Journal articles on the topic 'Gross domestic product – European Union countries – Effect of Euro on'
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1
Azwardi, Azwardi, Alghifari Mahdi Imago, and Wahyu Aji Wijaya. "The Concept of Waste Management on Economic Development in the European Union." International Journal of Energy Economics and Policy 13, no. 1 (January 22, 2023): 1–6. http://dx.doi.org/10.32479/ijeep.13667.
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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.
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Giubboni, Stefano. "European Citizenship and Social Rights in Times of Crisis." German Law Journal 15, no. 5 (August 1, 2014): 935–63. http://dx.doi.org/10.1017/s2071832200019210.
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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.
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Burinskienė, Aurelija, and Vita Marytė Janušauskienė. "Innovations in the Practice of Production and Trade Enterprises in EU Countries." Ekonomia 22, no. 1 (November 3, 2016): 9–33. http://dx.doi.org/10.19195/2084-4093.22.1.1.
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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.
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Papanikos, Gregory T. "Greece in the Eurozone: An Evaluation of the First Two Decades." Athens Journal of Business & Economics 8, no. 2 (January 5, 2022): 177–92. http://dx.doi.org/10.30958/ajbe.8-2-5.
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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
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Rydarowska-Kurzbauer, Joanna. "GDP Fluctuation and Changes in Consumption and Investment. Comparative Analysis of Polish Economy and Some Countries of the European Union." Equilibrium 7, no. 3 (September 30, 2012): 43–53. http://dx.doi.org/10.12775/equil.2012.018.
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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.
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Traven, Luka, Igor Kegalj, and Iva Šebelja. "Management of municipal solid waste in Croatia: Analysis of current practices with performance benchmarking against other European Union member states." Waste Management & Research: The Journal for a Sustainable Circular Economy 36, no. 8 (July 30, 2018): 663–69. http://dx.doi.org/10.1177/0734242x18789058.
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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.
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Bórawski, Piotr, Adam Pawlewicz, Andrzej Parzonko, Jayson, K. Harper, and Lisa Holden. "Factors Shaping Cow’s Milk Production in the EU." Sustainability 12, no. 1 (January 6, 2020): 420. http://dx.doi.org/10.3390/su12010420.
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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).
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Soava, Georgeta, Anca Mehedintu, Mihaela Sterpu, and Mircea Raduteanu. "Impact of Employed Labor Force, Investment, and Remittances on Economic Growth in EU Countries." Sustainability 12, no. 23 (December 4, 2020): 10141. http://dx.doi.org/10.3390/su122310141.
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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.
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Kalaš, Branimir, Jadranka Đurović-Todorović, and Marina Đorđević. "Panel estimating effects of macroeconomic determinants on tax revenue level in European Union." Industrija 48, no. 3 (2020): 41–57. http://dx.doi.org/10.5937/industrija48-27820.
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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.
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Todorov, Ivan, Stoyan Tanchev, and Petar Yurukov. "IMPACT OF EXTERNAL SHOCKS ON BULGARIA’S GROWTH AND CYCLE." Balkans Journal of Emerging Trends in Social Sciences 2, no. 2 (2019): 158–68. http://dx.doi.org/10.31410/balkans.jetss.2019.2.2.158-168.
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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.
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GHETU, Raluca Andreea, Cristina-Simona CĂPĂȚÎNĂ, and Petre BREZEANU. "THE EVOLUTION OF FISCAL PRESSURE IN DEVELOPED E.U. COUNTRIES AND ITS DETERMINANTS." ANNALS OF THE UNIVERSITY OF ORADEA. ECONOMIC SCIENCES 30, no. 2 (December 2021): 239–49. http://dx.doi.org/10.47535/1991auoes30(2)025.
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Since 1970, the intensity of implementing budgetary policies in the two categories of states, developed states, and emerging states, has been observed in Europe. These policies had the effect of increasing the levels of taxation, also called progressive taxation, at that time. To stop this phenomenon of progressive taxation, the Maastricht Treaty and then the Stability and Growth Pact have had the effect of forcing states to adopt different fiscal policies to reduce the feeling of fiscal pressure made necessary by budgetary deficiencies and public debt accumulated over time. In fact, since the 1990s, each Member State of the European Union has interpreted the treaties mentioned above separately; some states reduced spending, while others preferred to impose more significant fiscal pressure on citizens by raising taxes and fees. In our article, we analyze and disseminate the general fiscal pressure of some developed countries in the European Union. We identify the economic priority indicators that influence the phenomenon of fiscal pressure, such as the level of direct taxes, indirect taxes, the growth rate of gross domestic product, and the level of public debt, providing an overview of economic development over the last three decades.To this end, the authors have developed an econometric model that captures the factors that influence the fiscal pressure in several developed countries of the European Union in the period 1995-2018.
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Davidson, Natalia, Elizaveta Maksimova, and Oleg Mariev. "How does renewable energy consumption affect economic growth? Evidence from the European Union countries." SHS Web of Conferences 129 (2021): 09005. http://dx.doi.org/10.1051/shsconf/202112909005.
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Research background: Fossil fuels are used at such a high rate that they are currently being depleted. Moreover, they are associated with a greenhouse effect leading to global warming. Meanwhile, green energy is naturally replenished and fosters sustainable development (Nelson and Starcher, 2015). However, the empirical evidence of the impact of green energy on economic growth is controversial (Adewuyi and Awodumi, 2017; Chen et al., 2020; Destek and Aslan, 2017; Zafar et al., 2018). Purpose of the article: This paper analyses the impact of renewable energy consumption on economic growth in the European Union (EU) countries. This is important in line with the goals of EU to shift towards green energy during the coming years (Directive (EU) 2018/2001). Methods: We use data of the World Bank and Our World in Data over 1990 to 2015 for 28 EU countries. We estimate the impact of renewable energy consumption on the countries’ gross domestic product. The control variables are labor force, research and development, and foreign direct investment. We apply the pooled mean group, mean group, the dynamic fixed effect estimators (Pesaran, 1997; Pesaran et al., 1999), and generalized method of moments (Arellano & Bond, 1991). Findings & Value added: Results show that the renewable energy consumption positively affects economic growth of the EU countries. We contribute by shedding light on the possibility to develop renewable energy, while achieving economic growth. The results have important implications for economic policy.
