Effects of Internal and External Factors on Economic Growth in Emerging Economies: Evidence from CEE Countries

References

• Adams, S. 2009. “Foreign Direct Investment, domestic Investment and Economic Growth in Sub-Saharan Africa.” Journal of Policy Modeling 31 (6): 939–49. doi:10.1016/j.jpolmod.2009.03.003.
   Web of Science ®Google Scholar
• Aevoae, G. M., R. M. Dicu, and D. N. Mardiros. 2018. “How Do the Foreign Direct Investments Flow? The Case of the cross-border M&As in the European Union.” Journal of Accounting and Management Information Systems 17 (4): 641–62. doi:10.24818/jamis.2018.04007.
   Google Scholar
• Akinlo, A. 2004. “Foreign Direct Investment and Growth in Nigeria. An Empirical Investigation.” Journal of Policy Modeling 26 (5): 627–39. doi:10.1016/j.jpolmod.2004.04.011.
   Web of Science ®Google Scholar
• Albulescu, C. 2015. “Do Foreign Direct and Portfolio Investments Affect Long-term Economic Growth in Central and Eastern Europe?” Procedia Economics and Finance 23:507–12. doi: 10.1016/S2212-5671(15)00539-0.
   Google Scholar
• Almfraji, M. A., and M. K. Almsafir. 2014. “Foreign Direct Investment and Economic Growth Literature Review from 1994 to 2012.” Procedia-Social and Behavioral Sciences 129:206–13. doi: 10.1016/j.sbspro.2014.03.668.
   Google Scholar
• Armeanu, D. Ş., Ş. C. Gherghina, and G. Pasmangiu. 2019. “Exploring the Causal Nexus between Energy Consumption, Environmental Pollution and Economic Growth: Empirical Evidence from Central and Eastern Europe.” Energies 12 (19): 3704. doi:10.3390/en12193704
   Web of Science ®Google Scholar
• Awokuse, T. O. 2007. “Causality between Exports, imports, and Economic Growth: Evidence from Transition Economies.” Economics Letters 94 (3): 389–95. doi:10.1016/j.econlet.2006.08.025
   Web of Science ®Google Scholar
• Bakari, S. 2017a. “The Impact of Domestic Investment on Economic Growth: New Evidence from Malaysia.” Accessed March 22, 2022. https://mpra.ub.uni-muenchen.de/79436.
   Google Scholar
• Bakari, S. 2017b. “The Relationship between Export, Import, Domestic Investment and Economic Growth in Egypt: Empirical Analysis.” EuroEconomica 36 (2): 34–43.
   Google Scholar
• Balasubramanyam, V., M. Salisu, and D. Sapsford. 1996. “Foreign Direct Investment and Growth in EP and IS Countries.” The Economic Journal 106 (434): 92–105. doi:10.2307/2234933.
   Web of Science ®Google Scholar
• Batrancea, I., R. Mozi, L. Gaban, G. Fatacean, H. Tulai, I. Bircea, and M. Rus. 2020. “An Empirical Investigation on Determinants of Sustainable Economic Growth. Lessons from Central and Eastern European Countries.” Journal of Risk and Financial Management 13 (7): 146–61. doi:10.3390/jrfm13070146.
   Web of Science ®Google Scholar
• Bengoa, M., and B. Sanchez-Robles. 2003. “Foreign Direct Investment, economic Freedom and Growth: New Evidence from Latin America.” European Journal of Political Economy 19 (19): 529–45. doi:10.1016/S0176-2680(03)00011-9.
   Google Scholar
• Blejer, M. I., and M. Škreb, eds. 2006. Macroeconomic Stabilization Is Transition Economies. Cambridge, UK: Cambridge University Press.
   Google Scholar
• Blomstrom, M., R. Lipsey, and M. Zejan. 1992. “What explains developing country growth?” Accessed March 1, 2022. https://www.nber.org/papers/w4132.
   Google Scholar
• Bohle, D., and B. Greskovits. 2006. “Capitalism without Compromise: Strong Business and Weak Labor in Eastern Europe’s New Transnational Industries.” Studies in Comparative International Development 41 (1): 3–25. doi:10.1007/BF02686305.
