COMPARISON STUDY ON DETERMINANTS OF ECONOMIC GROWTH
COMPARISON STUDY ON DETERMINANTS OF ECONOMIC GROWTH

Summary/Abstract: The present economic enviroment is highly volatile and very dynamic, both from the point of view of its financial characteristics, as well as its economical pecularities. This paper comes in an attempt to demonstrate the influences that manifest on growth, studying the correlations between it and its determinants, supporting the original understanding of existing methods for verification of several correlation in the literature, and subsequently retaining three of them, the MRW model in two forms: one under development of authors, one adding other macroeconomic control variables; and a dynamic model of economic growth. Additionally, these models use empirical analysis on two types of countries: OECD developed countries and developing countries in Central and Eastern Europe and Central Asia. In the end the analysis shows that the most significant influence in both areas is the education and, futher, that states under development present greater opportunities to promote growth through macroeconomic policies aimed at developing human capital.

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