Revisiting the impact of energy prices on economic growth: Lessons learned from the European Union

2020 ◽  
Vol 66 ◽  
pp. 85-95 ◽  
Author(s):  
Athanasios S. Dagoumas ◽  
Michael L. Polemis ◽  
Symeoni-Eleni Soursou
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Lessons Learned ◽  
Energy Prices ◽  
The European Union ◽  
The Impact

scholarly journals The Importance of Maritime Transport for Economic Growth in the European Union: A Panel Data Analysis

2021 ◽  
Vol 13 (14) ◽  
pp. 7961
Author(s):  
Alexandra Fratila (Adam) ◽  
Ioana Andrada Gavril (Moldovan) ◽  
Sorin Cristian Nita ◽  
Andrei Hrebenciuc
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Maritime Transport ◽  
The European Union ◽  
Panel Data Regression ◽  
Green Investment ◽  
Port Infrastructure ◽  
The Impact

Maritime transport is one of the main activities of the blue economy, which plays an important role in the EU. In this paper, we aim to assess the impact of maritime transport, related investment, and air pollution on economic growth within 20 countries of the European Union, using eight panel data regression models from 2007 to 2018. Our results confirm that maritime transport, air pollutants (NOx and SO2) from maritime transport, and investment in maritime port infrastructure are indeed positively correlated with economic growth. In other words, an increase of 10% in these factors has generated an associated increase in economic growth rate of around 1.6%, 0.4%, 0.8%, and 0.7% respectively. Alongside the intensity of economic maritime activities, pollution is positively correlated with economic growth, and thus it is recommended that policymakers and other involved stakeholders act to diminish environmental impacts in this sector using green investment in port infrastructure and ecological ships, in accordance with the current European trends and concerns.

scholarly journals Are Business Regulations Improving Economic Growth? Case Study between ASEAN and European Union

2021 ◽  
Vol 9 (1) ◽  
pp. 44-53
Author(s):  
Karuniana Dianta Arfiando Sebayang ◽  
Belinda Febrina
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Gross Domestic Product ◽  
Quantitative Research ◽  
Domestic Product ◽  
The European Union ◽  
Doing Business ◽  
Ease Of Doing Business ◽  
Business Regulations ◽  
The Impact

Economic activities require a transparent regulatory and policy environment that is accessible to all levels of society. This study aims to explain the impact of ease of doing business on economic growth in both ASEAN and the European Union since doing business indicators applied globally. Gross Domestic Product is used as a proxy variable for economic growth as Gross Domestic Product is an indicator to measure economic growth. This study uses a descriptive quantitative research model and uses multiple regressions to determine the effect of ease of doing business on economic growth in ASEAN and the European Union by comparing the result of each ASEAN and European Union. In this study it was found that in ASEAN, there are four indicators of doing business have significant impact to economic growth, while in the European Union five indicators have significant impact to economic growth.  

scholarly journals THE CONTRIBUTION OF MIGRATION TO ECONOMIC GROWTH: THE EXAMPLE OF THE CITY OF ZAGREB

2021 ◽  
Vol 21 (1) ◽  
Author(s):  
Vinko Miličević ◽  
Danijel Knežević ◽  
Zoran Bubaš
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Activity ◽  
Economic Benefits ◽  
Gdp Per Capita ◽  
The European Union ◽  
Per Capita ◽  
The Republic ◽  
The Impact ◽  
The City

