Research Groups
Main Objective: to investigate the impact of financial market developments on productivity in West Balkan countries
Description: Financial markets play a significant positive role on the productivity of different sectors. this impact is observed at different scales in different countries with different level of development and market structure. West Balkan countries who are still in development stage need to fasten their sectors productivity to overcome serious unemployment and low level of production. Therefore, it is very crucial for those countries in the region to have fast growing financial markets.
Data: monthly observations of stock market indices, exchange rates, and industrial production indices obtained from Thomson Reuters data stream.
Methodology: 2SLS estimation method, Rolling window approach and VECM.
Expected Results: We expect positive strong impact on productivity which varies according to the different development levels.
Implications: This study is expected to deliver beneficial implications to policy makers, international portfolio investors and scholars.
Assoc. Prof. Dr. Ugur Ergun, Dr. Chrysanthi Balomenou, Dr. Nertil Mera, Kriselda Sulcaj, and Egis Zaimaj
