Fiscal policies, public investments and wellbeing: mapping the evolution of the EU

Abstract

The European Union faced several crises in the last twenty years that destabilized its macroeconomic equilibrium and development capacity. Standard economic methodologies were capable of neither predicting nor completely solving these crises through appropriate investments. To understand the overall development performance, the well-known Human Development Index (HDI) is the most widely deployed conceptual framework. In this article, we look at the components of welfare dynamics in the EU by examining socio-economic performance. Through a 'beyond gross domestic product (GDP)' approach, we analyse public expenditures, especially focusing on the pillars of growth and socio-economic development:* The research is conceptually related to the activities of the European Topic Centre on Waste, materials and the Green Economy (ETC WMGE, European Environment Agency). It is also within the research activities of the 2018-2022 UNIFE project on Circular economy, Innovations and SMEs funded by MIUR Italian ministry under the 'Departments of excellence' programme, and the activities of the related CERCIS research centre on Circular Economy, Innovation and SMEs.

Measuring the Implementation of the Agenda 2030 Vision in Its Comprehensive Sense: Methodology and Tool

“…HDI is a politically accepted index, it has been used successfully for many years as "the best available alternative to GDP per capita" [43], although problems have already been identified (see, e.g., [44]). HDI is calculated as the geometric mean of three normalized dimension indexes (see Figure 2), thus ensuring a balance between the dimensions [45].…”

“…In fact, G only summarizes the economy in one number, but "it drives government policy a priorities in a variety of vital social fields-from schooling to healthcare" [41]. The "the success of GDP is based on the fact that, with them, politicians were from the able to pursue a whole array of goals beyond just documenting economic processe HDI is a politically accepted index, it has been used successfully for many y "the best available alternative to GDP per capita" [43], although problems have a been identified (see, e.g., [44]). HDI is calculated as the geometric mean of three n ized dimension indexes (see Figure 2), thus ensuring a balance between the dime [45].…”

The growth of the country’s economic security level based on the investment infrastructure development projects

“…At a modern stage, the researchers-economists more often consider it as an integrant factor of economic development (Barnett et al, 2015;Jackson, 2010;Mazzanti et al, 2020), accordingly, at the national level of provision of "efficient" infrastructure formation, required for both the advancement of the economy of the country with a low level of development and provision of the national high level of economic security.…”

Legal regulation of entrepreneurial activity in the national security system

“…The operation of subjects of entrepreneurial activity takes place in an unstable and chaotic business environment, which is characterized by an increase in the degree of its uncertainty, complexity, and unpredictability (Chehabeddine, M., & Tvaronavičienė, M. 2020;Mazzanti, M., 2020;Vasconcelos, V.V. 2021).…”