Original scientific paper
https://doi.org/10.18045/zbefri.2022.1.29
Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19
Bardhyl Dauti
orcid.org/0000-0001-8372-9443
Shiret Elezi
Full text: croatian pdf 1.490 Kb
page 29-61
downloads: 488
cite
APA 6th Edition
Dauti, B. & Elezi, S. (2022). Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19. Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, 40 (1), 29-61. https://doi.org/10.18045/zbefri.2022.1.29
MLA 8th Edition
Dauti, Bardhyl and Shiret Elezi. "Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19." Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, vol. 40, no. 1, 2022, pp. 29-61. https://doi.org/10.18045/zbefri.2022.1.29. Accessed 24 Sep. 2026.
Chicago 17th Edition
Dauti, Bardhyl and Shiret Elezi. "Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19." Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business 40, no. 1 (2022): 29-61. https://doi.org/10.18045/zbefri.2022.1.29
Harvard
Dauti, B., and Elezi, S. (2022). 'Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19', Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, 40(1), pp. 29-61. https://doi.org/10.18045/zbefri.2022.1.29
Vancouver
Dauti B, Elezi S. Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19. Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business [Internet]. 2022 [cited 2026 September 24];40(1):29-61. https://doi.org/10.18045/zbefri.2022.1.29
IEEE
B. Dauti and S. Elezi, "Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19", Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, vol.40, no. 1, pp. 29-61, 2022. [Online]. https://doi.org/10.18045/zbefri.2022.1.29
Full text: english pdf 1.490 Kb
page 29-61
downloads: 811
cite
APA 6th Edition
Dauti, B. & Elezi, S. (2022). Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19. Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, 40 (1), 29-61. https://doi.org/10.18045/zbefri.2022.1.29
MLA 8th Edition
Dauti, Bardhyl and Shiret Elezi. "Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19." Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, vol. 40, no. 1, 2022, pp. 29-61. https://doi.org/10.18045/zbefri.2022.1.29. Accessed 24 Sep. 2026.
Chicago 17th Edition
Dauti, Bardhyl and Shiret Elezi. "Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19." Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business 40, no. 1 (2022): 29-61. https://doi.org/10.18045/zbefri.2022.1.29
Harvard
Dauti, B., and Elezi, S. (2022). 'Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19', Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, 40(1), pp. 29-61. https://doi.org/10.18045/zbefri.2022.1.29
Vancouver
Dauti B, Elezi S. Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19. Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business [Internet]. 2022 [cited 2026 September 24];40(1):29-61. https://doi.org/10.18045/zbefri.2022.1.29
IEEE
B. Dauti and S. Elezi, "Economic growth in the Central East European Union and the Western Balkan countries in the course of Stability and Growth Pact and COVID-19", Zbornik radova Ekonomskog fakulteta u Rijeci: časopis za ekonomsku teoriju i praksu / Proceedings of Rijeka Faculty of Economics: Journal of Economics and Business, vol.40, no. 1, pp. 29-61, 2022. [Online]. https://doi.org/10.18045/zbefri.2022.1.29
Abstract
This research aims to provide an empirical assessment of the relationship between
fiscal policy sustainability factors, like fiscal deficit and economic growth in the
Western Balkan countries and East European Union Countries, using panel-level
data for the yearly time span from 2000-2021. The empirical model provides the
impact of fiscal deficit, alongside other control variables like inflation, schooling,
total investments, trade openness, and output gap on economic growth in the
selected group of countries. For the purpose of research, we employed Static and
dynamic panel estimation techniques like Fixed Effects with Driscol and Kraay
standard errors and system GMM. The findings confirm that fiscal deficit has
significantly affected the growth level in both groups of countries. In addition,
when the fiscal deficit has interacted with the COVID-19 dummy, it appears as a
growth-enhancing factor. However, when the fiscal deficit interacts with the
Eurozone debt crisis period, it becomes a growth-deteriorating factor. Other
control variables like inflation, trade openness, total investments, and the output
gap are found important factors in explaining the growth performance of the
Central East European and Western Balkan countries.
Keywords
growth; fiscal policy; GDP; Western Balkan countries; public finances
Hrčak ID:
279904
URI
https://hrcak.srce.hr/279904
Publication date:
30.6.2022.
Article data in other languages:
croatian
Visits: 2.802
*
