NET EXPORTS OF THE EUROPEAN POST TRANSITION COUNTRIES: THE DYNAMIC FACTOR APPROACH
Journal Title: EMC Review: Časopis za ekonomiju i tržišne komunikacije - Year 2018, Vol 8, Issue 1
Abstract
Th e paper brings the common and unobserved factor of net exports of the six European post-transition countries, namely Czech Republic, Slovakia, Slovenia, Hungary, Latvia and Romania. Th e data sample consists of the quarterly net exports time series for the period 1996q1 – 2017q2. Th e results out of the dynamic factor analysis (DFA) revealed that one hidden random walk explains 53.17% of temporal variation in net exports of the observed sample countries. Th e relationship between unobserved hidden factor and net exports of Czech Republic, Slovakia, Slovenia and Hungary is found to be positive while the Romanian net export was negatively aff ected. However, the unobserved factor identifi ed in this paper cannot explain the net export in case of Latvia.
Authors and Affiliations
Vlatka Bilas, Mile Bošnjak, Zrinka Lacković Vincek
Keywords
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- EP ID EP611069
- DOI 10.7251/EMC1802338B
- Views 68
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