The role of European payment index in GDP growth

Abstract

This paper investigates the impact of European Payment index (EPI) on annual Gross Domestic Product (GDP) growth. Cross-sectorial stepwise regression analysis shows that EPI can be distinguished among many other social and macroeconomic indicators as it is often a repetitive indicator, adversely affecting economic growth. Investigation of European countries with different levels of development and different rates of economic growth allows generalizing and assessing the country's economic management experience. This study allows modeling a positive business environment in each individual country.