Investment dynamics in Central and Eastern Europe: Why doesn’t the sun always rise from the east?

Estefanía Mourelle () and Juan Cuestas
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Estefanía Mourelle: Department of Economics, Universidade da Coruña, Spain

No 2022/02, Working Papers from Economics Department, Universitat Jaume I, Castellón (Spain)

Abstract: The aim of this paper is to shed some light on the issue of the dynamics of investment in Central and Eastern European Countries (CEECs). The role that investment plays in the economic development is of particular interest in these countries, as, on the one hand, they have experienced a transition to market economies and, on the other hand, they have entered the European Union. This study contributes to the related literature by resorting to nonlinear models, which give us a better understanding of the behaviour of the dynamics of investment, in comparison to linear specifications. Our results evidence the importance of the macroeconomic conditions on the dynamics of investment in CEECs, particularly its own recent history and the cyclical state of the economy.

Keywords: Investment; Global Financial Crisis; Central and Eastern Europe; Nonlinearities (search for similar items in EconPapers)
JEL-codes: C22 F15 (search for similar items in EconPapers)
Pages: 20 pages
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:jau:wpaper:2022/02

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