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Trpkova-Nestorovska, Marija. "Viable health funding in time of demographic ageing." Economy, Business and Development: An International Journal 3, no. 1 (May 31, 2022): 15–27. http://dx.doi.org/10.47063/ebd.00008.
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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.
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Börke Tunalı, Çiğdem, and Naci Tolga Saruç. "An Empirical Analysis on the Relationship between Health Care Expenditures and Economic Growth in the European Union Countries." European Journal of Medicine and Natural Sciences 2, no. 1 (March 2, 2018): 12. http://dx.doi.org/10.26417/ejmn.v2i1.p12-17.
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This paper empirically investigates the relationship between health expenditure and economic growth in the European Union countries over the period 1995-2014. By using the Dumitrescu-Hurlin Test (Dumitrescu and Hurlin, 2012) which is developed to test Granger causality in panel datasets (Lopez and Weber, 2017), it is found that there is a unidirectional relationship between these variables and gross domestic product (GDP) per capita Granger causes health expenditure per capita. After determining the direction of the relationship between health expenditure per capita and GDP per capita we estimate the short run and the long run effects of GDP per capita on health expenditure per capita by using Mean Group (MG) and Pooled Mean Group (PMG) estimators which are developed by Pesaran and Smith (1995) and Pesaran, Shin and Smith (1999) respectively. According to the estimation results, GDP per capita has a positive effect on health expenditure per capita both in the short run and the long run.
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Börke Tunalı, Çiğdem, and Naci Tolga Saruç. "An Empirical Analysis on the Relationship between Health Care Expenditures and Economic Growth in the European Union Countries." European Journal of Medicine and Natural Sciences 4, no. 2 (October 15, 2021): 11. http://dx.doi.org/10.26417/682jde51h.
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This paper empirically investigates the relationship between health expenditure and economic growth in the European Union countries over the period 1995-2014. By using the Dumitrescu-Hurlin Test (Dumitrescu and Hurlin, 2012) which is developed to test Granger causality in panel datasets (Lopez and Weber, 2017), it is found that there is a unidirectional relationship between these variables and gross domestic product (GDP) per capita Granger causes health expenditure per capita. After determining the direction of the relationship between health expenditure per capita and GDP per capita we estimate the short run and the long run effects of GDP per capita on health expenditure per capita by using Mean Group (MG) and Pooled Mean Group (PMG) estimators which are developed by Pesaran and Smith (1995) and Pesaran, Shin and Smith (1999) respectively. According to the estimation results, GDP per capita has a positive effect on health expenditure per capita both in the short run and the long run.
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Miftari, Florije. "The relationship between the public debt and economic growth: The case of upper-middle-income European countries." Corporate and Business Strategy Review 3, no. 1 (2022): 96–104. http://dx.doi.org/10.22495/cbsrv3i1art9.
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Most results from numerous studies show that the public debt rate has a negative effect on economic growth (Misztal, 2021; Panizza & Presbitero, 2014; Afonso & Alves, 2015; Reinhart & Rogoff, 2010a). Therefore, the aim of this paper is to empirically analyze the relationship between the public debt and economic growth for 16 upper-middle-income European countries for the period from 2000 to 2020. Our sample consists of three subgroups: the countries of the Western Balkans, upper-middle-income countries states members of the European Union (EU), and other developing European countries. The study employs panel regression models such as ordinary least squares (OLS), fixed-effects, and random-effects models, in order to test the relationship of the public debt-to-gross domestic product (GDP). Almost all models indicate that the relationship between debt-to-GDP is weakly negatively correlated with economic growth, where a 1% increase in debt-to-GDP decreases economic growth by 0.034%, even the average debt-to-GDP of our sample is 35.02%. Moreover, the findings of this study contribute to the literature regarding the public debt ratio and economic growth in developing countries.
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Ortega-Gil, Manuela, Chaima ElHichou-Ahmed, and Antonio Mata-García. "Effects of Immigrants, Health, and Ageing on Economic Growth in the European Union." International Journal of Environmental Research and Public Health 20, no. 1 (December 23, 2022): 224. http://dx.doi.org/10.3390/ijerph20010224.
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Population ageing and low birth rates are two problems of the EU that have an impact on employment, production, and economic growth. Against this background, immigration, health expenditure, and the health of migrants must become a key element of European policy. For this reason, this paper focused on identifying the effect of immigration, health, and ageing on economic growth in order to highlight their importance from an economic perspective. We constructed different econometric models with Eurostat data for 27 countries and 13 years (2008–2020), whose dependent variable was gross domestic product. Independent variables were the number of immigrants by gender and age, health expenditure per capita (total and by function), immigrants’ perception of their health as very good, and the proportion of the population aged 65 years and over. The model selected to analyze the results was Prais–Winsten regression heteroskedastic panels corrected standard errors modeled by applying the option (ar1) to correct for autocorrelation, using Stata software (version 16). The results show that health expenditure has a significant positive effect on economic growth, higher in hospital services, followed by medical products; immigrants’ perception as very good is only significant in some models. The number of immigrants has a (positive) effect, although less significant than public expenditure on health. Its effect is larger when the immigrant is aged between 15 and 64 years and smaller for male immigrants than for female immigrants. Without the ageing variable, immigration is not significant. Moreover, there are significant differences between European countries in relation to the variables analyses (immigration, immigrants’ perception of their health, ageing and public expenditure on health, and public expenditure on health according to function). This may be due to the different regulations on both immigration and public health in the countries that make up the European Union.
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Liobikienė, Genovaitė, and Justina Mandravickaitė. "ACHIEVEMENTS OF LITHUANIAN SUSTAINABLE DEVELOPMENT DURING THE INTEGRATION PROCESS INTO THE EUROPEAN UNION." Technological and Economic Development of Economy 17, no. 1 (March 17, 2011): 62–73. http://dx.doi.org/10.3846/13928619.2011.554000.
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After the collapse of the Soviet Union, Lithuania rapidly started turning towards European trade patterns averting from those of the former communist regime. However, European integration has had an effect not only on convergence of gross domestic product (GDP) but also on convergence of prices as well as on alteration of living standards. The goals of Lithuanian integration to the EU were noted in the National Lithuanian Sustainable Development Strategy. The key objective of sustainable development in Lithuania was to achieve the present developmental level of the EU countries according to indicators of economic and social development. Therefore, the paper compares the convergence across the old and newer member-states of the EU in terms of GDP, household final consumption expenditure and comparative price level indices. In addition, it is revealed that Lithuanian expenditure patterns rapidly approach those of the old member-states of the EU. Consequently, Lithuanian integration to the EU contributes to approaching the EU-15 level what means the successful achievements of Sustainable Development Strategy as well. So, the aim of this paper is to show how successful are Lithuanian sustainable development achievements in terms of GDP, comparative price level and household expenditure within framework of integration to the EU.