   Web of Science ®Google Scholar
• Borensztein, E., J. De Gregorio, and J. W. Lee. 1998. “How Does Foreign Direct Investment Affect Economic Growth?” Journal of International Economics 45 (1): 115–35. doi:10.1016/S0022-1996(97)00033-0.
   Web of Science ®Google Scholar
• Bruszt, L. 2002. “Market Making as State Making: Constitutions and Economic Development in Post-Communist Eastern Europe.” Constitutional Political Economy 13 (1): 53–72. doi:10.1023/A:1013687107792.
   Google Scholar
• Caporale, G. M., C. Rault, A. D. Sova, and R. Sova. 2014. “Financial Development and Economic Growth: Evidence from 10 New European Union.” Members.”International Journal of Finance & Economics 20 (1): 48–60.
   Web of Science ®Google Scholar
• Chapman, K. 2015. “Economic Development and Female Labor Force Participation in the Middle East and North Africa: A Test of the U-Shape Hypothesis.” Gettysburg Economic Review 8:5–22.
   Google Scholar
• Choe, J. 2003. “Do Foreign Direct Investment and Gross Domestic Investment Promote Economic Growth?” Review of Development Economics 7 (1): 44–57. doi:10.1111/1467-9361.00174.
   Google Scholar
• Darrat, A., and J. Sarkar. 2009. “Growth Consequences of Foreign Direct Investment: Some Results for Turkey.” Journal of Economic Development 34 (2): 85–96. doi:10.35866/caujed.2009.34.2.004.
   Google Scholar
• De Mello, L. 1999. “Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data.” Oxford Economic Papers 51 (1): 133–51. doi:10.1093/oep/51.1.133.
   Web of Science ®Google Scholar
• Destek, M. A. 2020. “Investigation on the Role of Economic, Social, and Political Globalization on Environment: Evidence from CEECs.” Environmental Science and Pollution Research 27 (27): 33601–14. doi:10.1007/s11356-019-04698-x.
   PubMed Web of Science ®Google Scholar
• Destek, M. A., E. Balli, and M. Manga. 2016. “The Relationship between CO2 Emission, Energy Consumption, Urbanization and Trade Openness for Selected CEECs.” Research in World Economy 7 (1): 52–58. doi:10.5430/rwe.v7n1p52.
   Google Scholar
• Dicu, R. M., C. Toma, G. M. Aevoae, and D. N. Mardiros. 2019. “The Influence of Deal Value’s Determinants in Mergers and Acquisitions with Community Dimension: Some Empirical Evidence from the European Union.” Transformations in Business & Economics 18 (2A): 42–59.
   Web of Science ®Google Scholar
• Dogan, B., and M. Akyuz. 2017. “Female labor Force Participation Rate and Economic Growth in the Framework of Kuznets Curve: Evidence from Turkey.” Review of Economics and Business Studies 10 (1): 33–54. doi:10.1515/rebs-2017-0047.
   Google Scholar
• Dombi, A. 2013. “The Sources of Economic Growth and Relative Backwardness in the Central Eastern European Countries between 1995 and 2007.” Post-Communist Economies 25 (4): 425–47. doi:10.1080/14631377.2013.844927.
   Web of Science ®Google Scholar
• Durham, J. 2004. “Absorptive Capacity and the Effects of Foreign Direct Investment and Equity Foreign Portfolio Investment on Economic Growth.” European Economic Review 48 (2): 285–306. doi:10.1016/S0014-2921(02)00264-7.
   Web of Science ®Google Scholar
• Fischer, S., and R. Sahay. 2000. “The Transition Economies after ten Years”. Accessed March 1, 2022. https://www.nber.org/papers/w7664.
   Google Scholar
• Gelbuda, M., K. Meyer, and A Delios. 2008. “International Business and Institutional Development in Central and Eastern Europe.” Journal of International Management 14 (1): 1–11. doi:10.1016/j.intman.2007.05.011.
   Web of Science ®Google Scholar
• Ghazali, A. 2010. “Analyzing the Relationship between Foreign Direct Investment, Domestic Investment and Economic Growth for Pakistan.” International Research Journal of Finance and Economics 47:123–31.
   Google Scholar
• Gorodzeisky, A., and M. Semyonov. 2017. “Labor Force Participation, unemployment and Occupational Attainment among Immigrants in West European Countries.” PLoS ONE 12 (5): e0176856. doi:10.1371/journal.pone.0176856.
