Naslov
The MINT Countries: A Regression Analysis of the Selected Economic Features

Autori
Kokotović, Filip ; Kurečić, Petar

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
14th International Scientific Conference on Economic and Social Development Proceedings / Jovancai Stakic, Ana ; Kurecic, Petar ; Dobrinic, Damir - Beograd : Varazdin Development and Entrepreneurship Agency, University North and John Naisbitt University, 2016, 265-278

Skup
14th International Scientific Conference on Economic and Social Development

Mjesto i datum
Beograd, Srbija, 13.05.2016. - 14.05.2016

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
The MINT countries ; OLS regression model ; foreign direct investment (FDI) ; GDP growth

Sažetak
In 2001, the world began talking about the BRIC countries - Brazil, Russia, India and China - as potential powerhouses of the world economy. These countries have formalized their cooperation, and later, with the joining of South Africa, became the BRICS. They are often perceived as proponents of multipolar world, choosing multipolarity over unipolarity, and supporting political institutions and organizations, at the same time creating alternative financial institutions to the hegemonic ones (the IMF and the World Bank), still dominated by the developed economies of the Western countries. So, what about a different group of countries, called the MINT countries or simply the MINTs that are emerging, growing economies, are heterogeneous as BRICS, but not nearly as large and powerful, and are located on four different continents, with no formal cooperation between themselves such as the BRICS? This article analyses the basic economic trends in the MINT countries by analyzing the linear relationship between GDP as the dependent variable and household consumption, foreign direct investment and government consumption as the independent variables. The general model is as follows: Δ log GDPt = α0 + α1 Δ log FDIt + α2 Δ log PCt + α3 Δ log GCt +εt. The analysis was conducted using ordinary least squared (OLS) regression. By conducting this analysis, it is possible to conclude that the MINT countries have significant differences in regards to the statistical relevance of the chosen independent variables. One of the rare common traits of these four economies is that FDI does not seem to have a statistically significant impact on their development. This article concludes that the MINT countries may have a significant role in international relations as regional powers, but they do not have the economic or political traits necessary to challenge the BRICS countries significantly.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Politologija

Napomena
Rad je produkt suradnje profesora-mentora i studenta- diplomanta.

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