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Chzhen, Yekaterina. "Unemployment, social protection spending and child poverty in the European Union during the Great Recession." Journal of European Social Policy 27, no. 2 (December 23, 2016): 123–37. http://dx.doi.org/10.1177/0958928716676549.
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The 2008 financial crisis triggered the first contraction of the world economy in the post-war era. This article investigates the effect of the Great Recession on child poverty across the EU-27 plus Iceland, Norway and Switzerland and studies the extent to which social protection spending may have softened the negative impact of the economic crisis on children. While the risks of child poverty are substantially higher in countries with higher rates of working-age unemployment, suggesting a significant impact of the Great Recession on household incomes via the labour market, the study finds evidence for social protection spending cushioning the blow of the crisis at least to some extent. Children were significantly less likely to be poor in countries with higher levels of social protection spending in 2008–2013, even after controlling for the socio-demographic structure of the population, per capita gross domestic product (GDP) and the working-age unemployment rate. The poverty-dampening contextual effect of social spending was greater for the poverty risks of children in very low work intensity families and large families. The study uses two complementary thresholds of income poverty, both based on 60 percent of the national median: a relative poverty line and a threshold anchored in 2008. Although the choice of a poverty line makes a difference to aggregate child poverty rates, individual-level risks of a child being poor associated with a range of household-level characteristics are similar for the two poverty lines.
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Chen, Xi. "Nighttime Lights and Population Migration: Revisiting Classic Demographic Perspectives with an Analysis of Recent European Data." Remote Sensing 12, no. 1 (January 3, 2020): 169. http://dx.doi.org/10.3390/rs12010169.
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This study examines whether the Visible Infrared Imaging Radiometer Suite (VIIRS) nighttime lights can be used to predict population migration in small areas in European Union (EU) countries. The analysis uses the most current data measured at the smallest administrative unit in 18 EU countries provided by the European Commission. The ordinary least squares regression model shows that, compared to population size and gross domestic product (GDP), lights data are another useful predictor. The predicting power of lights is similar to population but it is much stronger than GDP per capita. For most countries, regression models with lights can explain 50–90% of variances in small area migrations. The results also show that the annual VIIRS lights (2015–2016) are slightly better predictors for migration population than averaged monthly VIIRS lights (2014–2017), and their differences are more pronounced in high latitude countries. Further, analysis of quadratic models, models with interaction effects and spatial lag, shows the significant effect of lights on migration in the European region. The study concludes that VIIRS nighttime lights hold great potential for studying human migration flow, and further open the door for more widespread application of remote sensing information in studying dynamic demographic processes.
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Drastichová, Magdaléna, and Peter Filzmoser. "The Relationship Between Health Outcomes and Health Expenditure in Europe by Using Compositional Data Analysis." Problemy Ekorozwoju 15, no. 2 (July 1, 2020): 99–110. http://dx.doi.org/10.35784/pe.2020.2.11.
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The type of health system in each country and the resources devoted to it determine its outcomes. Relationships between ratios of expenditure to Gross Domestic Product (GDP) classified by provider and indicators reflecting health outcomes in 2015 are examined for 30 countries by means of a compositional data analysis and a regression analysis. The countries in the sample are the European Union (EU-28) countries plus Iceland and Norway. The outcome indicators used are life expectancy at birth (LE); healthy life years in absolute value at birth for females (HLYf) and for males (HLYm); and death rate due to chronic diseases (DR) (response variables). The results indicate that the higher the ratio of expenditure on retailers and other providers of medical goods in relation to other types of expenditure in the composition, the higher the DR indicator and the lower the LE indicator. The ratio of expenditure on residential long-term care facilities in the composition seems to have had a positive effect on both HLY indicators. The effect of expenditure ratios on providers of healthcare system administration and financing is not straightforward.
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Bătrâncea, Larissa. "Does Economic Growth and Inflation Impact Consumer Confidence during a Pandemic? An Empirical Analysis in EU Countries." Marketing – from Information to Decision Journal 3, no. 1 (June 1, 2020): 5–13. http://dx.doi.org/10.2478/midj-2020-0001.
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Abstract The study investigates the capacity of European Union member states to face the effects of the economic crisis caused by the COVID-19 pandemic. Namely, by means of a panel data analysis, the study reports on the impact of economic growth (proxied by gross domestic product) and inflation rates (proxied by harmonized indices of consumer prices) on the overall confidence indicator corresponding to 27 EU countries for the period fourth quarter 2019–third quarter 2020. Results showed that inflation had a negative influence on the confidence indicator during the pandemic crisis, while economic growth had no impact. The negative effect triggered by inflation uncovered the impact of monetary policies and fiscal policies on the staggering level of public debt. The study emphasizes that inflation plays a significant role in the market economy, reason for which governments should monitor this factor when trying to stimulate the economy and set appropriate policies for eliminating negative consequences of potential future recession periods.
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Hashani, Medain, Besime Ziberi, and Roberta Bajrami. "The rule of thumb: Private consumption as a driving force of the economic growth of Western Balkan countries." Journal of Governance and Regulation 11, no. 3 (2022): 54–60. http://dx.doi.org/10.22495/jgrv11i3art5.
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Private consumption is considered one of the main drivers of economic growth in Western Balkan countries. The main aim of this study is to estimate the impact of private consumption on the economic growth of the Western Balkans, including the North Macedonia, Kosovo, Albania, Montenegro, Bosnia and Herzegovina, and Serbia. Housing wealth was even the main driver of total private consumption in the European Union (EU) countries as a whole (Barradas, 2017). Based on an extensive literature review for panel data, this study uses econometric models with fixed effect, random effect, and Hausman-Taylor test. The data are taken from the World Development Indicators by country (The World Bank, n.d.) and cover the period 2010–2019. Based on the Hausman-Taylor test, the model that fits a small sample as in our case is chosen as the fixed effect. The results of the estimator show that a 1% increase in final consumption leads to a 0.43% increase in gross domestic product (GDP) growth and that, on the other hand, a 1% increase in the employment rate increases GDP by 0.11%. The most important domestic factor continues to be private consumption, driven by record levels in the labour market and further strengthening of household purchasing power (Bank of Slovenia, 2020). The study concludes that private consumption is the main driver of economic growth and sustainability in the case of the Western Balkans.