   PubMed Web of Science ®Google Scholar
• Gurgul, H., and L. Lach. 2014. “Globalization and Economic Growth: Evidence from Two Decades of Transition in CEE.” Economic Modelling 36:99–107. doi: 10.1016/j.econmod.2013.09.022.
   Web of Science ®Google Scholar
• Haddad, M., and A. Harrison. 1993. “Are There Positive Spillovers from Direct Foreign Investment?: Evidence from Panel Data for Morocco.” Journal of Development Economies 42 (1): 51–74. doi:10.1016/0304-3878(93)90072-U.
   Web of Science ®Google Scholar
• Hadri, K., and R. Larsson. 2005. “Testing for Stationarity in Heterogeneous Panel Data Where the Time Dimension Is Finite.” The Econometrics Journal 8 (1): 55–69. doi:10.1111/j.1368-423X.2005.00151.x.
   Web of Science ®Google Scholar
• Hagemejer, J., and J. andMućk 2018. “Unraveling the economic performance of the CEEC countries. The role of exports and global value chains”. Accessed June 11, 2022. https://www.nbp.pl/publikacje/materialy_i_studia/283_en.pdf.
   Google Scholar
• Hagemejer, J., and J. andMućk. 2019. “Export Led Growth and Its Determinants: Evidence from Central and Eastern European Countries.” The World Economy 42 (7): 1994–2025. doi:10.1111/twec.12790.
   Web of Science ®Google Scholar
• Hansen, H., and J. Rand. 2006. “On the Causal Links between FDI and Growth in Developing Countries.” The World Economy 29 (1): 21–41. doi:10.1111/j.1467-9701.2006.00756.x.
   Web of Science ®Google Scholar
• Hanushek, E. 2013. “Economic Growth in Developing Countries: The Role of Human Capital.” Economics of Education Review 37:204–12. doi: 10.1016/j.econedurev.2013.04.005.
   Web of Science ®Google Scholar
• Hermes, N., and R. Lensink. 2003. “Foreign Direct Investment, financial Development and Economic Growth.” The Journal of Development Studies 40 (1): 142–63. doi:10.1080/00220380412331293707.
   Web of Science ®Google Scholar
• Hlavacek, P., and B. Bal-Domańska. 2016. “Impact of Foreign Direct Investment on Economic Growth in Central and Eastern European Countries.” InzinerineEkonomika-Engineering Economics 27 (3): 294–303.
   Google Scholar
• Iamsiraroj, S. 2016. “The Foreign Direct investment-economic Growth Nexus.” International Review of Economics and Finance 42:116–33. doi: 10.1016/j.iref.2015.10.044.
   Web of Science ®Google Scholar
• Ionescu, R. V. 2015. “Foreign Direct Investment Vs Domestic Investment across the EuropeanUnion.” Case Study: Romania.”EuroEconomica 2 (34): 129–38.
   Google Scholar
• Iyke, B. 2017. “Does Trade Openness Matter for Economic Growth in the CEE Countries?” Review of Economic Perspectives 17 (1): 3–24. doi:10.1515/revecp-2017-0001.
   Web of Science ®Google Scholar
• Kentor, J. 1998. “The Long-term Effects of Foreign Investment Dependence on Economic Growth,1940-1990.” American Journal of Sociology 103 (4): 1024–46. doi:10.1086/231295.
   Web of Science ®Google Scholar
• Khaliq, A., D. Khan, S. Akbar, M. Hamayun, and B. Ullah. 2017. “FemaleLabor Market Participation and Economic Growth: The Case of Pakistan.” Journal of Social Science Studies 4 (2): 217–30. doi:10.5296/jsss.v4i2.11386.
   Google Scholar
• Lean, H., and B. Tan. 2011. “Linkages between Foreign Direct Investment, Domestic Investment and Economic Growth in Malaysia.” Journal of Economic Cooperation and Development 32 (4): 75–96.
   Google Scholar
• Li, X., and X. Liu. 2005. “Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship.” World Development 33 (3): 393–407. doi:10.1016/j.worlddev.2004.11.001.
