scholarly journals HAVE PUBLIC DEBT LEVELS RESTRICTED ANTI-CORONAVIRUS FISCAL RESPONSES? EVIDENCE FROM EUROPE

2020 ◽  
Vol 5 (2) ◽  
pp. 1
Author(s):  
Mohammed Kalloub ◽  
Ahmed Musabeh ◽  
Koutibah Alrifai
Keyword(s):  
European Union ◽  
Public Debt ◽  
Financial Management ◽  
Graphical Representation ◽  
Negative Impact ◽  
Panel Data Analysis ◽  
Future Research ◽  
Unique Contribution ◽  
The European Union ◽  
The Impact

Purpose: This study was conducted to analyze the impact of public debt stock in 12 European countries on the size of primary[1] anti-coronavirus fiscal responses, and to explore the general characteristics of these packages in sample countries. Methodology: The sample included only countries from the European Union due to homogeneity in economic standards and legal framework beside the availability of data. However, graphical representation along with regression anlaysis were performed, our key findings indicate a significant negative impact of public debt on the size of primary anti-coronavirus fiscal response and expect a second wave of government borrowing in the near term. Findings: However, this study sheded the light on public debt confirming the importance of maintaining reasonable levels, as a policy recommendation; governments in the European Union are advised to conduct more efforts to reduce public debt stocks and to adopt new effective public financial management rules to overcome the high debt dilemma, since countries with low debt stocks have initiated the largest packages among the sample. Unique contribution to theory, practice and policy: The study recommends that employing data from different geographical areas and occasions to gather more evidence on this topic. Moreover, stimulus packages may be in effect for further periods. Therefore, a series of observations might be accumulated and utilized in panel data analysis to form a cogent evidence on this topic by future research efforts.   [1] Primary fiscal responses are the first fiscal packages announced between the period between March-May 2020.

scholarly journals Public Debt and Economic Growth in the European Union. Empirical Investigation

2021 ◽  
Vol 18 ◽  
pp. 199-208
Author(s):  
Piotr Misztal
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Economic Development ◽  
Public Debt ◽  
Budget Deficit ◽  
Negative Impact ◽  
Foreign Debt ◽  
Budget Deficits ◽  
The European Union ◽  
The Impact

The relatively high sizes of public debts in many of the world's member states have led to frequentdebates concerning the influence of public debt on economic growth. Analyzing economic literature it can beseen, that theoretical and empirical considerations on this topic are divided into three main parties. The firstpart of analyzes is the work of the Keynesians, which emphasizes that the budget deficit as well as the publicdebt positively affects the economic development of the country, mainly through the impact of the budgetexpenditure multiplier. The opposite view on budget deficits and public debt is represented by the neoclassicalschool, who argue that the budget deficit and public debt can have negative impact on economic growth.Conversely, proponents of the Ricardian equivalence concept believe that budget deficits and public debt areneutral for economic growth. These three mentioned above approaches to the budget deficit and public debtproblem have led to many debates at home and abroad about the importance of budget deficit and public debt inthe process of economic growth and economic development of the country. The main objective of the study isto determine the impact of the foreign debt and home debt on economic activity of the country, based on theexample of the 27 member countries of the European Union (without United Kingdom) in the period 2006-2017. The statistics came from the European Statistical Office (Eurostat) and International Monetary Funddatabase (World Economic Outlook).