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Badulescu, Daniel, Ramona Simut, Alina Badulescu, and Andrei-Vlad Badulescu. "The Relative Effects of Economic Growth, Environmental Pollution and Non-Communicable Diseases on Health Expenditures in European Union Countries." International Journal of Environmental Research and Public Health 16, no. 24 (December 14, 2019): 5115. http://dx.doi.org/10.3390/ijerph16245115.
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National and global health policies are increasingly recognizing the key role of the environment in human health development, which is related to its economic and social determinants, such as income level, technical progress, education, quality of jobs, inequality, education or lifestyle. Research has shown that the increase of GDP (Gross Domestic Product) per capita can provide additional funds for health but also for environmental protection. However, often, economic growth is associated with the accelerated degradation of the environment, and this in turn will result in an exponential increase in harmful emissions and will implicitly determine the increasing occurrence of non-communicable diseases (NCDs), mainly cardiovascular diseases, cancers and respiratory diseases. In this paper, we investigate the role and effects of economic growth, environmental pollution and non-communicable diseases on health expenditures, for the case of EU (European Union) countries during 2000–2014. In order to investigate the long-term and the short-term relationship between them, we have employed the Panel Autoregressive Distributed Lag (ARDL) method. Using the Pedroni-Johansen cointegration methods, we found that the variables are cointegrated. The findings of this study show that economic growth is one of the most important factors influencing the health expenditures both in the long- and short-run in all the 28 EU countries. With regards to the influence of CO2 emissions on health expenditure, we have found a negative impact in the short-run and a positive impact on the long-run. We have also introduced an interaction between NCDs and environmental expenditure as independent variable, a product variable. Finally, we have found that in all the three estimated models, the variation in environmental expenditure produces changes in NCDs’ effect on health expenditure.
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Ganguli, Subhadra. "An economic analysis of sustainability of a potential GCC economic and monetary union during 2005-2014." World Journal of Entrepreneurship, Management and Sustainable Development 12, no. 3 (July 11, 2016): 194–206. http://dx.doi.org/10.1108/wjemsd-01-2016-0005.
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Purpose – Gulf Cooperation Council (GCC) was set up in 1981 between Bahrain, Oman, Qatar, Saudi Arabia, United Arab Emirates and Kuwait for strengthening cooperation and economic development in the region. The GCC has made strides towards economic consolidation by forming a customs union and a common market. The long-term vision is to create an Economic and Monetary Union (EMU) with a single currency. Progress towards the EMU has been slow and the recent oil price plunge has led to concerns regarding sustainable growth of member countries due to their significant dependence on oil and lack of diversification. The purpose of this paper is to analyse the scope of an EMU in the GCC against the backdrop of current oil crisis and examine sustainability of such a union. The paper studies convergence criteria similar to the ones followed by the accession countries of the European EMU in the 1990s preceding the introduction of the single currency Euro. Design/methodology/approach – The paper draws its practical approach from the experience of the European Monetary Union, though the original idea of the single currency in Optimum Currency Areas was conceived by Mundell (1961). The present paper analyses macroeconomic time-series variables (e.g. GDP, budget deficits, debt, growth rates, inflation rates, exchange rates) for GCC during the period 2005-2014. Data has been sourced from United Nations Conference on Trade and Development (UNCTAD), The World Bank and International Monetary Fund (IMF) databases to study the convergence criteria adopted by the EMU countries for the introduction of the Euro. Findings – The paper concludes that GCC economies are similar in terms of their structural and economic fundamentals. Most elements of the convergence criteria that were followed by the accession countries in Europe are fulfilled by the GCC member states, particularly during 2011-2014. The GCC states look similar in terms of sustainable growth, price stability and exchange rate stability – three aspects of convergence met by the European Union states. However, heavy dependence on oil and lack of diversification from oil and hydrocarbon-related products in the gross domestic product (GDP) composition of GCC states pose severe risks to the potential union. Fiscal vulnerabilities of these economies to oil price shocks, such as the current oil price crisis, create concerns for such a union during oil price lows. Widely divergent fiscal deficit-to-GDP ratios and rising debt-to-GDP ratios during periods of low oil prices imply the lack of sound and unsustainable public finances for some of the GCC states. The divergence has stemmed from widely different break-even oil prices for government budgets within the GCC and also due to varying degrees of oil dependencies between the member states. The scope of a successful and more sustainable EMU can be further explored once the GCC economics have achieved adequate diversity from oil. Originality/value – The study is useful to policy makers, central banks, businesses and researchers since it highlights the EMU as a feasible option for the GCC states. The sustainability of the EMU is contingent on diversification of these economies in the future from oil and oil-related products. The study can be utilized by policy makers as a strategy to further restructure GCC economies towards greater resilience and integration prior to accession to the GCC EMU.
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Bilas, Vlatka, and Sanja Franc. "The contribution of foreign direct investment to economic growth in the selected emerging European countries: The evidence based upon the panel cointegration model." Ekonomski horizonti 24, no. 3 (2022): 229–42. http://dx.doi.org/10.5937/ekonhor2203229b.
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This paper is aimed at examining the fact whether foreign direct investment (FDI) and exports do contribute to economic growth in the thirteen European Union (EU) new member states (namely Bulgaria, Croatia, Cyprus, Czech, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia, Slovenia) during the period from 2005 to 2020 or not. Various statistical tests were performed in order to examine the relationship and causality among the three observed series, including unit-root tests, the Kao and Pedroni cointegration tests, and finally the modified causality test. The obtained results are mixed. Although cointegration was established between FDI, exports and growth, the estimation of the long-term coefficients varied to such an extent that only ambiguous conclusions about the effect of FDI and exports on the growth of the real gross domestic product (GDP) could be reached. The research results imply the fact that positive effects of FDI and exports are neither automatic nor equal in all the countries, but the same rather depend on the many factors and conditions that the governments of the selected states should consider when designing policy measures for attracting FDI and promoting exports.
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Abuselidze, George, and Inga Gogitidze. "Tax policy for business entities under the conditions of association with the European Union: features and optimization directions." E3S Web of Conferences 166 (2020): 13013. http://dx.doi.org/10.1051/e3sconf/202016613013.
