International Congress on Eurasian Economies
26-28 June 2024 – Bishkek, KYRGYZSTAN
Paper properties
Paper ID : 2946
Status : Paper accepted
Language : English
Topic : Growth and Development
Presenter: Asst. Prof. Dr. Mert Gül
Session : 2A Macroeconomics
The Comprehensive Impact of Macroeconomic and Financial Indicators on Economic Growth: A Case of Eight Eurasian Countries
The Comprehensive Impact of Macroeconomic and Financial Indicators on Economic Growth: A Case of Eight Eurasian Countries
- Asst. Prof. Dr. Mert Gül (Istanbul Beykent University, Türkiye)
Abstract
This study examines the multifaceted determinants of GDP growth in eight Eurasian countries, focusing on the interplay of macroeconomic and financial indicators, labor markets, demographics, and trade. The research aims to provide a comprehensive analysis of the factors influencing economic growth in the Eurasian region and to offer insights for policymakers. Using panel data analysis over a specific time span between 1993 to 2020, the study investigates the individual and collective impact of these factors on GDP growth, considering country-specific effects and time trends. The expectations on macroeconomic stability, including low inflation rates and high industrial concentration in domestic GDP, is crucial for promoting GDP growth. Additionally, labor market dynamics as unemployment levels, is expected to have a substantial impact on economic growth. The study also emphasizes the importance of demographic trends, such as population growth and urbanization, in driving GDP growth. Furthermore, trade openness and financial market development are anticipated to have positive effects on GDP growth in the Eurasian region. These expectations underscore the complex nature of economic growth in Eurasian countries and the empirical results imply that policymakers should consider a comprehensive approach that addresses various factors to promote sustainable economic development in the long run.
JEL codes: F43, E31, C23
