Evaluation of the factors that influence the eu automobile industry during the period of financial crisis

Research output: Contribution to journalArticle

Abstract

Since EU automobile industry has not completely recovered after the recent financial crisis, it is purposeful to identify what factors could have determined the recession of the EU automobile industry. The article is aimed at the evaluation of the factors that influence the automobile industry in the EU during the period of financial crisis. The methods of the research include correlation analysis and multifaceted regression analysis. The research has enabled to establish the impact of macroeconomic factors on the EU automobile production whereas the factors that influence the EU automobile demand have been researched only partly due to non-stationarity of the statistical data. Although the data was differentiated to make it stationary, the differentiation too significantly changed data values and correlation coefficients to make reliable conclusions. For the comprehensive analysis, the Vector Error Correlation Model (VECM) should be applied.

Original languageEnglish
Pages (from-to)1735-1740
Number of pages6
JournalMediterranean Journal of Social Sciences
Volume5
Issue number27
DOIs
Publication statusPublished - Dec 1 2014

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Keywords

  • Automobile industry
  • Demand
  • Financial crisis

ASJC Scopus subject areas

  • Social Sciences(all)
  • Arts and Humanities(all)
  • Economics, Econometrics and Finance(all)

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