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 Impact of Nontariff Trade Policy of European Union Crude Palm Oil Import on Indonesia, Malaysia, and the Rest of the World Economy: An Analysis in GTAP Framework

2020 ◽  
Vol 9 (1) ◽  
pp. 39-52
Author(s):  
Rozy A. Pratama ◽  
Tri Widodo
Keyword(s):  
European Union ◽  
Palm Oil ◽  
Computable General Equilibrium ◽  
Negative Impact ◽  
Trade Policies ◽  
The European Union ◽  
The World ◽  
Trade Analysis ◽  
Global Trade Analysis Project ◽  
The Impact

Indonesia and Malaysia are the largest producers and exporters of palm oil in the world vegetable oil market. Palm oil and its derivative products are the highest contributors to foreign exchange in 2018. This study aims to analyze the impact of the European Union import non-tariff trade policies on the Indonesian and Malaysian economies The analysis uses the Computable General Equilibrium (CGE) model of world trade on the Global Trade Analysis Project (GTAP) program. The results of this study found that the non-tariff import policy by the European Union had a negative impact on the economies of Indonesia and Malaysia. Moreover, the policy also has a negative impact on countries in Southeast Asia and the European Union. This shows that the enactment of non-tariff import trade policies for Indonesian and Malaysian palm oil products has a global impact.

scholarly journals Entrepreneurial Innovation: the European Union perspective

2018 ◽  
Vol 18 (2) ◽  
pp. 137-154 ◽  
Author(s):  
Augustin Ignatov
Keyword(s):  
European Union ◽  
Future Research ◽  
The European Union ◽  
Business Innovation ◽  
The North ◽  
Quantitative Analyses ◽  
Entrepreneurial Innovation ◽  
Entrepreneurial Activities ◽  
The Impact

Abstract Entrepreneurship is the driving force of economic development and progress. A successful state, first of all, provides favourable conditions motivating the businesses to grow and flourish. Presently, the European Union is developing unevenly with multiple economic misbalances across the community, the West and the North being more competitive than the South and the East. The aim of the present research is to examine the framework of interdependence between the degree to which the governance quality and economic freedom in the European Union are supporting entrepreneurial activities and the performance of the community in terms of entrepreneurial innovation. The results reached through applying both qualitative and quantitative analyses show that the interdependence between entrepreneurial innovation and regulatory efficiency is strong for many of the European Union states which is determined by multiple factors including the institutional and economic ones. Also, the present paper underlines the importance of the proper regulatory framework for the efficient development of business innovation. The future research on this matter could consider in depth the impact of socio-cultural environment, its influence on the quality of governance and the impact of both upon the European entrepreneurial innovation.

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.

Fiscal Decentralization and Public debt in the European Union

10.4335/171 ◽  
2012 ◽  
Vol 10 (3) ◽  
Author(s):  
Lenka Horváthová ◽  
Julius Horváth ◽  
Vladimír Gazda ◽  
Matúš Kubák
Keyword(s):  
European Union ◽  
Public Debt ◽  
Fiscal Decentralization ◽  
Panel Data Analysis ◽  
Medium Size ◽  
The European Union ◽  
The Public ◽  
Small Countries ◽  
Average Size ◽  
The Relationship

This paper analyses the relationship between fiscal decentralization and the level of the public debt in the twenty seven member countries of the European Union. Our panel data analysis points to the importance of size as fiscal decentralization reduces public debt in large and small countries, but not in medium - size countries. In addition, our results show that the number of government levels and average size of the lowest government unit is insignificant with respect to the public debt in these countries.

scholarly journals Impact of Artificial Intelligence Research on Politics of the European Union Member States: The Case Study of Portugal

2020 ◽  
Vol 12 (17) ◽  
pp. 6708 ◽  
Author(s):  
João Reis ◽  
Paula Santo ◽  
Nuno Melão
Keyword(s):  
Artificial Intelligence ◽  
European Union ◽  
Data Science ◽  
Healthcare Services ◽  
Future Research ◽  
The European Union ◽  
Multimethod Research ◽  
Holistic Understanding ◽  
The Impact

