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PUBLIC SPENDING AND ECONOMIC GROWTH: AN EMPIRICAL ANALYSIS OF DEVELOPED COUNTRIES

100%
Acikgoz B., Cinar S.
Ekonomický časopis (Journal of Economics)
|
2017
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vol. 65
|
issue 5
448 – 458
EN
The purpose of this paper is to investigate the effects of public spending on economic growth and examine the sources of economic growth in developed countries since the 1990s. This paper analyses whether public spending effect on economic growth based on Cobb-Douglas Production Function with the two econometric models with Autoregressive Distributed Lag (ARDL) and Dynamic Fixed Effect (DFE) for 21 developed countries (high-income OECD countries), over the period 1990 – 2013. In comparison to similar empirical studies, our paper will add to the existing literature by extending the sample of developed countries and providing the latest empirical evidence for non-linear and structural breaks. Our model results are parallel to each other and the models support that public spending has an important role for economic growth. This result is accurate with theories and previous empirical studies.
2

IMPACT OF MACROECONOMIC INDICATORS ON MORTGAGE LOANS IN THE V4

75%
Krkošková R., Szkorupová Z.
Ekonomický časopis (Journal of Economics)
|
2021
|
vol. 69
|
issue 6
627 – 646
EN
The aim of this article is to analyse the impact of selected macroeconomic indicators on mortgage loans in the V4. This group of countries was chosen because they are close, both geographically and economically. This paper tries to find reasons for possible differences or similarities between the Czech Republic, Slovakia, Poland and Hungary. The article analyses whose of the macroeconomic variables (GDP, inflation, the unemployment rate, and mortgage interest rate) affect the volume of mortgage loans. The article uses the tools of time series econometrics, especially the ADF test, Autoregressive Distributed Lag (ARDL) model, Error Correction Model (ECM), and the Granger causality test. It was found that there is a short-term relationship between the volume of mortgage loans and GDP for all countries, except Poland. Over a longer time series, however, a long-term relationship exists for all of countries between the volume of mortgage loans and GDP, the mortgage interest rate, and the unemployment rate. The used data is based on a quarterly time series running from 2005Q1 to 2019Q4.
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