   Web of Science ®Google Scholar
• Makki, S., and A. Somwaru. 2004. “Impact of Foreign Direct Investment and Trade on Economic Growth: Evidence from Developing Countries.” American Journal of Agricultural Economics 86 (3): 795–801. doi:10.1111/j.0002-9092.2004.00627.x.
   Web of Science ®Google Scholar
• Menyah, K., S. Nazlioglu, and Y. Wolde-Rufael. 2014. “Financial Development, trade Openness and Economic Growth in African Countries: New Insights from Panel Causality Approach.” Economic Modelling 37:386–94. doi: 10.1016/j.econmod.2013.11.044.
   Web of Science ®Google Scholar
• Michalet, Ch. (1997). “Strategies of multinationals and competition for foreign direct investment: The opening of central and eastern Europe”. Accessed March 15, 2022. https://elibrary.worldbank.org/doi/abs/10.1596/0-8213-4161-8.
   Google Scholar
• Mišun, J., and V. Tomšk. 2014. “Does Foreign Direct Investment Crowd in or Crowd Out Domestic Investment?” Eastern European Economics 40 (2): 38–56.
   Google Scholar
• Mohamed, M., K. Jit Singh, and C. Liew. 2017. “Impact of Foreign Direct Investment & Domestic Investment on Economic Growth of Malaysia.” Malaysian Journal of Economic Studies 50 (1): 21–35.
   Google Scholar
• Nair-Reichert, U., and D. Weinhold. 2001. “Causality Tests for cross-country Panels: A New Look at FDI and Economic Growth in Developing Countries.” Oxford Bulletin of Economics and Statistics 63 (2): 153–71. doi:10.1111/1468-0084.00214.
   Web of Science ®Google Scholar
• Nannicini, T., and A. Billmeier. 2011. “Economies in Transition: How Important Is Trade Openness for Growth.” Oxford Bulletin of Economics and Statistics 73 (3): 287–314. doi:10.1111/j.1468-0084.2010.00626.x.
   Web of Science ®Google Scholar
• Nwaogu, U. G., and M. J. Ryan. 2015. “FDI, Foreign Aid, Remittance and Economic Growth in Developing Countries.” Review of Development Economics 19 (1): 100–15. doi:10.1111/rode.12130.
   Web of Science ®Google Scholar
• OECD. 2007. “Glossary of Statistical Terms”. Accessed March 18 2022. https://stats.oecd.org/glossary.
   Google Scholar
• Papava, V. 2006. “Economic transition to European or post-Communist capitalism?” Accessed March 20, 2022. http://papava.info/publications/Papava_WP-1-06.pdf.
   Google Scholar
• Papava, V. 2010. “Economy of Post Communist Capitalism under the Financial Crisis.” Studies in Economics and Finance 27 (2): 135–47. doi:10.1108/10867371011048625.
   Google Scholar
• Pilinkiene, V. 2016. “Trade Openness, Economic Growth and Competitiveness. The Case of the Central and Eastern European Countries.” Engineering Economics 27 (2): 185–94. doi:10.5755/j01.ee.27.2.14013.
   Web of Science ®Google Scholar
• Prochniak, M. 2011. “Determinants of Economic Growth in Central and Eastern Europe: The Global Crisis Perspective.” Post-Communist Economies 23 (4): 449–68. doi:10.1080/14631377.2011.622566.
   Web of Science ®Google Scholar
• Radulescu, M., L. Serbanescu, and C. Sinisi. 2019. “Consumption Vs. Investments for Stimulating Economic Growth and Employment in the CEE Countries-a Panel Analysis.” Economic Research 32 (1): 2329–53.
   Google Scholar
• Rapacki, R., and M. Prochniak. 2009. “The EU enlargement and economic growth in the CEE new member countries.” Accessed March 25, 2022. https://ec.europa.eu/economy_finance/publications/pages/publication14295_en.pdf.
   Google Scholar
• Rodriguez, F., and D. Rodrik. 1999. “Trade Policy and Economic Growth: A Skeptic`s Guide to Cross-National Evidence.” Accessed March 12, 2022. https://www.nber.org/papers/w7081.
   Google Scholar
• Roman, M. D., and A. Padureanu. 2012. “Models of Foreign Direct Investments Influence On economic Growth: Evidence from Romania.” International Journal of Trade, Economics and Finance 3 (1): 25–29. doi:10.7763/IJTEF.2012.V3.167.
