Determinants of economic growth in V4 countries and Romania

Simionescu, Mihaela; Lazányi, Kornélia; Sopková, Gabriela; Dobeš, Kamil; Balcerzak, Adam Przemysław

dc.title	Determinants of economic growth in V4 countries and Romania	en
dc.contributor.author	Simionescu, Mihaela
dc.contributor.author	Lazányi, Kornélia
dc.contributor.author	Sopková, Gabriela
dc.contributor.author	Dobeš, Kamil
dc.contributor.author	Balcerzak, Adam Przemysław
dc.relation.ispartof	Journal of Competitiveness
dc.identifier.issn	1804-171X Scopus Sources, Sherpa/RoMEO, JCR
dc.identifier.issn	1804-1728 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued	2017
utb.relation.volume	9
utb.relation.issue	1
dc.citation.spage	103
dc.citation.epage	116
dc.type	article
dc.language.iso	en
dc.publisher	Tomas Bata University in Zlín
dc.publisher	Univerzita Tomáše Bati ve Zlíně (UTB)	cs
dc.identifier.doi	10.7441/joc.2017.01.07
dc.relation.uri	https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=244&cp=
dc.subject	economic growth	en
dc.subject	V4 countries	en
dc.subject	FDI	en
dc.subject	human capital	en
dc.subject	R&D	en
dc.subject	investments in education	en
dc.description.abstract	The middle and long-term slowdown in growth dynamics could bring serious social and political problems for V4 countries (Czech Republic, Slovak Republic, Hungary, Poland) and Romania. It would threaten reaching benefits from potential of convergence process with the developed countries of the European Union. As a result, the V4 economies and Romania should find solutions to achieving a sustainable growth that is associated with an improvement of their international competitiveness. This paper provides an empirical analysis of factors that might determine a stable economic growth in the five mentioned countries. The empirical analysis conducted for the period of 2003-2016 employed Bayesian generalized ridge regression. The main results indicated that the FDI promoted economic growth in all countries, except the Slovak Republic. Only in the Czech Republic, the expenditure on education generated economic growth, while the expenditure on R&D had positive effects in Romania, Hungary and the Czech Republic.	en
utb.faculty	Faculty of Management and Economics
dc.identifier.uri	http://hdl.handle.net/10563/1007088
utb.identifier.obdid	43876667
utb.identifier.scopus	2-s2.0-85030654093
utb.identifier.wok	000411798900008
utb.source	j-orig
dc.date.accessioned	2017-07-25T08:54:56Z
dc.date.available	2017-07-25T08:54:56Z
dc.description.sponsorship	New National Excellence Program of the Ministry of Human Capacities
dc.rights	Attribution 4.0 International
dc.rights.uri	https://creativecommons.org/licenses/by/4.0/
dc.rights.access	openAccess
utb.contributor.internalauthor	Dobeš, Kamil
utb.fulltext.affiliation	Habilitated Dr. Mihaela Simionescu Romanian Academy, Institute for Economic Forecasting Calea 13 Septembrie 13, 76001 Bucharest, Romania Email: mihaela_mb1@yahoo.com Habilitated Dr. Kornélia Lazányi Óbuda University, Keleti Faculty of Business and Management Bécsi st., 96/b, 1034, Budapest, Hungary Email: lazanyi.kornelia@kgk.uni-obuda.hu Mgr. Ing. Gabriela Sopková, PhD. University of Economics in Bratislava Faculty of Commerce Dolnozemská cesta 1, 852 35 Bratislava, Slovak Republic Email: gabika.sopkova@gmail.com Ing. Kamil Dobeš, Ph.D. Tomas Bata University in Zlín Faculty of Management and Economics Mostní 5139, 760 01 Zlín, Czech Republic Email: dobes@fame.utb.cz Adam P. Balcerzak, PhD Nicolaus Copernicus University Faculty of Economic Sciences and Management Ul. Gagarina 13a 87-100 Toruń, Poland Email: adam.balcerzak@umk.pl
utb.fulltext.dates	-
utb.fulltext.sponsorship	This paper has been supported by the New National Excellence Program of the Ministry of Human Capacities.
utb.wos.affiliation	[Mihaela, Simionescu] Romanian Acad, Inst Econ Forecasting, Calea 13 Septembrie 13, Bucharest 76001, Romania; [Kornelia, Lazanyi] Obuda Univ, Keleti Fac Business & Management, Becsi St,96-B, H-1034 Budapest, Hungary; [Gabriela, Sopkova] Univ Econ Bratislava, Fac Commerce, Dolnozemska Cesta 1, Bratislava 85235, Slovakia; [Kamil, Dobes] Tomas Bata Univ Zlin, Fac Management & Econ, Mostni 5139, Zlin 76001, Czech Republic; [Balcerzak, Adam P.] Nicolaus Copernicus Univ, Fac Econ Sci & Management, Ul Gagarina 13a, PL-87100 Torun, Poland
utb.scopus.affiliation	Romanian Academy, Institute for Economic Forecasting Calea, 13 Septembrie 13, Bucharest, 76001, Romania; Óbuda University, Keleti Faculty of Business and Management, Bécsi st., 96/b, Budapest, 1034, Hungary; University of Economics in Bratislava, Faculty of Commerce, Dolnozemská cesta 1, Bratislava, 852 35, Slovakia; Tomas Bata University in Zlín, Faculty of Management and Economics, Mostní 5139, Zlín, 760 01, Czech Republic; Nicolaus Copernicus University, Faculty of Economic Sciences and Management, Ul. Gagarina 13a, Toruń, 87-100, Poland