Academic literature on the topic 'Gross domestic product – European Union countries – Effect of Euro on'

This study aims to analyze whether the circular economy variables which include per capita municipal waste production, municipal waste recycling rate, packaging waste recycling rate by type of packaging, bio-waste recycling, and e-waste recycling rates have an effect on economic development. measured by GDP per capita (Gross Domestic Product) in European Union countries. The methodology in this study uses panel data with estimates using the common effect model, fixed effect model, random effect model and uses the best testing method, namely the Chow, Hausman, and Lagrange multiplier tests in 28 countries in the European Union for the period 2000-2020. The results showed that the final model used was the fixed effect model. Overall the concept of a circular economy which includes the level of recycling of municipal waste, the level of recycling of packaging waste by type of packaging, recycling of bio-waste, recycling of e-waste and added value in the Euro currency has a significant and positive effect on economic development as measured through per capita income, while waste production per capita is inversely proportional to that it has no significant and positive effect on economic development in European Union countries. It can be concluded that the application of the circular economy concept can ensure economic growth while reducing the use of natural resources and ensuring great environmental protection.

European citizenship celebrated its twentieth anniversary during the most difficult and uncertain moment of the Union's crisis. The real economy has now been fully saturated by the financial crisis far beyond the borders of the Euro-Mediterranean area, with devastating social effects in those countries most affected. The prolonged vertical drop of the gross domestic product in Greece—the epicenter of the crisis—has been intertwined with a dramatic and unprecedented growth of levels of unemployment and social suffering in a vortex destructive to the point of validating the perception, now widespread not only within the bewildered public opinion of that unfortunate country, that the “rescue” of the Union has been based on a cure that is worse than the disease. The recent general elections in Italy, a country key for the stability and indeed the survival of the Euro-zone, have produced a situation of fragmentation and political instability that is both unprecedented and disquieting. Among the few elements of certainty in Italy can be found a widespread Euro-skepticism, if not an openly anti-European mood, that is also unprecedented in the history of the country's public opinion, which historically is among the most favorable towards a strengthening of the integration process. With the worsening of the economic and social crisis, the very tenacious confidence in Europe as a positive “external constraint” which has supported Italy's efforts towards reforms, commencing with its admission into the Euro-zone in the latter 1990s until the most recent experience of the technocratic government headed by Mario Monti, seems to have declined. Everywhere in Europe, a sense of frustration and distrust in recent years has grown against the Union and its frantically sought capacity to respond to the crisis without finding truly effective outcomes.

Innovations in the Practice of Production and Trade Enterprises in EU CountriesModern theories are increasingly focusing on innovations. Scientific literature states that the implementation of innovations causes increase in sales volume: enterprises are improving the organization of production and trade methods, reducing production and trade costs, producing and selling competitive products as a result of technological progress. Technological progress also influences the development of production and trade prospects. Although the implementation of innovations is different, the main aspects are related to the novelty of product, production and service R&D intensity and the qualification of employees. Enterprises without the capacity to innovate may invest time and resources in studies of research results but are unable to transform this knowledge into practice Hult et al., 2004. In such sense it is important to create innovative behaviors and related outcomes on country level Koellinger, Thurik, 2009.Production and trade enterprises have a significant impact on the national economy, but the number of enterprises that have excellent understanding about innovations and their results is not sufficient. Sales of the trade enterprises in the European Union amount to 66%, and 74% of gross domestic product GDP in Lithuania. At the same time sales of the production enterprises in the European Union amount to 15.5% of GDP, and in Lithuania — 21% of GDP. Production and trade enterprises play a significant part among business companies. In corporate structure of the European Union 9.8% of companies are production companies which employ 22.6% of EU workers, while in the structure of the European Union 28.6% of companies are trade companies and these companies employ 24.7% of EU workers. However, in the trade sector there are 90% of companies, and in the production — 84% of companies with up to nine employees Euro-stat, 2010. Nevertheless, the European Commission’s 2013 study shows the declining contribution of production enterprises to GDP. Eurostat 2010 statistics show that small and medium-sized manufacturing companies are very slow to improve their operations and labor productivity. The EU com­panies are anticipated to increase by only 2.4% compared with the US companies, where growth of labor productivity is 3.5%Therefore, innovations are also important for the EU trade and production companies. To sum up the above set out material, it can be said that the application of innovations must be considered as a very complex cognitive subject.The article consists of three parts to fully examine the implementation of innovations in production and trade enterprises.First, literature analysis is carried out and topic related aspects are identified. In the second part the paper presents empirical research methodology. Herein, practices of production and trade enterprises are presented, comparison of production and trade enterprises is carried out, and effects on the activeness of enterprises regarding the opportunities of innovation implementation in this area are analyzed.In the third part the article presents empirical research results, conclusions and recommendations. Literature analysis reveals that the greatest role innovation plays in international companies, however the number of such enterprises is very small in the EU. The results also show that produc­tion and trade companies from Luxembourg have higher competitiveness than the enterprises from other countries. Overall the paper glances into whether, to what extent, how companies innovate, and how this differs between production and trade service industries.