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Under the conditions of EU association, one of the important for Georgia is to create such tax policy that shall be agreeable and settled with the economic systems of developed countries. The efficiency of the tax system depends on the optimal tax policy, according to which highly available and modern standard-oriented business environment is created. In 2017, the Parliament of Georgia passed the reform of profit tax that is aimed to free the business entities from profit tax during the reinvestment process. All the above mentioned maintains the topicality of ongoing reforms in Georgia. The goal of the research is to identify the impact of the new tax system on the Gross Domestic Product, the stream of investments, stimulation of business, and the period, after which the results of the reform will be favourable for the economic. There are various researches and scientific publications on the given issue. According to the study, the reform will produce a long-term macroeconomic effect that will mainly aim to favour small and middle scale businesses. Liberal tax approaches are advancing Georgia’s investment attractiveness, reflecting an increase of investments. This work is based on Estonian experience presented in statistics and international studies. The information processed by experts and researchers helps us to evaluate the impact of this reform on Georgia.
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Petraškevičius, Vladislavas, Romualdas Ginevičius, Klaudia Bracio, Gabriela Menet, and Regimantas Visokavičius. "Impact of the COVID-19 pandemic on the economic development of EU countries." Problems and Perspectives in Management 20, no. 3 (August 23, 2022): 204–14. http://dx.doi.org/10.21511/ppm.20(3).2022.17.
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One of the essential consequences of the COVID-19 pandemic is a slowdown in economic development, which is reflected in an integrated way by the Gross Domestic Product per inhabitant of the country. However, its dimensions are not the same for individual countries of the European Union, so it is crucial to determine what circumstances led to this phenomenon. Therefore, the purpose of this study is to determine individual EU countries’ losses caused by the COVID-19 pandemic and the circumstances they depended on. Correlation-regression analysis was used, which made it possible to calculate what effect the countries’ economic development level and the intensity of its positive changes on the eve of the COVID-19 pandemic had on the losses incurred. In 2018, it was found that this relationship is very strong (the value of the correlation coefficient r equals 0.8 and 0.7, respectively). The study’s results highlighted the regularity – economic development slowed down the least in those countries where it was in the best condition, and the positive development changes were the most intense. It was found that in the ten most developed EU countries, economic growth slowed down because of the COVID-19 pandemic by approximately 2.3%, and in the rest of the countries – 5.1%. According to the slow-down of economic development, insensitiveness was approximately 3.45 and 5.46%.
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Hlawiczka, Roman, and Boris Kollar. "Globalization and its impact on Slovak economy during corona crisis." SHS Web of Conferences 92 (2021): 01014. http://dx.doi.org/10.1051/shsconf/20219201014.
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Research background: The presented article analysis major impacts of corona crisis on global and subsequently Slovak economy. It divides major impacts into several basic categories. These categories are presented in the methods part of the article. First of all, we analyze and discuss economic impacts, subsequently shocks in supply and demand and at last impacts of policies. These categories contain wide literature research in order to offer complex overview of the topic. The results and discussion part offers comparison of three important economic indicators. Namely gross domestic product, inflation rate and unemployment rate in periods before, during and shortly after the corona crisis. Some of the selected countries play major role in global economy – China, United States and European union. Other selected economies have the most direct impact on Slovak economy like Germany, Czech Republic, Hungary, Poland and Austria. For complex overview, we also included results of Euro area and Italy as a country with the worst course of pandemic. Purpose of the article: Major purpose of presented article is description of major impacts of corona crisis on Global and Slovak economy. The need to shut down individual parts of economies and in some cases total lock down results in important damages. The article underlines these damages. Methods: Among the methods used in this article, the most important one have descriptively analytical character. We also used other methods of formal logic like analysis, graphic method, comparison and synthesis. Findings & Value added: Overview of the major corona crisis impacts on Slovak and global economy during corona crisis.
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Rahman, Redwanur, Saleh Shahriar, and Sokvibol Kea. "Determinants of Exports: A Gravity Model Analysis of the Bangladeshi Textile and Clothing Industries." FIIB Business Review 8, no. 3 (September 2019): 229–44. http://dx.doi.org/10.1177/2319714519872643.
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The purpose of this study is to find out the determinants and issues influencing Bangladeshi textile and clothing (T&C) exports. A unique data set has been generated and used to estimate the panel gravity model of Bangladeshi T&C export flows to a total of its 40 trade partners over a period of 27 years, spanning from 1990 to 2017. The results show that the gross domestic product (GDP), real exchange rate and per capita GDP of the importers have appeared to be major determinants of Bangladesh’s textile exports trade. Also, Bangladesh and World Trade Organization membership have a strong positive significant impact on T&C exports. The geographical distance has no strong significant effect on textile trading. It is found that European Union and North American Free Trade Agreement countries are the two important export destinations for the garments of Bangladesh. This study is a novel and significant contribution for a couple of reasons: First, Bangladesh’s major trading partners are covered in this study sample. Second, the article’s focus on the gravity panel data analysis fills up a major research gap on the determinants of exports of the Bangladeshi garments. This study will thus pave the new avenues for further research in future.
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Berndt, Marvin, Kirsten Boysen-Urban, Simon Ehjeij, Amelia Espey, Arndt Feuerbacher, Dorothee Flaig, Tobias Heimann, et al. "Implications of Russia’s War in Ukraine for the Global Agri-Food Sector – An Ex-Ante Assessment using Different Simulation Models." German Journal of Agricultural Economics 71, no. 3 (August 30, 2022): 134–49. http://dx.doi.org/10.30430/gjae.2022.0310.
