Economic Growth and its determinants: Empirical investigation.

      Аннотация: In a modern world economic growth used to measure economic and in some cases political power of the countries. For that reason, it is necessary to analyse the determinants which make a dramatic impact on economic growth in order to stabilize economic performance of the governments and gain to long term and sustainable development. This book examines the role of macroeconomic determinants in economic growth through inflation, unemployment, trade, government expenditure, exchange rate and gross capital formation by using econometric methods. The data consist of 92 countries and the period from 1990 to 2006. The results show that macroeconomic determinants make a significant impact on economic growth.

Ключевые слова: Economic Growth, Econometric Model, Fixed effect model, Random Effect Model, Recardian model, Infliation, Unemplyment