The problems in this paper belong to the field of migration and economy. The connection between migration and the economy has been proven on a global level, and as far as the Republic of Croatia is concerned, it is especially important to observe it through the City of Zagreb, which is the most important migration and economic center in the Republic of Croatia. Also, the accession of the Republic of Croatia to the European Union emphasized the observation and research of this connection because it created the preconditions for freer movement and employment of the population of the Republic of Croatia and the City of Zagreb within the European Union. The aim of this paper is to determine the contribution of migration to the economic growth of the City of Zagreb. The hypothesis presented in the paper is that there is a significant contribution of migration to the economic growth of the City of Zagreb. The disposition of the paper consists of six parts. The introduction explains the relevance of the topic, states the aim of the paper and hypotheses, explains the empirical part, the contribution of the paper and the disposition. The second part of the paper refers to the theoretical framework of the impact of migration on economic growth. The third part of the paper presents the migration processes of the City of Zagreb in the period from 2011 to 2018. The fourth part deals with economic activity in the City of Zagreb in the period from 2011 to 2017. The observed indicators of economic activity in the City of Zagreb are GDP and GDP per capita, and the graph in this part of the paper shows that GDP and GDP per capita in the observed period are higher at the end of the period than at the beginning. The fifth part of the paper refers to the empirical research of the contribution of migration to the economic growth of the City of Zagreb. The empirical part of the paper is based on correlations and regression analyses. This paper proves the hypothesis because the results indicate a significant impact of the variables of total and external migration on the GDP of the City of Zagreb and GDP per capita of the City of Zagreb. Decision-makers in the City of Zagreb can use the results of the research as a basis for maximizing the economic benefits they can get from migration. The conclusion provides an overview of the aim of the work, the results of the research, the limitations, the implications and the recommendations for future research.

scholarly journals Trade Balance Effects on Economic Growth: Evidence from European Union Countries

Economies ◽  
2020 ◽  
Vol 8 (3) ◽  
pp. 54
Author(s):  
Deimante Blavasciunaite ◽  
Lina Garsviene ◽  
Kristina Matuzeviciute
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Trade Balance ◽  
Fixed Effects ◽  
Negative Impact ◽  
Trade Deficit ◽  
Multivariate Regression Analysis ◽  
The European Union ◽  
Linear Effect ◽  
The Impact

A growing number of recent research analyse the trade balance impact on economic growth. However, ambiguous results of studies imply the need for the research as the deteriorating trade balance hinders economic growth. This research aims to investigate the impact of the trade balance on economic growth as well as to evaluate it during the periods of trade deficit. Our estimations are based on the European Union (EU) 28 countries panel data over the period of 1998–2018, using the OLS method of multivariate regression analysis with fixed effects and focusing on two strategies: (i) including all trade balance periods, and (ii) adding deficit dummy variable seeking to evaluate whether during deficit periods we can find different and significant effect on economic growth. Evaluating all trade balance periods, the obtained results indicate the negative and lagging impact of the trade balance on economic growth, and no significant differences of the impact were identified during the deficit periods. The deterioration of trade balance reduces average economic growth and from linear relationship evaluation, we can state that it does not matter whether it starts from trade deficit or surplus result. The results obtained may also obscure the possibility of a non-linear effect, which would suggest a stronger negative impact on economic growth when the trade balance deteriorates in the presence of a large trade deficit. When discussing directions for further research it would make sense to consider other factors, such as the size of the deficit and its permanence.

Competitiveness and Economic Growth in the European Union

2018 ◽  
Vol 8 (8) ◽  
pp. 2408
Author(s):  
Natália ZAGORŠEKOVÁ ◽  
Michaela ČIEFOVÁ ◽  
Andrea ČAMBALÍKOVÁ
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Union Member ◽  
National Level ◽  
The European Union ◽  
Member States ◽  
Global Competitiveness ◽  
Global Competitiveness Index ◽  
The Impact ◽  
European Union Member States

The paper focuses on competitiveness at the national level and on the impact of competitiveness on economic growth. We look at the relationship between competitiveness and economic growth based on the data from the European Union member states. The competitiveness of the economies is measured by the Global Competitiveness Index, which is published by the World Economic Forum. The European Union member states show significant differences in competitiveness. In the sample examined, the positive relationship between the level of competitiveness and economic growth was not confirmed.

scholarly journals The impact of COVID-19 pandemic on the volume of labor migration, employment, and remittances

