Going high-tech in Eastern and Central Europe
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This research assessed whether or not high-tech exports, a proxy variable for advanced high-tech exports, have a positive and significant effect on gross domestic product (GDP) growth in select Eastern and European countries. The study used an OLS model to test cross-country annual data for 12 European countries between the years 1998 and 2010. The hypothesis that high-tech exports have had a significant impact on GDP was rejected. The volume of trade, as a percentage of GDP, and a nation’s population were the only variables found to have a significant and positive impact on GDP growth. It was concluded that high-technology exports have not had a significant and positive effect on GDP growth for the 12 countries studied. Additionally, it is argued that if nations pursue economic strategies that benefit low-to-medium technology enterprises, a more balanced growth strategy can be achieved than if the focus is in high-tech sectors.