On the 31st of December 2021, the euro celebrated its two decades in circulation. Initially, twelve countries adopted the euro as their new national currency, Greece being one of them. Starting in 2020, euro is the official currency of nineteen European Union countries. This paper aims to examine three issues. Firstly, the paper investigates Greek people’s perception about the euro, using data from the recent issue of the Eurobarometer (December 2021). Secondly, the economic performance of Greece is briefly examined by comparing the Greek Gross Domestic Product (GDP) two decades before and two decades after the introduction of euro. Finally, the Greek participation to the eurozone has been a controversial, political issue. The political developments in Greece during the first two decades of the euro are also studied, emphasizing the dramatic political events after the double elections of 2012. The period of the two decades ends with the detrimental impact of COVID-19. This issue is also mentioned by reviewing some recent publications. Keywords: Eurozone, Greece, GDP, per capita GDP, Eurobarometer, euro, elections, politics

The turn of the century was full of dynamic and multi-dimensional changes in the global economy. The most spectacular phenomena may include financial crises. They exerted influence not only on the economy, in which they appeared, but as a result of deepening of globalization, spread "infecting" others. The purpose of this article was an attempt to find similarities in the dynamics of changes in production and global demand that characterized the economy of the selected European Union countries. The starting point was to show the dynamics of gross domestic product (GDP) in selected countries and to find similarities between them. In the next section attention was focused on the changes in the two components of aggregate demand: consumption and investment, particularly on their correlation with the rate of change of GDP. For analysis and comparisons the following economies were selected: the economy of the European Union (represented by the euro zone) and the economy of Central and Eastern Europe.

The European Commission has adopted a very ambitious circular economy package and has consequently revised many legislative proposals on waste. The new targets include achieving a recycling rate of 65% by 2030 and imposing a cap on landfilled waste to no more than 10% (as a percentage of weight). Using available European and national databases on municipal solid waste indicators, we have analysed municipal solid waste production trends for Croatia and have benchmarked the indicators against other EU member states and EU averages. Our analysis points out that the production of municipal solid waste has steadily risen over the last two decades. Although Croatia produces a relatively low amount of municipal solid waste compared with other EU countries and EU averages, gross domestic product adjusted waste production reveals that for every euro of gross domestic product Croatia produces substantial amounts of municipal solid waste. As a matter of fact, among all the EU member states, only Bulgaria had a worse performance than Croatia. Regarding recycling rates, Croatia recycles 15% of its municipal solid waste and incinerates approximately 3% (by weight). The rest (82% by weight) is currently being landfilled. Regarding the treatment of waste, Croatia has implemented mechanical–biological treatment technology, but our analysis reveals that the initial number of mechanical–biological treatment plants will likely have to be scaled down taking into consideration the new EU waste management targets.

The milk market in the European Union (EU) is adjusting rapidly to the removal of dairy quotas. The most important changes include increased milk yield per cow, increased total milk production, decreased number of cows, and the decreased milk consumption. The main aim of the paper is to examine the milk production changes in the EU. We investigated the dynamics of changes in farm milk production during the period from 1998–2017 in the EU. Moreover, we investigated the impact of the removal of quotas on the production of milk on farms in the EU countries for the period from 2015–2017. Milk production in the EU increased from 151 million tons in 1998 to 165 million tons in 2017 (a 10% increase). A multi-variate regression model was to test which explanatory variables have an impact on milk production in the EU. The most important factors were a gross domestic product, final household consumption expenditure (current prices, million euro), and population (number).

