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The article analyses state's capital formation problems and its impact on economic growth. The purpose of this article is to determine the major economic growth indicators affected by foreign capital as well as to measure the intensity on economic growth. For this reason, the analysis of scientific literature as well as statistical analysis was carried out. According to some researches foreign capital significantly effects on GDP, export/import, average wages, and inflation. Further, the relationship between economic growth and foreign capital depends on business sector and region. Despite, mentioned founding, the influence of foreign capital differs in time. Article in Lithuanian Valstybės kapitalo struktūros įtaka ekonominei plėtrai Santrauka Straipsnyje nagrinėjama valstybės kapitalo formavimosi problema, aiškinamasi, kaip vietinis ar užsienio kapitalas veikia šalies ūkį. Nustatyta BVP priklausomybė nuo užsienio skolos, tiesioginių užsienio investicijų bei finansinės paramos. Pagrindiniams veiksniams, apibrėžiantiems ekonomikos augimą, t. y. priklausantiems nuo kapitalo struktūros, priskiriama BVP, eksporto (importo) santykis, infliacija ir vidutinis darbo užmokesčio dydis. Pastarasis pasitelkiamas kaip vienetas darbo išlaidoms skaičiuoti. Galima pastebėti, jog skirtinguose verslo sektoriuose užsienio kapitalo prigimtis, intensyvumas bei poveikio stiprumas skiriasi. Darytina išvada, jog užsienio kapitalo poveikis, jo veiksniai priklauso nuo tik tai šaliai būdingų savybių. Reikšminiai žodžiai: kapitalo struktūra, užsienio kapitalas, valstybės užsienio skola, BVP, tiesioginės užsienio investicijos.

The article analyses state's capital formation problems and its impact on economic growth. The purpose of this article is to determine the major economic growth indicators affected by foreign capital as well as to measure the intensity on economic growth. For this reason, the analysis of scientific literature as well as statistical analysis was carried out. According to some researches foreign capital significantly effects on GDP, export/import, average wages, and inflation. Further, the relationship between economic growth and foreign capital depends on business sector and region. Despite, mentioned founding, the influence of foreign capital differs in time. Article in Lithuanian. Valstybės kapitalo struktūros įtaka ekonominei plėtrai Santrauka.Straipsnyje nagrinėjama valstybės kapitalo formavimosi problema, aiškinamasi, kaip vietinis ar užsienio kapitalas veikia šalies ūkį. Nustatyta BVP priklausomybė nuo užsienio skolos, tiesioginių užsienio investicijų bei finansinės paramos. Pagrindiniams veiksniams, apibrėžiantiems ekonomikos augimą, t. y. priklausantiems nuo kapitalo struktūros, priskiriama BVP, eksporto (importo) santykis, infliacija ir vidutinis darbo užmokesčio dydis. Pastarasis pasitelkiamas kaip vienetas darbo išlaidoms skaičiuoti. Galima pastebėti, jog skirtinguose verslo sektoriuose užsienio kapitalo prigimtis, intensyvumas bei poveikio stiprumas skiriasi. Darytina išvada, jog užsienio kapitalo poveikis, jo veiksniai priklauso nuo tik tai šaliai būdingų savybių. Reikšminiai žodžiai: kapitalo struktūra, užsienio kapitalas, valstybės užsienio skola, BVP, tiesioginės užsienio investicijos.

The paper examines the links between economic indicators and the defence burden in selected NATO countries during the period between 1980 and 2020. Three of the largest NATO spenders in terms of defence, such as Greece, Turke, and the USA, have been chosen for the investigation. The question being posed by this research is whether economic factors have an impact on the defence burden. To answer this question, the Autoregressive Distributed Lag (further ARDL) modelling has been employed. The results reveal that, in the long-run, the defence burden responds negatively to output changes in the cases of Turkey and Greece. Inflation and the number of military personnel have positive effects on the defence burden in all three countries in the long-run. While in Greece the government gross debt affects the defence burden positively, in the United States and Turkey the government gross debt affects the defence burden negatively. Moreover, the investigation has shown that defence expenditure is less affected by economic determinants in the short term rather than in the long term. The outcomes of the study could be incorporated into the economic development policies of Greece, Turkey and the USA.

