Brand management and macroeconomic stability of the country

Abstract

The paper deals with an analysis of linking between brand’s factors and macroeconomic stability. For this purpose, the authors have checked two hypotheses such as multicollinearity between social-value determinants which form the country’s brand and linking between social-value determinants of the brand and country’s macroeconomic stability. The object of analysis deals with Lithuania, Latvia, Croatia, Bulgaria, Poland, Romania (the latest countries which joined the EU) and Ukraine. The dataset for analysis is obtained from Hofstede Insights (2018), World Data Bank, United Nations, Freedom House, etc. The methods adopted for this study are Pearson’s correlation coefficient and Generalized Least Squares model. The findings have proved the indicated hypotheses. Thus, the government should develop the strategy to manage the social-value determinates of a country’s brand with a purpose to achieve macroeconomic stability.