This paper analyzes the evolution and influence of gross domestic product per capita, labor force participation rate, gross fixed capital formation, and personal remittances on economic growth for European Union (EU) countries, using data from the World Bank (1996–2019) and from Eurostat (the first two quarters 2019–2020). The study has three components: statistical analysis, analysis of the evolution for each country and EU, and estimation of the impact on economic growth rate by using a linear multifactorial regression model for 1996–2019, 1996–2008, and 2009–2019. The model was validated by econometric techniques. The long-term causal relationship between exogenous and endogenous variables was validated by the Granger test. The results of the study show a differentiated evolution of the indicators, and that all indicators are severely affected by the 2008 financial crisis and the debut of the COVID-19 crisis in early 2020. The model used shows the significant positive influence of labor and investment, and the minor effect of remittances on economic growth. In the context of the COVID-19 epidemic, the results of the study could be arguments to be considered for the redesign of economic policies at European Union level.

The level of tax revenue represents one of the most important issues for every country, especially in extraordinary circumstances. The aim of this paper is to identify which macroeconomic determinants are important to total tax revenue in order to determine which variables are the key generators of tax revenue collection. The subject of this research represents the estimating effects of selected macroeconomic determinants on total tax revenue in European Union countries from 2006 to 2018. Empirical analysis includes three panel regression models where total tax revenue, direct tax revenue and indirect tax revenue are determined as dependent variables. Results of fixed effects model show that 1% increase of GDP enhances total tax revenue for 6.91%. Government expenditure, total investment and population have positive effect on total tax revenue where 1% increase of these determinants raise total tax revenue for 2.38%, 0.001% and 0.57% in these countries. Contrary, inflation, unemployment and gross national savings negatively affect the total tax revenue where their growth by 1% cause lower level of total tax revenue for 3.72%, 0.001% and 1.48%. Likewise, gross domestic product and total investment lead to greater change of direct tax revenue and indirect tax revenue. Empirical findings show that governments.

The objective of this paper is to study the influence of the international economic conjuncture on Bulgaria’s economic growth and business cycle. A vector autoregression (VAR) is employed to identify the main factors, which affect the growth and cyclicality of Bulgaria, the size and the direction of their impact. The cause-and-effect links between external economic conditions, the growth of real gross domestic product (GDP) and the output gap of Bulgaria have been investigated. The external opportunities and threats facing the Bulgarian economy under a currency board arrangement and a membership in the European Union have been outlined. Recommendations have been made on appropriate policies for using external opportunities and overcoming external threats. The study results indicate that the main international determinants of Bulgaria’s economic growth and business cycle are macroeconomic policies in the Euro Area.

This chapter lays down the focus of the book: Southern Europe, particularly Italy, Spain, Portugal, and Greece. It outlines the several good reasons why Southern Europe should be studied more carefully. This includes the region's relatively extensive contribution to European wealth. Italy and Spain are the third- and fourth-largest European Union economies in terms of gross domestic product, respectively, and around a quarter of EU citizens live in Southern Europe. Another reason cited was the importance of improving a more analytical understanding of capitalist models that are not usually studied. Then the chapter highlights that Southern Europe was not just the most severely hit EU region during the euro crisis which started in 2010, but also the one that experienced the most difficulty in recovering. The chapter underscores the unstable growth of the Mediterranean economies, compared to the Nordic and Central and Eastern European countries. Furthermore, it explores how to study Southern Europe's political economies using old and new analytical tools. It raises these two main questions that the book intends to answer: Why do Southern Europe economies share difficulties in being competitive and finding a stable growth pattern in the global economy? How likely is it that the four countries will follow different paths in the future and increasingly diverge?

In the past several decades a new challenge has arisen, and it refers to the rapid demographic ageing of the population in developed and developing countries, quite opposite to the previous understanding of overpopulated planet. Increase in the older population brings its implications to different segments of the society, and the national health system and its funding is one of them. This paper tends to analyze if there is a relationship between the government health expenditure and the increase in the older population in fourteen countries from the European Union that are experiencing most intense process of demographic ageing. Also, other possible determinants of the health expenditures are included, such as government social spending, gross domestic product per capita and dummy variable to estimate the effect of the global recession onto the health expenditure.