2021 ◽  
Vol 71 (2) ◽  
pp. 195-202
Author(s):  
Olha Podra ◽  
Nataliia Petryshyn ◽  
Oksana Bayik ◽  
Ulyana Bobko ◽  
Halyna Levkiv
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Labor Migration ◽  
Systematic Approach ◽  
European Countries ◽  
The European Union ◽  
Labor Migrants ◽  
Political Situation ◽  
The Impact ◽  
Critical Methods

Flows of external labor migration in most cases occur under the influence of the internal economic and political situation in the country; however, in 2020 these trends changed significantly for reasons which did not depend on the socio-economic situation. In order to determine the volume of labor migration in 2020, an analysis was conducted. According to the results, it has been concluded that, despite the restrictive quarantine measures implemented in the European Union (EU) that caused the partial return of migrants to their countries, the rise in unemployment and slow economic growth, labor migrants are highly employed in key occupations of EU that are vital in the fight against coronavirus disease (COVID-19). It has been noticed that EU countries increase the number of officially issued residence permits to citizens of non-member countries every year, and Ukraine has become the absolute leader in the number of received residence permits, as well as the leader among European countries by the volume of the received remittances. An abstract-logical and systematic approach, analytical, comparative, graphical, and critical methods were used in the study. Prospects for external labor migration of Ukrainians to European countries have been identified.

scholarly journals Government expenditure and economic growth in the European Union countries: New evidence

2017 ◽  
Vol 36 (36) ◽  
pp. 127-133 ◽  
Author(s):  
Marta Pascual Sáez ◽  
Santiago Álvarez-García ◽  
Daniela Castañeda Rodríguez
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Government Spending ◽  
Government Expenditure ◽  
The European Union ◽  
The Public ◽  
European Union Countries ◽  
The Impact ◽  
New Evidence ◽  
The Relationship

AbstractThis paper provides new evidence of the impact of government spending on economic growth in the European Union countries. Governments can adjust their levels of spending in order to influence their economies, although the relationship between these variables can be positive or negative, depending on the countries included in the sample, the period of estimation and the variables which reflect the size of the public sector. The results obtained based on regression and panel techniques suggest that government expenditure is not clearly related with economic growth in the European Union countries over the period 1994-2012.

scholarly journals THE IMPACT OF BIOFUELS UTILISATION IN TRANSPORT ON THE SUSTAINABLE DEVELOPMENT IN THE EUROPEAN UNION

2017 ◽  
Vol 23 (4) ◽  
pp. 667-686 ◽  
Author(s):  
Mihaela SIMIONESCU ◽  
Lucian-Liviu ALBU ◽  
Monica RAILEANU SZELES ◽  
Yuriy BILAN
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Sustainable Development ◽  
Energy Consumption ◽  
Positive Impact ◽  
The European Union ◽  
The Sustainable Development ◽  
Greenhouse Emissions ◽  
Causality Tests ◽  
The Impact

The biofuels sustainability in transport depends on the energetic products demand and the limited resources. According to European legislation, the energy consumption in transport from renewable energy in the European Union should increase by 10% till 2020. Considering the environmental requests related to greenhouse gases reduction and a lower dependency on oil fuels stimulated more the biofuels production, this research empirically assessed the impact of energy consumption in transport based on biodiesel and bioethanol on sustainable development in terms of economic growth and greenhouse emissions. Using dynamic panel and panel vector-auto-regression models for European Union countries during 2010–2015, we proved that only the energy consumption in transport based on biodiesel had a positive impact on economic growth. The greenhouse emissions did not have any impact on economic growth while the energy consumption in transport based on bioethanol negatively affected the economic growth. The Granger causality tests on panel data indicated a bilateral relationship between economic growth and energy consumption in transport based on biodiesel and between economic growth and energy consumption in transport based on bioethanol. Given these empirical results, the energy policies should focus on the higher utilisation of biodiesel in transport in the EU.

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