| Telecom, financial services, education, health and market liberalization have been correlated with economic development. The stochastic complexities of the factors that determine economic growth leave causality as a contentious point. Often a given variable is necessary but not sufficient for growth. Building on economic growth models and using a multivariate cross-country time series empirical analysis on Central and Eastern European countries, this paper tests the interaction effect of variables on economic growth. The results show the importance of developing policies bilaterally. |
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