Are EU Members' Economies an "Engine" of the EU Candidates' Economies?

• Autorzy: Marija Radulović , Milan Kostić
• Języki publikacji: EN

Abstrakty

EN

Research background: Economic relations between countries members of the EU and EU candidates are very strong. Germany and France have the leading economies of the EU, are in the top ten economies worldwide, and drivers of EU development. Serbia has strong economic relations with Germany and France, especially with Germany. Therefore, it is necessary to examine whether Germany and France impact the development of Serbia. Purpose: The purpose of the study is to determine if there is a positive influence of a developed country on a developing country. The aim of the paper is to determine whether there is a long- and short-term positive relationship between Germany and France (EU members) and the Serbian economy (EU candidate). Research methodology: A Vector Error Correction Model is used to analyze quarterly data from 2002Q2 to 2018Q2. Results: The results showed a statistically significant long-term relationship between Germany and France and Serbia's real GDPs, so EU members have a long-term positive impact on the economy of EU candidates. In the case of the French, there is a short-run positive impact on the Serbian economy. For Germany, it is not the case. Novelty: This paper fills the literature gap about the influence of a developed country on a developing country. Recommendations for policymakers in EU candidates could be that if they want to motivate people to accept the process of access to the EU, they must provide them with more information about long-run economic benefits from the association to the EU. (original abstract)

Słowa kluczowe

EN

High-developed countries; Developing countries

PL

Kraje wysoko rozwinięte; Kraje rozwijające się

• Czasopismo: Folia Oeconomica Stetinensia
• Rocznik: 2021
• Numer: vol. 21, iss. 2
• Strony: 97--117

Twórcy

autor

Marija Radulović

• University of Kragujevac, Kragujevac, Republic of Serbia

autor

Milan Kostić

• University of Kragujevac, Kragujevac, Republic of Serbia

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Identyfikatory

DOI

10.2478/foli-2021-0018