Multivariate time series models of development for countries with transitional economies and prospects for post-COVID growth

Seisembay Jumambayev (), Katarzyna Halicka, Almazhan Dzhulaeva, Guliya Ilyashova and Aidana Dosmbek
Additional contact information
Seisembay Jumambayev: Al-Farabi Kazakh National University
Katarzyna Halicka: Bialystok University of Technology
Almazhan Dzhulaeva: Al-Farabi Kazakh National University
Guliya Ilyashova: Al-Farabi Kazakh National University
Aidana Dosmbek: Al-Farabi Kazakh National University

E&M Economics and Management, 2025, vol. 28, issue 2, 1-24

Abstract: The study aims to compare the economic achievements of the Visegrad Group (V4), the Baltic states (B3), Central Asia (CA4) and Balkan states (BA5), Kazakhstan on their way to joining the group of developed countries and to analyze the dynamics of their economic development. The results of studying the average annual growth rates of gross domestic product on the example of V4, B3, and Kazakhstan allowed for establishing the main patterns and trends of economic development in the pre-crisis, crisis, and post-crisis periods. The econometric modeling results indicate that an increase in employment levels contributes to per capita GDP growth. In turn, higher expenditures on domestic capital formation, the development of export-oriented industries, and the enhancement of regional specialization contribute to a more sustainable economic growth trajectory, as well as improved labor productivity, higher wages, and reduced unemployment. Poland and the Czech Republic exemplify this economic model. The study data confirm the possibility of solving the problem of countries with transitional economies entry into the number of developed countries by 2050 if the relevant conclusions are made from the analysis of the successful practice of V4 and B3 countries’ development.

Keywords: Economic development; cointegrating regression; diversification; nonlinear growth; model (search for similar items in EconPapers)
JEL-codes: F00 F63 O10 (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.15240/tul/001/2025-2-001

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bbl:journl:v:28:y:2025:i:2:p:1-24

DOI: 10.15240/tul/001/2025-2-001

Access Statistics for this article

More articles in E&M Economics and Management from Technical University of Liberec, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Vendula Pospisilova ().