Export Complexity and Economic Growth: Empirical Analysis for Selected CEE Countries
The principal objective of the paper is to test the hypothesis that export sophistication (complexity) rather than the volume of exports has a more robust impact on economic growth. We applied a dynamic panel specification model (system GMM) to a sample of 22 selected CEE countries in the 2009–2019...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
The Institute of Economics, Zagreb
2023-01-01
|
| Series: | Croatian Economic Survey |
| Subjects: | |
| Online Access: | https://hrcak.srce.hr/file/451437 |
| _version_ | 1827281579332861952 |
|---|---|
| author | Darko Lazarov Goce Petreski |
| author_facet | Darko Lazarov Goce Petreski |
| author_sort | Darko Lazarov |
| collection | DOAJ |
| description | The principal objective of the paper is to test the hypothesis that export sophistication (complexity) rather than the volume of exports has a more robust impact on economic growth. We applied a dynamic panel specification model (system GMM) to a sample of 22 selected CEE countries in the 2009–2019 period. Estimated research results suggest that export still plays a significant role in determining economic growth in these countries. However, the analysis shows that export sophistication (complexity) has a predominant role in stimulating economic growth for the observed sample of countries. In addition to the main focus of the paper, estimated results show that FDI inflows have a positive and statistically significant direct and indirect impact on economic growth. Moreover, the results indicate that, apart from the direct effects of export sophistication on economic growth, it has an additional positive effect on export performance through structural transformation. When comparing the impact of export sophistication on economic growth, the difference between EU and non-EU economies seems to be mostly insignificant. |
| first_indexed | 2024-04-24T09:02:33Z |
| format | Article |
| id | doaj.art-178a1e951b604ed08bf6a1e3c4699a86 |
| institution | Directory Open Access Journal |
| issn | 1330-4860 1846-3878 |
| language | English |
| last_indexed | 2024-04-24T09:02:33Z |
| publishDate | 2023-01-01 |
| publisher | The Institute of Economics, Zagreb |
| record_format | Article |
| series | Croatian Economic Survey |
| spelling | doaj.art-178a1e951b604ed08bf6a1e3c4699a862024-04-15T19:13:05ZengThe Institute of Economics, ZagrebCroatian Economic Survey1330-48601846-38782023-01-01252416510.15179/ces.25.2.2Export Complexity and Economic Growth: Empirical Analysis for Selected CEE CountriesDarko Lazarov0Goce Petreski1University “Goce Delchev” – Shtip, North MacedoniaFaculty of Economics, University “Ss. Cyril and Methodius” – Skopje, North Macedonia; Macedonian Academy of Science and ArtsThe principal objective of the paper is to test the hypothesis that export sophistication (complexity) rather than the volume of exports has a more robust impact on economic growth. We applied a dynamic panel specification model (system GMM) to a sample of 22 selected CEE countries in the 2009–2019 period. Estimated research results suggest that export still plays a significant role in determining economic growth in these countries. However, the analysis shows that export sophistication (complexity) has a predominant role in stimulating economic growth for the observed sample of countries. In addition to the main focus of the paper, estimated results show that FDI inflows have a positive and statistically significant direct and indirect impact on economic growth. Moreover, the results indicate that, apart from the direct effects of export sophistication on economic growth, it has an additional positive effect on export performance through structural transformation. When comparing the impact of export sophistication on economic growth, the difference between EU and non-EU economies seems to be mostly insignificant.https://hrcak.srce.hr/file/451437export complexityeconomic growthGMM panel regressionCEE countries |
| spellingShingle | Darko Lazarov Goce Petreski Export Complexity and Economic Growth: Empirical Analysis for Selected CEE Countries Croatian Economic Survey export complexity economic growth GMM panel regression CEE countries |
| title | Export Complexity and Economic Growth: Empirical Analysis for Selected CEE Countries |
| title_full | Export Complexity and Economic Growth: Empirical Analysis for Selected CEE Countries |
| title_fullStr | Export Complexity and Economic Growth: Empirical Analysis for Selected CEE Countries |
| title_full_unstemmed | Export Complexity and Economic Growth: Empirical Analysis for Selected CEE Countries |
| title_short | Export Complexity and Economic Growth: Empirical Analysis for Selected CEE Countries |
| title_sort | export complexity and economic growth empirical analysis for selected cee countries |
| topic | export complexity economic growth GMM panel regression CEE countries |
| url | https://hrcak.srce.hr/file/451437 |
| work_keys_str_mv | AT darkolazarov exportcomplexityandeconomicgrowthempiricalanalysisforselectedceecountries AT gocepetreski exportcomplexityandeconomicgrowthempiricalanalysisforselectedceecountries |