scholarly journals How Fiscal Policy in Bulgaria may Affect the Transition to a Low Carbon Economy?

2020 ◽  
Vol 26 (4) ◽  
pp. 525-535
Keyword(s):  
Fiscal Policy ◽  
Policy Instruments ◽  
Macroeconomic Policy ◽  
Currency Board ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Policy Goals ◽  
Short Run ◽  
Macroeconomic Environment ◽  
Carbon Economy

The adaptation of traditional macroeconomic policy goals to new ecological realities assigns a specific role to macroeconomic policy. We model the short-run transmission mechanism of fiscal policy under Currency Board Arrangements in Bulgaria in order to assess the fiscal policy potential to boost sustainable economic development and compensate for the economic growth losses due to decarbonisation of the economy. We find that fiscal policy instruments in Bulgaria have no statistically significant effect on GDP components considered separately but they do have a complex effect on macroeconomic environment in the country. This indicates that specific fiscal policy effects to support the transition to a low-carbon economy in Bulgaria cannot be expected and the structural policies should be followed.

scholarly journals The Dynamics of Cyclical Convergence and Decoupling in the Environmental Performance of Spanish Regions

2020 ◽  
Vol 12 (20) ◽  
pp. 8569
Author(s):  
Alfredo Cabezas-Ares ◽  
María Jesús Delgado-Rodríguez ◽  
Sonia de Lucas-Santos
Keyword(s):  
Environmental Performance ◽  
Recursive Estimation ◽  
Dynamic Factor ◽  
Low Carbon ◽  
Low Carbon Economy ◽  
Estimated Parameters ◽  
Spanish Regions ◽  
Short Run ◽  
The Stability ◽  
Carbon Economy

Spain is aiming at moving towards a low-carbon economy. The success of this task will depend on the capacities of Spanish regions to follow the national energy and climate strategy and decarbonize their economies. In this paper, we analyze the CO2 fluctuations and links with economic activity, throughout the period 1990 to 2018, using dynamic factor and recursive estimation models. We confirm the robustness of our results by testing the stability of the estimated parameters. Our findings show that the dynamics of the pattern of synchronization and decoupling of the regions are quite similar. Nonetheless, there are significant differences regarding the comparison of levels and trajectories across regions, emphasizing the need to intensify efforts to achieve national objectives. This study highlights interest in utilizing the proposed approach for the analysis of the short-run dynamics of environmental performance.

Ethical study on low carbon economy

2014 ◽  
Author(s):  
Fang Sun ◽  
Xin-ge Tang
Keyword(s):  
Low Carbon ◽  
Low Carbon Economy ◽  
Carbon Economy

The development of green finance model in low carbon economy

2019 ◽  
Vol 1 (1) ◽  
pp. 22-26
Author(s):  
Xu Yaowen
Keyword(s):  
Low Carbon ◽  
Low Carbon Economy ◽  
Green Finance ◽  
Finance Model ◽  
Carbon Economy

scholarly journals Determinants of Non-Linear Effects of Fiscal Policy on Output: The Case of Bulgaria

2009 ◽  
Vol 4 (1) ◽  
pp. 51-61 ◽  
Author(s):  
Vladimir Vladimirov ◽  
Maria Neycheva
Keyword(s):  
Fiscal Policy ◽  
Currency Board ◽  
Main Determinant ◽  
The Real ◽  
Real Gdp ◽  
Non Linear ◽  
Short Run ◽  
Linear Effects ◽  
Policy Impacts ◽  
The Government

Determinants of Non-Linear Effects of Fiscal Policy on Output: The Case of BulgariaThe paper illuminates the non-linear effects of the government budget on short-run economic activity. The study shows that in the Bulgarian economy under a Currency Board Arrangement the tax policy impacts the real growth in the standard Keynesian manner. On the other hand, the expenditure policy exhibits non-Keynesian behavior on the short-run output: cuts in government spending accelerate the real GDP growth. The main determinant of this outcome is the size of the discretionary budgetary changes. The results imply that the balanced budget rule improves the sustainability of public finances without assuring a growth-enhancing effect.

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