Alig Baghirov, Basti̇ Aliyeva, Teymur Sarkhanov
In this study, it was used the long-term Pedroni cointegration test to analysis the relationship between overall turnover, the share of individuals using the Internet in the population, Human Development Index (life expectancy index, education index & GNI index), Population and GDP per capita on based annual panel data set of 12 European countries in the context of the GDP per Capita model over the period from 1998 to 2020. According to the DOLSMG results, the t statistics of turnover, human development index and population variables at the 1% significance level were found to be significant in the long run for the entire panel and turnover, human development index and variables, expect for the share of individuals using the internet in the population affect GDP per capita. Although it was insignificant in the long run for the entire panel in terms of the share of individuals using the internet in the population, except for Austria, it was significant Belgium at the 5% significance level and all other countries at the 1% significance level.
GDP per Capita, Internet Users, HDI, Durbin Hausman Cointegration test
Cite this paper
Alig Baghirov, Basti̇ Aliyeva, Teymur Sarkhanov. (2022) Investigation of Economic Factors Influencing GDP: An Empirical Study on European Countries. International Journal of Economics and Management Systems, 7, 415-432