EVALUATING MACROECONOMIC FACTORS AND THEIR INFLUENCE ON ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM WESTERN BALKAN ECONOMIES

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Erëza A. Arifi

Abstract

This research aimed to identify and evaluate the impact of some macroeconomic components on economic growth performance. The data applied in the analysis were secondary data, including six countries from 2005 to 2020. The econometric approach applied was the fixed effect regression approach to economic growth as a dependent variable. The study also applied several diagnostic tests and the Hausman test to select between fixed and random effects. The data provided after the analysis show that inflation and foreign direct investment have a significant positive impact, while public debt has a significant negative impact. Moreover, unemployment and population growth have shown statistically insignificant results. The study from the aspect of the original contribution provides arguments and applies two variables that are very little addressed in the context of economic growth. The study results provide critical information for policymakers, economists, and researchers and provide arguments for a sound and proactive debate on these variables. 

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How to Cite
Arifi, Erëza A. 2022. “EVALUATING MACROECONOMIC FACTORS AND THEIR INFLUENCE ON ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM WESTERN BALKAN ECONOMIES”. Journal of Liberty and International Affairs 8 (2):21-34. https://doi.org/10.47305/JLIA2282021a .
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Author Biography

Erëza A. Arifi, College for International Management - Prishtina, Kosovo

Ereza Arifi completed her doctoral studies at the Faculty of Economics, at the University of Tirana in the Department of Finance. She started her professional career in the teaching process in 2018, at the College of International Management - GLOBUS and there she earned the academic title of Assistant Professor PhD. in the subjects: Corporate Finance, Banking Management, and Public Finance. So far, she has published several papers with international indexing, and two of them are indexed in Scopus. Mrs. ARIFI has shown professional skills in other government institutions, where she was the Manager of the Procurement Department within the Ministry of Infrastructure from 2010 to 2018. She has a considerable number of scientific publications international reviews, mainly in the field of finance.