Empirical estimation of transmission mechanisms of the global economic crisis spill-over in the South-East European economics

Lazarov, Darko and Petreski, Goce (2015) Empirical estimation of transmission mechanisms of the global economic crisis spill-over in the South-East European economics. The Journal of Young Economists, 5 (1).

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Abstract

The aim of the paper is to investigate the impact of financial crisis on the SouthEast European economies, throughout a series of econometric tests of a range of transmission mechanisms. Aggregate macroeconomic relationships might contain offset mechanisms (budget deficits, foreign and domestic debt increase). The framework of analysis has no an objective to look into the internal mechanics of growth of national economies, elasticity and substitutions, positions in income distribution, Okun’s law over the business cycle and related reverse linkages. Moreover, the paper has no ambitions to scrutinize the statistical or administrative and methodology changes domestic deficits, types of subsidies and other exogenous interventions in the incumbent period, which may significantly influence levels of any economic variables and consequently distort the general conclusions.

Item Type: Article
Uncontrolled Keywords: financial crisis, South-East European economies, economic growth
Subjects: Social Sciences > Economics and business
Divisions: Faculty of Economics
Depositing User: Darko Lazarov
Date Deposited: 15 Dec 2015 11:19
Last Modified: 15 Dec 2015 11:19
URI: http://eprints.ugd.edu.mk/id/eprint/14538

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