul and Lach (2012), Aristovnik and Djurić (2013), Tosun et al (2014), and Gabrisch (2015). In all cases except Fidrmuc (2003), these studies yield results that favor the Ricardian view.…”

Section: Hüseyin şEn and Ayşe Kayamentioning

confidence: 98%

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Are the Twin or Triple Deficits Hypotheses Applicable to Post-Communist Countries?

Şen

Kaya

2016

SSRN Journal

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This study empirically examines the validity of the twin and triple deficits hypotheses using bootstrap panel Granger causality analysis and an annual panel data set of six post-communist countries (Russia, Poland, Ukraine, Romania, the Czech Republic, and Hungary) from 1994 to 2012. Our findings, based on panel data analysis under cross-sectional dependence and country-specific heterogeneity, support neither the twin deficits hypothesis nor its extended version, the triple deficits hypothesis, for any of the countries considered. In other words, we find no Granger-causal relationship between budget deficits and trade (or current account) deficits or among budget deficits, private savings-investment deficits, and trade deficits.

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Section: Discussionsupporting

confidence: 90%

Section: Hüseyin şEn and Ayşe Kayamentioning

confidence: 98%

Are the Twin or Triple Deficits Hypotheses Applicable to Post-Communist Countries?

Şen

Kaya

2016

SSRN Journal

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“…These findings are broadly parallel those of similar studies conducted for non-post-communist countries. Moreover, our findings are in concordance with all but a limited number of studies regarding this subject on post-communist countries, specifically Gurgul and Lach (2012), Aristovnik and Djurić (2013), and Gabrisch (2015).…”

Section: Closing Remarkssupporting

confidence: 91%

“…Indeed, there are only a handful of studies that examine the twin deficits hypothesis for these countries. To the best of our knowledge, with the exception of a few singlecountry studies, the bigpicture works are limited to the studies of Fidrmuc (2003), Henryk Gurgul and Łukasz Lach (2012), Aleksander Aristovnik and Sandra Djurić (2013), M. Umur Tosun, Pelin Varol İyidoğan, and Erdinç Telatar (2014), and Hubert Gabrisch (2015). With exception of Fidrmuc (2003), all these studies yielded results supporting the Ricardian view.…”

Section: Review Of the Empirical Literaturementioning

confidence: 99%

Are the twin or triple deficits hypotheses applicable to post-communist countries?

Şen

Kaya

2020

Panoeconomicus

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This study examines the validity of the twin or triple deficits hypotheses using bootstrap panel Granger causality analysis and an annual panel dataset of six postcommunist countries (Russia, Poland, Ukraine, Romania, the Czech Republic, and Hungary) during the period from 1994 to 2015. The results corroborate neither the validity of the twin deficits hypothesis nor its extended version, the triple deficits hypothesis, for any of the sample countries. In other words, we find no Granger causal relationship between budget deficits and external (trade or current account) deficits or among budget deficits, private savings-investment deficits, and external deficits in the countries examined. On the basis of these results, we reject the Keynesian view of the twin or triple deficits hypotheses. Rather, we confirm the Ricardian view.

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Inflation targeting at the crossroads: Evidence from post-communist economies during the crisis

Petreski

2014

Communist and Post-Communist Studies

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The objective of this paper is to assess if inflation targeting post-communist economies performed better, in terms of output growth, during the crisis than their non-inflation targeting counterparts. The paper also puts the issue in the context of the preconditions of inflation targeters to adopt this regime. post-communist economies of Central and Eastern Europe and the Commonwealth of IndependentStates are analyzed during the ongoing economic crisis. Results suggest that inflation targeters of those countries performed worse than non-inflation targeters. The growth decline in inflation targeters post-communist economies has been estimated to be deeper by about four percentage points than that in non-inflation targeters. The study finds very limited role of the preconditions for growth decline.Only the lower amount of monetary financing of the budget may have contributed in inflationtargeting countries to have gone through the crisis better.

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Two Deficits and Economic Growth: Case of CEE Countries in Transition

Cited by 4 publications

References 31 publications

Are the Twin or Triple Deficits Hypotheses Applicable to Post-Communist Countries?

Are the Twin or Triple Deficits Hypotheses Applicable to Post-Communist Countries?

Are the twin or triple deficits hypotheses applicable to post-communist countries?

Inflation targeting at the crossroads: Evidence from post-communist economies during the crisis

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