Estimating sources of economic growth in the new EU countries

摘要

In this study we have analyzed the relationship between economic growth, exports and investments in six of the new member states of the European Union (Romania, Poland, Czech Republic, Bulgaria, Slovakia, Hungary). Their choice was motivated by structural similarities between them, by existence of a transition process to a market economy and of the same criteria for European Union accession. We have applied the methodology of the cointegration and vector error correction in a pool data group consists of six member states. The results obtained show greater influence of the investment on economic growth compared with that of the exports.