Currently, artificial intelligence (AI) is at the center of academic and public debate. However, its implications on politics remain little understood. To understand the impact of the AI phenomenon on politics of the European Union (EU), we have carried out qualitative multimethod research by performing a systematic literature review and a case study. The first method was performed according to the preferred reporting items for systematic reviews and meta-analyses (PRISMA), in order to report the state-of-the-art in the existing literature and explore the most relevant research areas. The second method contained contributions from experts in data science and AI of the Portuguese scientific community. The results showed that solutions such as intelligent decision support systems are improving the political decision-making process and impacting the Portuguese society at local, regional, and national levels. We also found that practitioners and scientists are currently shifting their interests from environmental and biological sciences to healthcare services, which is bringing new challenges in terms of protecting patient/citizen data and growing concerns about handling of critical information. Future research may focus on comparative studies with other EU States to obtain a comprehensive and holistic understanding of the AI phenomenon.

Rising Public Debt and the Need for Fiscal Consolidation in Europe

2010 ◽  
Vol 211 ◽  
pp. F27-F37
Keyword(s):  
European Union ◽  
Euro Area ◽  
Public Debt ◽  
Economic Activity ◽  
Negative Impact ◽  
The European Union ◽  
Fiscal Consolidation ◽  
The Third ◽  
Positive Growth ◽  
The Eu

The deepest, longest and most broadly-based recession the European Union has ever experienced appears to have come to an end. The third quarter of 2009 saw GDP in the EU increase by 0.3 per cent and economic activity in the Euro Area rose by 0.4 per cent. The recovery is expected to be broadly based across countries. After deep contractions registered in 2009 in all members of the EU (with the exception of Poland), all but four EU economies are expected to have recorded some growth in the second half of 2009. Greece, Ireland, Spain and Latvia suffered more than other EU economies, due to their intrinsic vulnerabilities, which reinforced the negative impact of the global shock. These economies are expected to record only moderate positive growth in 2011.

scholarly journals Effects of Openness on Employment in Turkey and EU Countries

2014 ◽  
Author(s):  
Zekai Özdemir ◽  
İlkay Noyan Yalman ◽  
Çağatay Karaköy
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Current Account Deficit ◽  
Panel Data Analysis ◽  
The European Union ◽  
Trade Effect ◽  
European Union Countries ◽  
Accession Process ◽  
New Research ◽  
The Impact

According to the general theory, it is recognized that exports increase employment. Recently, in the world economy, increasing unemployment, foreign trade of the impact on employment has led to new research. Many of the aforementioned studies validating the theory, some of them have different results. In recent studies in Turkey was a different result. In this study, Turkey and the European Union countries in terms of trade effect on employment will be examined. For this purpose, employment and foreign trade data for the years 2000-2012 using a panel data analysis will be done. Exports, imports, wages, and production depending on the change in employment and the interaction will be investigated. Depending on available data at the sectoral level, there will be a distinction. Especially in the last ten years, the recession and rise in unemployment in Europe will be discussed with the relevant dynamics. In Turkey, the current account deficit, growth, unemployment issues are noteworthy. European Union accession process, Turkey and the European Union countries in the comparison will be significant in the economic indicators.

Foreign direct investment inflows on tax revenues in the transition economies of european union

2016 ◽  
Author(s):  
Hakki Odabas
Keyword(s):  
European Union ◽  
Foreign Direct Investment ◽  
Transition Economies ◽  
Direct Investment ◽  
Panel Data Analysis ◽  
The European Union ◽  
Causality Test ◽  
Tax Revenues ◽  
The Impact ◽  
Foreign Direct Investment Inflows

There have been significant increases in the flows of foreign direct investment inflows in the world together with the globalization process as of 1980s. In this regard, this study examines the impact of foreign direct investment inflows on the tax revenues in the selected transition economies of the European Union including Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia and Slovenia during the period 1996-2012 by using Dumitrescu and Hurlin (2012) causality test. We found that there was unidirectional causality from foreign direct investment net inflows to the tax revenues, and also there was unidirectional causality from foreign direct investment net inflows to the economic growth.Keywords: Tax revenues, foreign direct investment inflows, economic growth, panel data analysis

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