Small and medium enterprises led-growth in two Adriatic countries: Granger causality approach

Sergej Gričar, Violeta Šugar, Štefan Bojnec
2019 Ekonomska Istrazivanja-Economic Research  
This paper investigates causal relationships between gross domestic product (GDP) and the number of small and medium sized enterprises (SMEs) controlled for unemployment rates (UNR) within Slovenia and Croatia. Macro-economic time series data on GDP, SMEs and UNR are analysed in a unit root framework and applied regression analysis. These processes are known as the Johansen co-integration test and Granger-Causality-test. The results show that UNR, GDP and SMEs did not have causal relationships
more » ... usal relationships in Croatia
doi:10.1080/1331677x.2019.1645711 fatcat:enjotaz2kjcvpolnx46cupknau