Formalization of the impact of imbalances in the movement of financial resources on economic growth of countries in Central and Eastern Europe

Abstract

The article deals with the impact of financialization on economic growth in countries of Central and Eastern Europe. It determinesthe impact of imbalances in the movement of financial resources caused by financialization on economic growth of these countries. It proves that the implementation of measures aimed at increasing the openness of the economy and maintaining solvent demand have a positive impact on economic growth of the surveyed countries in the long run. It also proves the importance of developing a set of measures of strategic nature regulating imbalances in the movement of financial resources caused by financialization.

Keywords

• autoregressive model
• economic growth
• financialization
• growth of per capita gross domestic product
• imbalances in the movement of financial resources