The Impact of Macroeconomic Indicators on Economic Growth in Post-Soviet Union Countries

Abstract

This study investigates the influence of macroeconomic indicators on economic growth in Post-Soviet Union countries. It specifically examines the roles of Foreign Direct Investment (FDI), inflation, and corruption on GDP growth from 2015 to 2022. The research aims to address the issue of economic volatility in these countries, which primarily rely on limited sectors like oil and gas. By understanding these relationships, the study provides insights for enhancing economic stability and growth in the region. Design/Methods/Approach. Employing regression and cross-sectional analyses, this study evaluates data sourced from international databases to explore the relationship between key macroeconomic indicators and economic growth. Findings. The analysis indicates that FDI positively affects GDP growth, while inflation and corruption negatively impact economic performance. These findings highlight the necessity for policies that attract foreign investment and control inflation and corruption to promote economic growth. The study's scope is limited by the availability of reliable data from some Post-Soviet Union countries. Future research could benefit from including more diverse economic indicators and extending the analysis period. This research fills a gap in the literature by focusing on the unique economic conditions of Post-Soviet Union countries. It offers valuable insights for policymakers, businesses, and investors aiming to improve economic stability and growth in these regions.