УТИЦАЈ НЕЗАПОСЛЕНОСТИ НА РАСТ БДП-А У БОСНИ И ХЕРЦЕГОВИНИ

Abstract

Unemployment in Bosnia and Herzegovina is a key problem, which has significant consequences for the gross domestic product. The mutual connection between these two indicators in the economy is defined by Okun’s law, and a good understanding of this connection should enable the adoption of adequate measures that improve economic growth and reduce unemployment. In an empirical analysis, the relationship between the unemployment rate and the GDP growth rate in Bosnia and Herzegovina was determined in the period from 2000 to 2023. The Bounds test was used to test cointegration. The ARDL model was used to further determine the existence of a long-term and short-term relationship. The GDP growth rate was taken as the dependent variable, while the unemployment rate was the independent variable. The obtained results show that in the short term there is an inverse relationship between the variables, while in the long term there is no statistically significant relationship between the unemployment rate and the GDP growth rate.