- Author
- Balliu Jonida (University of Gdańsk, Poland), Brodzicki Tomasz (University of Gdańsk, Poland)
- Title
- Impact of Economic Growth and Inflation on the Unemployment Rate - Evidence from the Balkan Region
- Source
- International Business and Global Economy, 2022, nr 41, s. 79-96, bibliogr. 56 poz.
Biznes Międzynarodowy w Gospodarce Globalnej - Issue title
- The Selected Economic Issues of International Markets
- Keyword
- Bezrobocie, Stopa bezrobocia, Wzrost gospodarczy, Inflacja, Prawo Okuna, Krzywa Phillipsa
Unemployment, Unemployment rate, Economic growth, Inflation, Okun's Law, Phillips curve - Note
- JEL Classification: M14, G31, C22, O43, E24
summ. - Country
- Bałkany, Kraje bałkańskie
Balkan, Balkan countries - Abstract
- Research in the strand of unemployment has attracted much attention in the last two decades due to its close link with macroeconomic development as confirmed by many theoretical and empiri- cal endeavours. However, in the context of the Balkan region, empirical investigations are rare, and this study strives to fill this gap. For this purpose, the research examines the impact of eco- nomic growth and inflation on the unemployment rate. Our evidence is based on a sample of 11 countries of the Balkan region over the period 2000-2021. Our robust panel regression analysis, using static models such as the Dricroll-Kraray standard errors approach, feasible generalized least square estimations, seemingly unrelated regression, and dynamic panel estimation models, reveals that economic development and inflation reduce the unemployment rate. Theoretically, the findings mainly support Okun's Law and the Phillips curve hypothesis. Our findings suggest that policymakers may design policies to ensure equitable and sustainable economic develop- ment and a balanced monetary policy to reduce the unemployment rate in the Balkan region.(original abstract)
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- Cited by
- ISSN
- 2300-6102
- Language
- pol
- URI / DOI
- https://doi.org/10.26881/ibage.2022.41.05