The paper examines the links between economic indicators and the defence burden in selected NATO countries during the period between 1980 and 2020. Three of the largest NATO spenders in terms of defence, such as Greece, Turke, and the USA, have been chosen for the investigation. The question being posed by this research is whether economic factors have an impact on the defence burden. To answer this question, the Autoregressive Distributed Lag (further ARDL) modelling has been employed. The results reveal that, in the long-run, the defence burden responds negatively to output changes in the cases of Turkey and Greece. Inflation and the number of military personnel have positive effects on the defence burden in all three countries in the long-run. While in Greece the government gross debt affects the defence burden positively, in the United States and Turkey the government gross debt affects the defence burden negatively. Moreover, the investigation has shown that defence expenditure is less affected by economic determinants in the short term rather than in the long term. The outcomes of the study could be incorporated into the economic development policies of Greece, Turkey and the USA.

The paper examines the links between economic indicators and the defence burden in selected NATO countries during the period between 1980 and 2020. Three of the largest NATO spenders in terms of defence, such as Greece, Turke, and the USA, have been chosen for the investigation. The question being posed by this research is whether economic factors have an impact on the defence burden. To answer this question, the Autoregressive Distributed Lag (further ARDL) modelling has been employed. The results reveal that, in the long-run, the defence burden responds negatively to output changes in the cases of Turkey and Greece. Inflation and the number of military personnel have positive effects on the defence burden in all three countries in the long-run. While in Greece the government gross debt affects the defence burden positively, in the United States and Turkey the government gross debt affects the defence burden negatively. Moreover, the investigation has shown that defence expenditure is less affected by economic determinants in the short term rather than in the long term. The outcomes of the study could be incorporated into the economic development policies of Greece, Turkey and the USA.

This paper has aimed to investigate the education – economic development nexus in the selected European Union (EU) countries during the period of 1997 – 2016. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Research results have revealed statistically significant interrelationships between education and economic growth in majority of the selected countries. However, only Belgium, France, Ireland and United Kingdom have demonstrated causal relationships between the variables under consideration. In these countries the unidirectional causality running from education to economic development has shown that increase in the share of population having tertiary education promotes economic performance. In the remaining countries neither increasing share of tertiary education effects on economic development nor growing real GDP promotes tertiary education of the population. The insights of the research could be useful in achieving the goals for Europe 2020, where tertiary education is highlighted as one of the five measurable targets.

This paper has aimed to investigate the education – economic development nexus in the selected European Union (EU) countries during the period of 1997 – 2016. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Research results have revealed statistically significant interrelationships between education and economic growth in majority of the selected countries. However, only Belgium, France, Ireland and United Kingdom have demonstrated causal relationships between the variables under consideration. In these countries the unidirectional causality running from education to economic development has shown that increase in the share of population having tertiary education promotes economic performance. In the remaining countries neither increasing share of tertiary education effects on economic development nor growing real GDP promotes tertiary education of the population. The insights of the research could be useful in achieving the goals for Europe 2020, where tertiary education is highlighted as one of the five measurable targets.

This paper has aimed to investigate the education – economic development nexus in the selected European Union (EU) countries during the period of 1997 – 2016. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Research results have revealed statistically significant interrelationships between education and economic growth in majority of the selected countries. However, only Belgium, France, Ireland and United Kingdom have demonstrated causal relationships between the variables under consideration. In these countries the unidirectional causality running from education to economic development has shown that increase in the share of population having tertiary education promotes economic performance. In the remaining countries neither increasing share of tertiary education effects on economic development nor growing real GDP promotes tertiary education of the population. The insights of the research could be useful in achieving the goals for Europe 2020, where tertiary education is highlighted as one of the five measurable targets.

This paper has aimed to investigate the education – economic development nexus in the selected European Union (EU) countries during the period of 1997 – 2016. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Research results have revealed statistically significant interrelationships between education and economic growth in majority of the selected countries. However, only Belgium, France, Ireland and United Kingdom have demonstrated causal relationships between the variables under consideration. In these countries the unidirectional causality running from education to economic development has shown that increase in the share of population having tertiary education promotes economic performance. In the remaining countries neither increasing share of tertiary education effects on economic development nor growing real GDP promotes tertiary education of the population. The insights of the research could be useful in achieving the goals for Europe 2020, where tertiary education is highlighted as one of the five measurable targets.

