An Analysis of Economic Growth for Major Advanced Economies

Hakan Altin
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Hakan Altin: University of Aksaray, Turkey

International Journal of Risk and Contingency Management (IJRCM), 2022, vol. 11, issue 1, 1-22

Abstract: The study's main aim is an analysis of economic growth in G7 countries. The period examined in the study in which annual data was used covers 2001-2021. For this purpose, a panel data analysis was conducted. Economic growth is a function of account balance, employment, inflation, and investment, and there is a positive relationship between economic growth and employment and between inflation and investment. Conversely, there is a negative relationship between economic growth and account balance. The results are statistically significant. The highest contribution to economic growth in G7 countries comes from technological innovations. Economic growth is a dynamic area. Many factors affect economic growth, including geography, democracy, market form and technology, and cultural and religious factors. For this reason, economic growth covers a broad study area.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:igg:jrcm00:v:11:y:2022:i:1:p:1-22

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