Investment dynamics in Central and Eastern Europe: A nonlinear approach
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Investment dynamics in Central and Eastern Europe: A nonlinear approachDate
2023Citation
Mourelle, E.; Cuestas, J. C. (2023). Investment dynamics in Central and Eastern Europe: A nonlinear approach, Post-Communist Economies, 35(5), 496-512. DOI: 10.1080/14631377.2023.2209296.
Abstract
[Abstract]: The aim of this paper is to understand the dynamics of investment in
Central and Eastern European Countries (CEECs). The role that
investment plays in the economic development is of particular
interest in these countries, as, on the one hand, they have experienced
a transition to market economies and, on the other hand, they have
joined the European Union. This study contributes to the related
literature by resorting to nonlinear models, which give us a better and
more flexible understanding of the behaviour of the dynamics of
investment, in comparison to linear specifications. The aim is to
analyse which economic fundamentals are behind the nonlinear
behaviour, as stated by the theoretical literature, of our variable of
interest. Our results evidence the importance of the macroeconomic
conditions on the dynamics of investment in CEECs, particularly its
own recent history and the cyclical state of the economy.
Keywords
Investment
Global Financial Crisis
Central and Eastern Europe
Nonlinearities
Global Financial Crisis
Central and Eastern Europe
Nonlinearities
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Atribución-NoComercial-SinDerivadas 4.0
ISSN
1465-3958