Abstract
This paper has aimed to examine the causal relationships between energy consumption – economic growth, export – energy consumption and export – economic growth in Lithuania during the period of 1998 – 2015. Descriptive statistics analysis and econometric techniques have been applied for this purpose. Granger causality test has been used to a time series data set to determine the causality between variables. The results of Granger causality test have shown unidirectional causality running from GDP to energy consumption, from export to GDP and from export to energy consumption. It is obvious that GDP and export play significant roles in accelerating energy consumption in Lithuania. The determination of the causal links between energy consumption – economic growth, export – economic growth and energy consumption – export has provided policy makers with the main insights to formulate future policy directions for sustainable economic development in Lithuania.

The significance of renewable energy is highly recognized all over the world. However, the impact of consuming renewable energy on the economy is very often disputable and contravercial. The paper explores links between consumption of renewable energy, economic growth, trade, capital and labour. The study covers 28 European Union countries for the period from 1990 to 2012. Energy has been considered as one of production factors, which has a great impact on output. Thus, the neo-classical Cobb-Douglas function has been employed to reach the aim of the article. Following the relevant state-of-art, economic growth, consumption of renewable energy, trade, capital and labour are considered as separate factors. The analysis indicates that consumption of renewable energy boots economy in 12 countries out of 28. The neutrality hypothesis has been confirmed in 2 countries, while the conservation hypothesis has been proved in 6 cases. The weakest links between the consumption of renewable energy and other factors has been noticed in Luxembourgh's case.

The significance of renewable energy is highly recognized all over the world. However, the impact of consuming renewable energy on the economy is very often disputable and contravercial. The paper explores links between consumption of renewable energy, economic growth, trade, capital and labour. The study covers 28 European Union countries for the period from 1990 to 2012. Energy has been considered as one of production factors, which has a great impact on output. Thus, the neo-classical Cobb-Douglas function has been employed to reach the aim of the article. Following the relevant state-of-art, economic growth, consumption of renewable energy, trade, capital and labour are considered as separate factors. The analysis indicates that consumption of renewable energy boots economy in 12 countries out of 28. The neutrality hypothesis has been confirmed in 2 countries, while the conservation hypothesis has been proved in 6 cases. The weakest links between the consumption of renewable energy and other factors has been noticed in Luxembourgh's case.

The significance of renewable energy is highly recognized all over the world. However, the impact of consuming renewable energy on the economy is very often disputable and contravercial. The paper explores links between consumption of renewable energy, economic growth, trade, capital and labour. The study covers 28 European Union countries for the period from 1990 to 2012. Energy has been considered as one of production factors, which has a great impact on output. Thus, the neo-classical Cobb-Douglas function has been employed to reach the aim of the article. Following the relevant state-of-art, economic growth, consumption of renewable energy, trade, capital and labour are considered as separate factors. The analysis indicates that consumption of renewable energy boots economy in 12 countries out of 28. The neutrality hypothesis has been confirmed in 2 countries, while the conservation hypothesis has been proved in 6 cases. The weakest links between the consumption of renewable energy and other factors has been noticed in Luxembourgh's case.

The significance of renewable energy is highly recognized all over the world. However, the impact of consuming renewable energy on the economy is very often disputable and contravercial. The paper explores links between consumption of renewable energy, economic growth, trade, capital and labour. The study covers 28 European Union countries for the period from 1990 to 2012. Energy has been considered as one of production factors, which has a great impact on output. Thus, the neo-classical Cobb-Douglas function has been employed to reach the aim of the article. Following the relevant state-of-art, economic growth, consumption of renewable energy, trade, capital and labour are considered as separate factors. The analysis indicates that consumption of renewable energy boots economy in 12 countries out of 28. The neutrality hypothesis has been confirmed in 2 countries, while the conservation hypothesis has been proved in 6 cases. The weakest links between the consumption of renewable energy and other factors has been noticed in Luxembourgh's case.