The Recovery Factors and the Gold Reserves – South-East European and Black Sea Economic Cooperation Countries Comparative Analyses and Evaluation (2006-2015)

Abstract

The aim of this report is to provide a critical analysis of the economic development trends of ten selected SEE and BSEC countries in terms of identification of key factors supporting GDP growth and post-crisis recovery. The paper is structured in three parts. The first part presents a comparative monitoring analysis of the trends in the import and export flows for the period 2006-2015 in the selected SEE and the BSEC countries. The second part presents GDP growth rate models of the selected SEE and the BSEC countries in terms of the level of openness of their economies and the dynamics of their export and import flows (single and multiple regressions). The final, third part focused on the “gold anchor” as a re-stabilization factor, included in the national reserve assets and its price dynamics on the market of precious metals.