An Empirical View on the Determinants of Sustainable Economic Development: Evidence from EU(28) Member States

Šofranková, Beáta; Kiseľáková, Dana; Onuferová, Erika

doi:10.1051/shsconf/20219101008

Cited by 8 publications

(7 citation statements)

References 18 publications

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“…The results mostly show the expected correlation; more corruption results in less environmental quality. Corresponding results are found by Gallego-Álvarez, Vicente-Galindo, Galindo-Villardón, and Rodríguez-Rosa (2014); Ganda (2020); Rohov, Prykhodko, Kolodiziew, Sybirtsev, and Krupka (2021) and Sofrankova et al (2021). However, Morse (2006) points out that the influence of corruption becomes weaker when per capita income is included as a control variable.…”

Section: Introductionsupporting

confidence: 71%

“…The authors show that more economic freedom is beneficial for environmental performance, except in a group of mostly small high-income countries. Contradictory results are presented by Sofrankova, Kiselakova, and Onuferova (2021) who find that economic freedom does not promote sustainable economic development as defined by the Boston Consulting Group. Herzog and Wood (2014) show that more economic freedom reduces particulate matter, but not carbon emissions.…”

Section: Introductionmentioning

confidence: 99%

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Institutional determinants of environmental performance

Reichel¹

2023

5049

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This note examines the impact of three institutional factors on environmental performance and carbon intensity of gross domestic product (GDP) for a cross-section sample of 154 countries. The institutional factors are democratization, market orientation of the economy, and prevalence of corruption. Per capita income is generally used as a control variable. As the distribution of some of the variables is highly skewed, we apply several robust regression methods, in comparison to ordinary least squares (OLS). Results differ depending on the estimation method, but generally per capita income is negatively related to carbon intensity but positively correlated with environmental performance. The higher the degree of democratization, the better the state of the environment and the lower the carbon intensity. Market orientation of the economy is ambiguous at first sight, but if an interaction variable with the democracy index is applied, the effect is quite large and highly significant. In this case, the impact of the corruption variable fades. Sensitivity analyses reveal, that introducing a democratic market economy is the most promising strategy to promote environmental performance as well as to cut the carbon emission intensity.

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Section: Introductionsupporting

confidence: 71%

Section: Introductionmentioning

confidence: 99%

Institutional determinants of environmental performance

Reichel¹

2023

5049

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“…Only Mushtaq and Ali Khan [35] and Dong and Zhang [36] have discovered a positive effect of proxies representing the business environment on sustainable development. But, Sofrankova et al [37] discovered a negative impact of the business environment on sustainable development. Furthermore, the majority of the empirical studies have usually analyzed the influence of economic freedom indicators on environmental sustainability in panels with different numbers of countries through a regression approach.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of Market-Oriented Business Environment and ICT on Sustainable Development: Panel Evidence from the New EU Member States

Aydıntuğ Myrvang,

Sart,

Danilina

et al. 2023

Sustainability

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Sustainable development has become a key factor in decreasing economic and social inequalities and environmental problems in the world. This problem aligns with the crusade of the United Nations Sustainable Development Goals (UNSDGs-8 and 10). To this end, the present study seeks to identify factors underlying sustainable development for vital and optimal policymaking. The primary objective of the present study is to investigate the influence of a market-oriented business environment together with information and communication technologies (ICT) on overall sustainable development in new EU members who experienced a transition to a market economy for annual frequency period ranging from 2000–2020 via novel cointegration and causality tests adequate to the dataset size and characteristics. The study aimed to make a contribution to the related empirical literature, as there is a paucity of documentation in the extant literature on the nexus between the business environment and overall sustainable development. Furthermore, the use of cointegration and causality tests considering heterogeneity and cross-sectional dependence increased the robustness of the empirical results. The consequences of causality and cointegration analyses uncovered that the market-oriented business environment and ICT were short- and long-run drivers of sustainable development. However, the impact of ICT on sustainable development was relatively stronger than the impact of the market-oriented business environment in the long run. As a result, policies to improve market-oriented business environments, ICT infrastructure, ICT adoption, and digital literacy can be useful to make progress in overall sustainable development.

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“…The idea of sustainable development has gained increasing prominence in recent years as an objective for human civilization (Sofrankova et al, 2021). Sustainable development "focuses on addressing the economic, social, and environmental aspects in a way that fulfills the needs of the current generation while safeguarding the well-being of future generations" (International Institute for Sustainable Development, 2015).…”

Section: Introductionmentioning

confidence: 99%

The role of institutional efficiency in achieving the SDGs: evidence from Africa

Musah

2023

JBSED

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PurposeThe objective of this study is to analyze the influence of institutional quality on the attainment of the Sustainable Development Goals (SDGs) using a data set comprising 45 African nations during the timeframe 2000 to 2020.Design/methodology/approachThe data are divided into two periods, with the Millennium Development Goals (MDGs) data covering the years 2000–2015 and the SDGs data spanning from 2015 to 2020. Controlling for other factors, the researcher employs an index of institutional quality and applies the generalized method of moments (GMM) method to analyze the data.FindingsThe findings demonstrate a noteworthy inverse relationship between institutional quality and the achievement of both the MDGs and SDGs. The findings reveal a significant and positive link between economic growth and the achievement of the MDGs, while the impact on the SDGs is shown to be insignificant. Population growth significantly drives the SDGs. The results further reveal that trade openness and industrialization contribute positively to the achievement of both the MDGs and SDGs.Practical implicationsThe findings emphasize the importance of improving institutional quality, promoting economic growth and supporting trade openness and industrialization for sustainable development in African countries.Originality/valueThe contribution of the study is twofold. Firstly and to the best of the author’s understanding, this research marks an initial endeavor to empirically investigate the nexus between institutional quality and the SDGs in the context of Africa. Secondly, it adds novelty to the literature by examining how institutional quality influences both the SDGs and their precursor the MDGs, providing insights into the actual contribution of institutions to development within the framework of these two major global compacts.

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An Empirical View on the Determinants of Sustainable Economic Development: Evidence from EU(28) Member States

Cited by 8 publications

References 18 publications

Institutional determinants of environmental performance

Institutional determinants of environmental performance

Impact of Market-Oriented Business Environment and ICT on Sustainable Development: Panel Evidence from the New EU Member States

The role of institutional efficiency in achieving the SDGs: evidence from Africa

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