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In light of Russia’s war in Ukraine, three widely used trade and sector models were applied to assess: i) global food and nutrition security, ii) the effects on the bioeconomy, and iii) the implications for the European Common Agricultural Policy (CAP). Simulation results show that an export stop of agri-food commodities in Ukraine and Russia results in a substantial increase in global agri-food prices under short-term assumptions. However, the longer-term effects are much smaller due to global supply responses. The effects on food security depend on the importance of cereals in countries’ diets. Furthermore, due to subsequent Gross Domestic Product declines, there may be further negative long-term implications for food security, especially in Africa. An additional scenario with a 10% increase in the global oil price shows that European Union (EU) biofuel production is heavily affected. The implementation of the initially envisaged CAP requirement of a set-aside of 4% of the farmed area would have little effect on EU cereal production, whereas a 10% reduction in fertiliser availability in the EU would lead to a decline in net production of cereals. A joint reduction in pig herd size and pork consumption could partly mitigate the negative consequences of reduced fertiliser availability, otherwise leakage would occur either through the import of pork into the EU for consumption or the production of EU pork meat for export markets. To mitigate the market effects of the war, EU policymakers should: i) encourage efficient (animal) nutrient use to offset fertiliser shortages and land use choices that increase market availability of food crops, ii) encourage restructuring of animal production in line with consumption developments to prevent leakage effects and ensure that non-food products are used efficiently as feed products, and iii) support vulnerable households to secure short-term food access.
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Olbrycht, Paweł. "Immigrants in the Grand Duchy of Luxembourg and Its Public Security." Historia i Polityka, no. 36 (43) (June 1, 2021): 115–37. http://dx.doi.org/10.12775/hip.2021.017.
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The Grand Duchy of Luxembourg is one of the smallest European countries – both in terms of area and population. As in the case of the so-called European micro-states (with less than 500,000 inhabitants – Luxembourg alone has slightly more), it is characterized by a high economic level, especially the living standards of its inhabitants.
As the Organisation for Economic Co-operation and Development’s statistical data show (official OECD website), the Grand Duchy of Luxembourg is the wealthiest Member State of the European Union in terms of average annual income per capita (gross domestic product per capita). Due to this fact, foreigners-immigrants continuously come to this country by seeking better living conditions there. It was, therefore, reasonable to explore how this high proportion of immigrants in Luxembourg’s society influences the public security of that country. Luxembourg has one of the highest economic immigration rates in Europe, the number of its citizens is continually growing, and yet the crime rates are among the lowest in the world.
The article aims to explore the impact of the presence of many immigrants in the Grand Duchy of Luxembourg on public security of that country. The article focuses on the main threat to public safety, i.e., crime – in the analysed case: the crime committed by foreigners-immigrants.
The main research problem took the form of the question: To what extent does the presence of a significant number of immigrants affect the public safety of the Grand Duchy of Luxembourg? The main hypothesis took the form of the assumption that the presence of large numbers of immigrants does not have a significant adverse effect on the public safety of the Grand Duchy of Luxembourg.
The adopted research method was the analysis of statistical data using the technique of content analysis (desk research). World Bank statistics were used as the primary source of information, while articles from scientific journals and reports from Luxembourg public administration bodies as supplementary sources.
To deepen the exploration and understanding of the migration conditions of the Grand Duchy of Luxembourg, the article presents its history as well as economic and social characteristics.
The research was carried out as part of the Research Project No. 146/WNB/65/DzS called: “The Migration Policy of the Republic of Poland as an Indicator of Its Internal Security”, carried out at Faculty of Security Studies of General Tadeusz Kościuszko Military University of Land Forces (Wrocław, Poland).
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Altay, Asc Prof Dr İclal Kaya, and Shqiprim Ahmeti. "Evaluation of EU Cohesion Policies within the scope of Lisbon and Europe 2020 Strategies." European Journal of Social Sciences Education and Research 10, no. 2 (May 19, 2017): 79. http://dx.doi.org/10.26417/ejser.v10i2.p79-93.
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In order to increase the level of integration and development at the scale of the Union and to raise the conditions of competition on a global scale, EU has announced two basic development strategies within the process: Lisbon Strategy (2000) and the Europe 2020 Strategy (2010). Though the EU 2000-2006 Cohesion Policies corresponding to the 2000-2006 fiscal period and 2007-2013 Cohesion Policy Program that was reformed in comparison to the previous program were prepared within the scope of the Lisbon Strategy, 2014-2020 financial program and Cohesion Policies have been produced within the context of EUROPE 2020 Strategy. During the said process, the objectives and priorities as well as the budgets of the EU structural funds have changed. In March 2000, the European Council meeting in Lisbon set the strategic goal of transforming the EU into ‘the most competitive and dynamic knowledge-based economy in the world’ within a decade. Among the jointly agreed goals to be attained by 2010 were raising investment in research and development to three per cent of gross domestic product (GDP) and increasing the rate of employment within the EU from 61 to 70 per cent of the working-age population (Teasdale, 2012). Based on the interim evaluations of Lisbon Strategy, EU Commission stated that the required specific objectives could not be achieved because the financial crisis and planned reforms could not be implemented. At the same time, the major expansion in 2004 made the existing inter-regional disparities more evident. Published on 2010 by EC, Europe 2020 Strategy (which is considered to be a reviewed and updated Lisbon Strategy) brought in a new expansion in terms of achieving the initial objectives. The strategy in question focuses not only on the economic – social cohesion but also on spatial cohesion. However, the statistics within the process reveal that the economic, social and territorial cohesion could not be achieved at the scale of EU yet, even it has been asserted in a report, which was prepared by the Secretariat of the Conference of Peripheral Maritime Regions (CPMR) in 2015 that besides the disparities between the Member States, disparities between regions within countries increased, as well. Within the scope of this study, it will be discussed how much the cohesion target, given in the founding treaty of EU is reflected on the development strategies; the role and accomplishments of these strategies and funds in achieving that target. While the role and accomplishments of the Europe 2020 Strategy, which is still in effect today, are questioned in terms of ensuring particularly the territorial cohesion, also the importance and the priority granted to urban spaces in order to achieve the objectives of strategies - as well as objectives of the founding agreement – will be discussed. The Method of the Study can be summarized as the literature survey based on the Lisbon and Europe 2020 Strategies of European Commission, the EU Financial Period Programs and observations and critics prepared by a variety of institutions as well as the evaluation of the findings based on statistical datas.
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Lapackienė, Simona, Lukas Laucys, and Aidas Saladžius. "ANALYSIS OF CHANGES IN KEY MACROECONOMIC INDICATORS OF THE EUROPEAN UNION COUNTRIES DURING THE DIFFERENT PERIODS OF ECONOMIC CYCLES." INDIVIDUAL. SOCIETY. STATE. Proceedings of the International Student and Teacher Scientific and Practical Conference, January 3, 2023, 43–51. http://dx.doi.org/10.17770/iss2022.7020.
