Growth Effects of Cross-border Mergers and Acquisitions in European Transition Countries

Jelena Zvezdanović Lobanova 1 , Davorin Kračun 2 , and Alenka Kavkler 2
  • 1 Centre for Economic Research, Institute of Social Sciences, Serbia
  • 2 University of Maribor, Faculty of Economics and Business, Slovenia


This paper deals with the economic effect of cross-border mergers and acquisitions on GDP per capita in European transition countries for the 2000- 2014 period. Our analysis shows that cross-border mergers and acquisitions have a negative effect on GDP per capita in the current period, whereas their lagged level positively impacts output performance. We found that transition countries characterized by a higher quality of institutional setting have achieved a positive impact on GDP per capita.

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