Macroeconomic analysis of the advertising expenditure of Central and Eastern European countries

Abstract

The macroeconomic relations of advertising expenditure are investigated in this paper. The connection of aggregate advertising expenditure with aggregate consumption, economic growth and economic cycles is explored and the influencing factors of aggregate advertising expenditure level and change are emphasized. The analysis of aggregate advertising expenditure of Central and Eastern European countries is aimed at the level and change of advertising investment, emphasizing the effect of the economic crisis that started in 2008. The studied countries do not form clusters permanently in terms of the level and change of their aggregate advertising expenditure.