<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The study examines the effect of sets of determinants of economic growth, which are widely emphasised in the literature, in a group of 27 selected post-Soviet, post-communist and transition countries from Central and Eastern Europe, the former Soviet Union, and Mongolia during 1997–2017. The set of baseline variables includes, among others, trade openness, investment rate, public consumption spending, and selected demographic factors. The methodology uses panel data and it is supported by multivariate statistical methods of grouping objects. The panel data provides results that are mainly consistent with the literature review. However, the effects of demographic factors are rather not significant, but the role of investment has been emphasised. In turn, the multivariate statistical approaches indicate the shifts in regional (dis)similarity between the analysed countries with respect to the performance of the selected variables over the last 20 years.</p>
</abstract>

The study examines the effect of sets of determinants of economic growth, which are widely emphasised in the literature, in a group of 27 selected post-Soviet, post-communist and transition countries from Central and Eastern Europe, the former Soviet Union, and Mongolia during 1997–2017. The set of baseline variables includes, among others, trade openness, investment rate, public consumption spending, and selected demographic factors. The methodology uses panel data and it is supported by multivariate statistical methods of grouping objects. The panel data provides results that are mainly consistent with the literature review. However, the effects of demographic factors are rather not significant, but the role of investment has been emphasised. In turn, the multivariate statistical approaches indicate the shifts in regional (dis)similarity between the analysed countries with respect to the performance of the selected variables over the last 20 years.

Economic Performance in Post-Soviet and Post-Communist Countries – Evidence from Panel Data and Multivariate Statistical Analysis

South East European Journal of Economics and Business

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

The study examines the effect of sets of determinants of economic growth, which are widely emphasised in the literature, in a group of 27 selected post-Soviet,...

Economic Performance in Post-Soviet and Post-Communist Countries – Evidence from Panel Data and Multivariate Statistical Analysis

Published Online: Dec 30, 2021

Page range: 1 - 16

DOI: https://doi.org/10.2478/jeb-2021-0011

Keywords
Panel data, post-Soviet countries, transition countries, post-communist countries, multivariate approach

© 2021 Agata Szymańska, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Economic Performance in Post-Soviet and Post-Communist Countries – Evidence from Panel Data and Multivariate Statistical Analysis

Published Online: Dec 30, 2021

Page range: 1 - 16

DOI: https://doi.org/10.2478/jeb-2021-0011

KeywordsPanel data, post-Soviet countries, transition countries, post-communist countries, multivariate approach

© 2021 Agata Szymańska, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
Panel data, post-Soviet countries, transition countries, post-communist countries, multivariate approach