   Google Scholar
• Ruane, F., and A. Ugur. 2005. “Foreign Direct Investment and Productivity Spillovers in the Irish Manufacturing Industry: Evidence for Firm Level Panel Data.” International Journal of the Economics of Business 12 (1): 53–66. doi:10.1080/1357151042000323139.
   Google Scholar
• Shahid, M. 2014. “Impact of Labour Force Participation on Economic Growth in Pakistan.” Journal of Economics and Sustainable Development 5 (1): 89–93.
   Google Scholar
• Silajdzic, S., and E. andMehic. 2018. “Trade Openness and Economic Growth: Empirical Evidence from Transition Economies.” Trade and Global Market 2:9–23.
   Google Scholar
• Simionescu, M. 2018. “What Drives Economic Growth in Some CEE Countries?” Studia Universitatis Economics Series 28 (1): 46–56.
   Google Scholar
• Solomon, E. M. 2011. “Foreign Direct Investment, Host Country Factors and Economic Growth.” EnsayosRevista de Economia 30 (1): 41–70.
   Google Scholar
• Szkorupová, Z. 2015. “Relationship between Foreign Direct Investment and Domestic Investment in Selected Countries of Central and Eastern Europe.” Procedia Economics and Finance 23:1017–22. doi: 10.1016/S2212-5671(15)00350-0.
   Google Scholar
• Tah, K., C. Czerniak, A. Levine, K. Wiggin, and I. Osondu. 2021. “Foreign Trade and Economic Growth in South Africa.” Asia-Pacific Journal of Accounting & Economics 28 (4): 472-481.
   Web of Science ®Google Scholar
• Tang, S., E. Selvanathan, and S. Selvanathan. 2008. “Foreign Direct Investment,Domestic Investment and Economic Growth in China: A Time Series Analysis.” The World Economy 31 (10): 1292–309. doi:10.1111/j.1467-9701.2008.01129.x.
   Web of Science ®Google Scholar
• Teixeira, A., and A. Queiros. 2016. “Economic Growth, human Capital and Structural Change: A Dynamic Panel Data Analysis.” Research Policy 45 (8): 1636–48. doi:10.1016/j.respol.2016.04.006.
   Web of Science ®Google Scholar
• Tucker, J., A. Pacek, and A. Berinsky. 2002. “Transitional Winners and Losers: Attitudes toward EU Membership in Post-Communist Countries.” American Journal of Political Science 46 (3): 557–71. doi:10.2307/3088399.
   Web of Science ®Google Scholar
• Uhlenbruck, K., K. Meyer, and M. Hitt. 2003. “Organizational Transformation in Transition Economies: Resource-based and Organizational Learning Perspectives.” Journal of Management Studies 40 (2): 257–82. doi:10.1111/1467-6486.00340.
   Web of Science ®Google Scholar
• Ulasan, B. 2015. “Trade Openness and Economic Growth: Panel Evidence.” Applied Economics Letters 22 (2): 163–67. doi:10.1080/13504851.2014.931914.
   Web of Science ®Google Scholar
• UNCTAD. 1999. “World investment report: Foreign direct investment and the challenge of development.” Accessed March 10, 2022. https://unctad.org/system/files/official-document/wir1999_en.pdfr.
   Google Scholar
• Upreti, P. 2015. “Factors Affecting Economic Growth in Developing Countries.” Major Themes in Economics 17 (1): 37–54.
   Google Scholar
• Verhorn, C. L., and A. Vasarevici. 2011. “FDI and Macroeconomic Policies, Central and EasternEuropeanCountries.” Zagreb International Review of Economics & Business 14 (1): 23–34.
   Google Scholar
• Wacziarg, R., and K. W. Welch. 2008. “Trade Liberalization and Growth: New Evidence.” World Bank Economic Review 22 (2): 187–231. doi:10.1093/wber/lhn007.
   Web of Science ®Google Scholar
• Yakubu, M., B. Akanegbu, and G. Jelilov. 2020. “Labour Force Participation and Economic Growth in Nigeria.” Advances in Management & Applied Economics 10 (1): 1–14.
   Google Scholar