scholarly journals Are International Indices Good Predictors of Economic Growth? Panel Data and Cluster Analysis for European Union Countries

2021 ◽  
Vol 13 (11) ◽  
pp. 6003
Author(s):  
Manuel Carlos Nogueira ◽  
Mara Madaleno
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Panel Data ◽  
Human Development ◽  
Empirical Studies ◽  
The European Union ◽  
Global Competitiveness ◽  
Environmental Performance Index ◽  
European Union Countries ◽  
And Cluster Analysis

Every year, news about the publication of rankings and scores of important international indexes are highlighted, with some of the most prestigious being the Global Competitiveness Index (GCI), the Human Development Index (HDI), the Ease of Doing Business (EDB), the Environmental Performance Index (EPI) and the Global Entrepreneurship (GEI). A country’s progression in these indices is associated with economic growth, especially since several empirical studies have found evidence to reinforce these beliefs, the indices having been built based on the scientific literature on economic growth. Building a database on these indices for European Union countries between 2007 and 2017 and using panel data methodologies and then 2SLS (Two-Stage Least Squares) to solve the problem of endogeneity, we verify empirically through panel data estimates, what is the relationship between the mentioned indices and the European Union countries’ economic growth for the period. However, as the European Union is made up of diverse countries with different economic and social realities, we divided the countries into six clusters and made an individual interpretation for each one. We found that human development and competitiveness play an important role in economic growth, and entrepreneurship also impacts this growth. Regarding income distribution, applying the Gini index, we found that only human development mitigates inequalities.

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.

THE COMPOUNDS BETWEEN THE ECONOMIC SITUATION AND ENVIRONMENTAL IMPACT OF AGRICULTURAL HOLDINGS IN THE EUROPEAN UNION COUNTRIES

2018 ◽  
Vol XX (3) ◽  
pp. 59-64
Author(s):  
Aleksander Grzelak
Keyword(s):  
European Union ◽  
Regression Analysis ◽  
Panel Data ◽  
Environmental Impact ◽  
Negative Impact ◽  
Economic Situation ◽  
The European Union ◽  
Eu Countries ◽  
European Union Countries

The main purpose of the article is to examine the compounds between economic results of agricultural holdings and their impact on the environment. The research was conducted on a group of 23 EU countries that have been members since at least 2004. The time scope of the analyses concerns the years 2004-2015. The study uses regression analysis based on panel data. It was found that the more favorable economic situation of the surveyed group of agricultural holdings is accompanied by a stronger negative impact on the environment. The strongest relative environmental impact (from the perspective of material pressure on the environment) was recorded for investments.

Financial Services Input as a Source of Economic Growth in the European Union Countries

2016 ◽  
Vol 63 (3) ◽  
pp. 289-308
Author(s):  
Joanna Wyszkowska-Kuna
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Financial Services ◽  
The European Union ◽  
Business Services ◽  
Intermediate Inputs ◽  
European Union Countries ◽  
Production Growth ◽  
Knowledge Intensive ◽  
Factor Inputs

The aim of this paper is to study and compare the importance of intermediate demand for financial services for the growth of production in the European Union countries. In the study the methodology introduced by Jorgenson et al. (1987) is used. This assumes that changes in the production (in real terms) result from changes in intermediate inputs of raw and manufacturing materials and services, as well as in factor inputs (labour and capital) and in total factor productivity. The advantage of this method is the ability to calculate the contributions of different components of intermediate inputs (including service inputs – total or with respect to particular service categories) to production growth in the whole economy and in individual industries. The study is carried out with respect to financial services, but their contribution to economic growth is compared with the contribution of knowledge--intensive business services that have been already recognized as affecting economic and productivity growth. The data used in the study come from the World Input-Output Database. The analysed period covers the years 1995–2009, owing to the availability of relevant data.

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 logistics sector on sustainable development

2019 ◽  
pp. 75-81
Author(s):  
Deimantė Šulskytė
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Sustainable Development ◽  
Global Economy ◽  
Theoretical Concepts ◽  
Global Competitiveness ◽  
European Union Countries ◽  
Comprehensive Development ◽  
Macroeconomic Indicators ◽  
The Impact

In the context of global economy, logistics activities are necessary for ensuring the global competitiveness of other sectors and comprehensive development of the country. In the recent years, the concept of sustainable development is changing the meaning of economic growth. Taking into account the meaning of logistics and principles of sustainable development, the main aim of the article is to assess the impact of the logistics sector on sustainable development. In order to achieve this aim, theoretical concepts of sustainable development, logistics and its relationship are revealed , as well as key macroeconomic indicators and indices are identified and applied when evaluating the impact of logistics sector on sustainable development. The findings indicate that in the context of European Union countries, logistics sectors related with transport and IT factors significantly influence different indices of sustainable development.

scholarly journals Productive Employment for Inclusive and Sustainable Development in European Union Countries: A Multivariate Analysis

2019 ◽  
Vol 11 (6) ◽  
pp. 1771 ◽  
Author(s):  
Maria-Ana Georgescu ◽  
Emilia Herman
Keyword(s):  
European Union ◽  
Sustainable Development ◽  
Recovery Period ◽  
Principal Component ◽  
The European Union ◽  
European Union Countries ◽  
And Cluster Analysis ◽  
Working Poverty ◽  
High Level ◽  
Productive Employment

It is widely recognized that achieving highly productive employment is a serious challenge facing inclusive and sustainable development. In this context, the aim of this article was to highlight the main characteristics and mechanisms of productive employment, focusing on the interrelationships between productive employment, and inclusive and sustainable development in European Union countries, during the recent economic crisis and recovery period (2007–2016). The results of the correlation and regression analysis suggest that the high level of inclusive and sustainable development in some European Union countries can be mainly explained by high labor productivity, an efficient sectoral structure of employment, a low level of vulnerable and precarious employment, and low working poverty. Moreover, the results of the principal component analysis and cluster analysis show that there are common features and differences between the European Union member states in terms of their interrelationship between productive employment, and inclusive and sustainable development, which emphasizes the need to take specific actions to transform unproductive employment into productive employment, especially in southern countries and some central and eastern European countries, so that productive employment will be the driving force for development.

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.

Sign in / Sign up

Export Citation Format

Share Document