Two Deficits and Economic Growth: Case of CEE Countries in Transition

Are the Twin or Triple Deficits Hypotheses Applicable to Post-Communist Countries?

“…It is worth mentioning that our findings are broadly parallel to the empirical findings of several earlier studies, including Dewald and Ulan (1990) and Rahmann and Mishra (1992) for the US, Kaufmann et al (2002) for Austria, Abbas et al (2010) for 124 countries, Kıran (2011) for Turkey, and Ogbonna (2014) for South Africa. Further, our findings are consistent with all but a limited number of studies on post-communist transitions countries, specifically Gurgul and Lach (2012), Aristovnik and Djurić (2013), and Gabrisch (2015).…”

“…Indeed, there are only a handful of studies analyzing the twin deficits hypothesis for these countries. To our knowledge, with the exception of a few single-country studies, the big-picture works are limited to the studies of Fidrmuc (2003), Gurgul and Lach (2012), Aristovnik and Djurić (2013), Tosun et al (2014), and Gabrisch (2015). In all cases except Fidrmuc (2003), these studies yield results that favor the Ricardian view.…”

Are the twin or triple deficits hypotheses applicable to post-communist countries?

“…These findings are broadly parallel those of similar studies conducted for non-post-communist countries. Moreover, our findings are in concordance with all but a limited number of studies regarding this subject on post-communist countries, specifically Gurgul and Lach (2012), Aristovnik and Djurić (2013), and Gabrisch (2015).…”

“…Indeed, there are only a handful of studies that examine the twin deficits hypothesis for these countries. To the best of our knowledge, with the exception of a few singlecountry studies, the bigpicture works are limited to the studies of Fidrmuc (2003), Henryk Gurgul and Łukasz Lach (2012), Aleksander Aristovnik and Sandra Djurić (2013), M. Umur Tosun, Pelin Varol İyidoğan, and Erdinç Telatar (2014), and Hubert Gabrisch (2015). With exception of Fidrmuc (2003), all these studies yielded results supporting the Ricardian view.…”

LIMEN - International Scientific-Business Conference - Leadership, Innovation, Management and Economics: Integrated Politics of Research

“…They conclude that the degree of monetary freedom significantly influences the growth of real GDP, albeit the relationship weakens after the 2008 global economic crisis. Gurgul and Lach (2011) also perform an empirical estimation on a similar sample of Central and Eastern European countries in transition over 2000-2009, concluding that monetary freedom is among the areas that can be considered especially important for economic growth. The same conclusion is reached also by Peev and Mueller (2012), who find that monetary freedom is among the most significant components of the Index of Economic Freedom for GDP per capita growth in transition countries.…”