Emerging Market Economies and Underlying Growth Factors

Abstract

The purpose of the study is to identify factors responsible for the growth of 19 selected economies that are emerging, as recognized by the IMF, based on the evaluation of available data from 2000 to 2017. The study analyses their growth trajectory and suggests policy implications for the selected Emerging Market Economies (EMEs) and utilizes panel data regression models, namely: (i) pooled regression models, (ii) fixed vs. random panel models, and (iii) dynamic panel regression models. The study found a significant and positive influence of broad money, agriculture, capital, air transportation, and, current account balances for the economic growth of the countries. However, health expenditure, life expectancy at birth and credit has a negative impact on the GDPs of the 19 selected EMEs.