| Popis: |
The study claimed that economic variables, exclusively, have been prioritized to determine GDP growth while social variables are comparatively vigorous for the determination. Therefore, the study determined GDP growth using economic variables which produced robust results whereas the social variables determined GDP growth concretely. This indicated the modeling issues in terms of economic variables to be used solely. I concluded that social variables to determine GDP growth (using Granger causality) satisfy the conditions of causality – necessity and sufficiency – and formulated a narrative equation (equation a) that reflected most effective predictor(s) of GDP growth. Keywords: GDP growth, Modeling, Social factors, Economic factors |
