Export-led growth: the case of the Slovenian and Estonian economies

Abstract

The export-led growth hypothesis is investigated in the case of the two small, open and export-oriented Slovenian and Estonian economies. The Johansen cointegration test and Granger causality test were applied to investigate the relationship between the time series variables for export, import and gross domestic product (GDP). The results reveal evidence to support the export-led growth hypothesis in both economies. The Granger causality relationship is found between export growth and economic (GDP) growth for both countries. Slovenia and Estonia can enhance economic growth by providing a better enabling environment for exporters and by market expansion.

The investment behaviour of dairy farms in transition economies

“…Therefore, it is important that policy changesfrom investment grants to refundable investment support in the form of loans from financial instrumentsincrease the weight awarded to the productivity and efficiency of dairy farms. In a spite of being small, open and export-oriented economies (Trošt & Bojnec, 2016), the persistence of SBC in the dairy farms of the analysed BCE transition economies has not been abolished, particularly not in Estonia since the break-up of the Soviet Union, with the transition from a centrally planned to a market economy, and the introduction of CAP subsidies with EU enlargement. Dairy farms may not only play an important role in the farming structures of the analysed BCE transition economies; they might also contribute to some other income-, employment-and sustainability-related objectives of agricultural and rural development policies aimed at maintaining land cultivation in remote, hilly and mountainous areas, and to safeguarding the maintenance of permanent grasslands (Viira et al, 2020a).…”

Migrant remittances and their impact on the economic development of the Baltic states

“…Having chosen the pathway to full European integration process, the Baltic States faced many economic and political issues (many of them related to the EU Enlargement) which uncovered the weaknesses of their financial systems, economic policies, and social security systems. Nevertheless, after the EU Accession in 2004, the Baltic economies demonstrated rapid economic growth: in 2006, the real GDP growth rate in Latvia was 11.9%, in Estonia it constituted 10.3%, and in Lithuania it was recorded to be at 7.4% (Trošt & Bojnec, 2016). But the foundations of the Baltic economies were not stable, and the financial and economic crisis clearly demon-strated their weaknesses.…”

How far is FDI relevant to India’s foreign trade growth? An empirical investigation

“…In the subsequent period, India, by gradually liberalizing various trading barriers and accepting the idea of export-led economic growth, managed to attain an average annual growth rate of around 5% for the period of 1981 to 1991. Concurrently, the development economists and academicians worldwide like Feder (1982), Krueger (1990) and Trost and Bojnec (2016) have accepted the exportled economic growth hypothesis. However, despite profound effects on the economic growth and foreign trading status witnessed by other emerging and emerged economies, the concept of FDI-led economic growth has still remained ambiguous and vexing for the Indian policymakers until 1993-1994.…”