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The article delves into the changes in the main macroeconomic indicators of the European Union (EU) countries in the different periods of economic cycles. The research problem is formulated by raising a problematic question: what are the changes in the main macroeconomic indicators of the European Union countries (Lithuania, France, Sweden and Greece) in the different periods of the economic cycles? The aim is to analyse the main changes in the macroeconomic indicators of the European Union countries in the different periods of economic cycles. Research methods: analysis of scientific literature, analysis of statistical data, grouping of variables, graphical representation. After analysing the changes in gross domestic product in Lithuania, France, Sweden and Greece, it can be stated that the largest positive change in gross domestic product (GDP) is observed in Lithuania, when it almost doubled at the end of the analysed period. The analysis of the statistical data revealed that the highest unemployment rate was recorded in 2010, during the global financial crisis and declining trend until 2020. It can be observed that changes in the unemployment rate during the period under review were affected not only by the global financial crisis in 2008, but also by the effects of the global health crisis in 2020. The analysis data on the dynamics of the inflation rate revealed that the highest inflation was observed in Lithuania. The data showed that in Lithuania in 2015 deflation was observed, possibly due to the introduction of the euro in the country. Meanwhile, higher deflation was observed only in Greece in 2013-2015 and 2020
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Gars, Johan, Daniel Spiro, and Henrik Wachtmeister. "The effect of European fuel-tax cuts on the oil income of Russia." Nature Energy, September 15, 2022. http://dx.doi.org/10.1038/s41560-022-01122-6.
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AbstractFollowing Russia’s invasion of Ukraine, there has been a surge in transport fuel prices. Consequently, many European Union (EU) countries are cutting taxes on petrol and diesel to shield consumers. Using standard theory and empirical estimates, here we assess how such tax cuts influence the oil income in Russia. We find that an EU-wide tax cut of €0.20 l−1 increases Russia’s oil profits by around €8 million per day in the short and long term. This is equivalent to €3,100 million per year, 0.2% of Russia’s gross domestic product or 5% of its military spending. We show that a cash transfer to EU citizens—with a fiscal burden equivalent to the tax cut—reduces these side effects to a fraction.
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MERE, Murat, and Serkan GÖKSU. "CAN SHANGHAI COOPERATION ORGANIZATION BE AN ALTERNATIVE TO THE EUROPEAN UNION FOR TURKEY? ANALYSIS WITH PANEL GRAVITY MODEL APPROACH." Ekonomi Maliye İşletme Dergisi, June 24, 2022. http://dx.doi.org/10.46737/emid.1107096.
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In recent years, the comparison of the European Union and Shanghai Cooperation Organization in Turkey has come to the fore. It has been discussed whether the organizations can be alternatives to each other, especially for Turkey. In this study, using the panel gravity model approach, Turkey's foreign trade volume with both organizations has been tested to determine whether they can be alternatives to each other. The analysis made covers the 2003-2019 periods. The dependent variable is the foreign trade volume consisting of the sum of Turkey's exports and imports with both organizations. The independent variables are the gross domestic product values representing the economic size of the countries and the "distance variable" representing the distances of the countries from each other. Additionally, a dummy variable is added to the model to represent the economic crisis in Turkey in 2008. According to the analysis results, the economic size of the countries affects foreign trade positively. In contrast, distance and financial crisis dummy variables affect foreign trade negatively. In addition, it has been determined that the increase in the incomes of the European Union countries has a more significant effect on Turkey's total foreign trade volume. As a result, Shanghai Cooperation Organization cannot be an alternative to the European Union for Turkey.
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Borowski, Jakub, and Krystian Jaworski. "Economic and behavioral determinants of forced household savings during the COVID-19 pandemic." Empirica, January 9, 2023. http://dx.doi.org/10.1007/s10663-022-09563-8.
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AbstractThis study seeks to identify the determinants of forced household savings in 16 European Union (EU) member states in 2020. We show that the higher the severity of the COVID-19 pandemic in the state, measured by the intensity of government restrictions or the number of COVID-19-related deaths, the higher the level of forced savings. Such savings also increased with gross domestic product per capita and the financial support provided for households and enterprises by the government. Additionally, savings cultures and personality traits that support compliance with pandemic-related restrictions and enhance coping with the hardship of the pandemic had a positive impact on forced savings. Our results show that while common pandemic shock may lead to discrepancies in forced savings in affected countries, their level depends largely on government response in the form of imposed restrictions as well as financial support for households and enterprises. Therefore, strong fiscal support during the pandemic can be likened to sowing the seeds for post-pandemic recovery, as savings accumulated during the pandemic shock may be used to finance the pent-up demand. This, in turn, suggests that fiscal responses during the pandemic may act as a significant driver of post-pandemic business cycle (de)synchronization and inflation differentials among EU member states and, more importantly, euro-area countries.
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Zhu, Zhu, Hang Zheng, and Zhu Zhu. "Analysis on the economic effect of Sino-US trade friction from the perspective of added value." Environment, Development and Sustainability, June 2, 2021. http://dx.doi.org/10.1007/s10668-021-01390-4.
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AbstractBased on the theory of trade added value, this paper discusses the potential actual trade scale and benefit damage degree of the two countries under the background of big country game by measuring the real trade scale of China and the USA, simulating the economic impact of tariffs imposed by China and the USA and utilizing Wang–Wei–Zhu (WWZ) method to decompose the potential changes in Sino-US trade. The results show that: firstly, the size of China-US trade in terms of total value is significantly overestimated and China's overall trade with the USA in 2001–2014 was overestimated by an average of 3.06 percent, of which goods trade was overestimated by 8.06 percent. Secondly, although tariff increases can reduce the degree of trade imbalance between China and the USA to some extent, the adverse effects are mutual and global, and the European Union, the Association of Southeast Asian Nations (ASEAN), Japan and Canada become the main transfer countries of Sino-US trade. Thirdly, the pattern of China's final exports and the US' intermediate exports determines that China's trade interests are more damaged than those of the USA. It is proved that there is a big gap between China and the USA in the depth and breadth of China's participation in the value chain division of labor and the trade scale measured by Gross Domestic Product is more instructive than the total value.
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Genowska, Agnieszka, Birute Strukcinskiene, Anita Villerusa, and Jerzy Konstantynowicz. "Converging or diverging trajectories of mortality under one year of age in the Baltic States: a comparison with the European Union." Archives of Public Health 79, no. 1 (May 13, 2021). http://dx.doi.org/10.1186/s13690-021-00598-0.
