IMPACT OF EXPORTS AND INVESTMENTS ON ECONOMIC GROWTH
DOI:
https://doi.org/10.7251/ZREFIS2326011SKeywords:
exports, investments, economic growthAbstract
Countries around the world, including N. Macedonia, design industrial policies in order to stimulate exports under the assumption that exports bring positive effects on economic growth in the short and long term. In order to test this assumption, this paper examines the relationship between exports, private investments and economic growth in North Macedonia through time series analysis for the period 2000-2019. We find that exports and private investment have a strong impact on economic growth in the short term, while exports have limited short-term effects on investment in the past period. The results indicate the need for structural measures to stimulate exports by policy makers, supplemented by measures to motivate domestic and foreign investments.References
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