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Abstract Background Information about trends in perinatal and child health inequalities is scarce, especially in the Eastern Europe. We analyzed how mortality under 1 year of age has been changing in the Baltic States and the European Union (EU) over 25 years, and what associations occurred between changes in macroeconomic factors and mortality. Methods Data on fetal, neonatal, infant mortality, and macroeconomic factors were extracted from WHO database. Joinpoint regression analysis was performed to analyze time trajectories of mortality over 1990–2014. We also investigated how the changes in health expenditures and Gross Domestic Product (GDP) contributed to the changes in mortality. Results The reduction of fetal, neonatal and infant mortality in the Baltic countries led to convergence with the EU. In Estonia this process was the fastest, and then the rates tended to diverge. The strongest effect in reduction of neonatal mortality was related to the annual increase in health expenditure and GDP which had occurred in the same year, and a decrease in fetal mortality associated with an increase in health expenditure and GDP in the 4th and 5th year, respectively, following the initial change. Conclusions These findings outlined convergences and divergences in mortality under 1 year of age in the Baltic States compared with the patterns of the EU. Our data highlighted a need to define health policy directions aimed at the implementation of effective intervention modalities addressing reduction of risks in prenatal and early life.
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Mansyur, Muchtaruddin. "Occupational Health, Productivity and Evidence-Based Workplace Health Intervention." Acta Medica Philippina 55, no. 6 (September 22, 2021). http://dx.doi.org/10.47895/amp.v55i6.4273.
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Individual performance, as one of the productivity components, is determined mainly by appropriate knowledge and skills, high work motivation, and good health status. At the enterprise level, productivity levels depend on many factors, including market forces, company policies, seasons, or societal situations such as the pandemic we are currently facing. Health is only one factor, interacting with other factors and influencing performance and ultimately, productivity. A person in a healthy state who has physical and emotional abilities, accompanied by a desire to work, will show high performance. Individual performance measures are generally based on time measures, namely absenteeism, which is not coming to work due to health problems, and presentism, namely unproductive time at work due to health problems. High worker performance will lead to higher productivity because it can produce better goods and services, more creativity and innovation, high intellectual capacity, and reliable resilience. High productivity can lead to higher profits. Many health conditions and health risks affect the decline in performance. The Healthy Workplace framework showed a high association between health conditions and health risks with absenteeism and presentism.1 Health risks associated with absenteeism include lack of physical activity, high stress, and diabetes. Diabetes is the highest risk factor for absenteeism, which increases the chance of absenteeism by 2.3 times (OR=2.29, 95% CI 1.17, 4.47). Stress most increased presentism odds (OR=2.09; 95% CI 1.65, 2.63), followed by unmet emotional needs (OR=1.93, 95% CI 1.52, 2.44). Other health risks were associated with presentism, including poor nutrition, body mass index and low physical activity.2 Chronic diseases such as hepatic disorders are a risk factor for young mining workers.3
WHO's Global Health Estimates provide the data that seven of the top ten causes of death globally are non-communicable diseases. Ischaemic heart disease, stroke, and chronic obstructive pulmonary disease are the leading causes of death in high-income and lower-middle-income countries.4 The other study found that smoking, occupational risk, and air pollutants were high rank of COPD risk factors. These diseases generally occur in the working-age group, indicated by the prevalence of smoking, which is 31%, the prevalence of hypertension at the age of >18 years, which is 31.3% in men and 36.9% in women.5
The main nutritional problems in the working-age group based on the Indonesian Basic Health Survey 2018 were obesity (prevalence 21.8% at age >18 years), anemia (48.9% in pregnant women), and chronic energy deficiency (32%). The other health problems in this working age group were mental-emotional disorders (9.8%) with an increase compared to 6% in the Basic Health Survey 2013.5 The prevalence of anemia and chronic energy deficiency is still high in women of childbearing age who are also included in the productive age group.6,7 With a high participation rate of female workers and a high prevalence of chronic energy deficiency and anemia, nutritional problems are immense.
In low-income countries, Infectious diseases, especially tuberculosis (TB) and HIV/AIDS, are also a health problem in the working-age population.4 Tuberculosis has a considerable impact on families. Studies in Indonesia show that although treatment is guaranteed through the National Health Insurance, households affected by TB still face the risk of poverty. Impoverishment occurs due to additional expenses outside of treatment for treatment, including reduced income due to not coming to work.8
The effect of health problem on worker productivity is getting bigger, along with the increasing risk of work accidents. The cost of per work accidents case in Europe is high; highest for The Netherlands (€ 73,410) and the lowest for Poland (€ 37,860). The total costs ranged from 2.9% of gross domestic product (GDP) for Finland to 10.2% for Poland. The cost calculation considered three categories: direct healthcare, indirect productivity, and intangible health-related quality of life costs.9 The most significant work accidents came from the construction and manufacturing sectors (32%), followed by the transportation sector (9%), forestry (4%), and mining (2%). Unfortunately, there is no exact data on the magnitude of occupational diseases. Indirect costs related to lost workdays, costs for absenteeism payments, and worker presentism were considerable. In addition, the burden of personal expenses incurred by workers for transportation costs and other costs to obtain health services decreases productivity. Medical, social and economic consequences of non-communicable diseases, occupational accidents and diseases, and nutritional problems lead to public health problems in the working population.
The workplace-based intervention to overcome the workers' health problem by integrating occupational health services is a method of choice.10 Since 2007, the World Health Organization (WHO) has launched Workers' Health: A Global Plan of Action. The action plan responds to the importance of workers' health as a prerequisite for productivity and economic development through increasing access to health services for workers and building a healthy workplace.11 Furthermore, WHO introduced the Healthy Workplace Framework as practical guidance. A healthy workplace is a place where workers and managers work together continuously to make improvements to protect and promote the health, safety, and welfare of workers and workplace sustainability. There are four interrelated factors: a) health and safety in the physical environment, b) health, safety, and wellbeing in the psychosocial environment, including workplace organization and work culture, c) health resources in the workplace; and d) workplace community participation to improve the health of workers, their families, and the surroundings.1 The implementation of the healthy workplace program needs supporting evidence on workplace-based intervention through relevant research. This is what this special issue on Occupational Health of the Acta Medica Philippina is facilitating.
Prof. Muchtaruddin Mansyur, MD, PhDDepartment of Community Medicine Faculty of Medicine Universitas Indonesia
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