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The purpose of this article is to analyse the state and the dynamics of developmental and other aspects of investments in research and development (R&D) in the group of countries in Southeast Europe. The analysis is performed for several countries in Southeast Europe together and by individual countries. The period from 1996 to 2020 is observed in the analysis. In most countries of Southeast Europe, the allocation for R&D is relatively small. Applied research is the most represented. Significant differences can be noticed regarding the sources of financing and to the implementation of allocations for R&D. A particularly important part of this work is devoted to the analysis of the impact of the gross expenditures on R&D on economic growth. This analysis was performed on the basis of regression analysis. Several regression models were formed in which the dependent variable was gross domestic product per capita It can be concluded that the parameters of the financial condition of the observed economy have the greatest influence on the economic growth of the observed group of countries. Allocations for research and development still do not have a significant enough impact on economic growth in observed countries in Southeast Europe. [ABSTRACT FROM AUTHOR]

This paper empirically analyses the impact of fiscal policy on the economic growth of the countries of Southeast Europe. The work was carried out with secondary data from the 12-year period and respectively from 2010 to 2021 and includes 11 countries, so the data belongs to the panel type. The purpose of this paper is to analyze social variables such as government spending, income from taxes, public debt, government effectiveness, fiscal freedom, rule of law index, and corruption in economic growth. For this purpose, we employ different econometric models and techniques such as OLS, OLS Robust fixed and random effects models, and GMM (Generalized Method of Moments). The findings from the research show that fiscal policy instruments have a positive impact on the economic growth of the countries of Southeast Europe, while the effectiveness of the government, the rule of law, and corruption show a statistically significant impact on the economic growth of these countries. The recommendations for the countries are for policymakers in the region to prioritize the development and implementation of sound fiscal policies to stimulate economic growth. By strategically managing government spending and taxation, these countries can enhance aggregate demand, encourage investment, and create a favourable business climate. Furthermore, adopting expansionary measures during economic downturns and adopting prudent debt management practices can contribute to stability, confidence, and sustainable growth. [ABSTRACT FROM AUTHOR]

We employ the conceptual framework of "N-tuple helices" and devise a composite indicator, namely SFIGA (Society-Finance-Industry-Government-Academia), that aims at measuring the innovation performance of 24 OECD European countries from 2008 to 2017. We also investigate the effects of actors-helices on GDP per capita. The preliminary results from panel data regressions (OLS, quantile, and GMM) indicate their decisive economic importance as key actors of national innovation systems. However, the negative impact of academia on economic growth may explain a highly required resource allocation for basic research in the "knowledge economy" era. Its potential positive economic effects probably require time and patience. [ABSTRACT FROM AUTHOR]

Currently, energy consumption has increased exponentially. Using fossil fuels to produce energy generates high shares of carbon dioxide emissions and greenhouse gases. Moreover, financial authorities at the global and European levels have recognized that climate change poses new risks for individual financial institutions and financial stability. The analysis contributes to the literature in two critical ways. First, the research attempts to develop a map of the transition risk of the EU. In detail, it defines an indicator that will identify the transition risk the EU bears. Second, it analyzes any relationships between the CO2 emissions, economic growth, and the renewable energy of each European country from 1995 to 2020, highlighting the short and long-run relationships. The methodology used is the ARDL. The results show the long-run relationship between GDP, renewable energy consumption, and CO2 emissions is evident. Indeed, economic growth may increase environmental pollution in Europe, while an increase in using renewable energy may reduce CO2 emissions. Therefore, this implies the trade-off between economic development and CO2 emissions. Furthermore, the results indicate the difference in the short-run relationship across countries. However, the results demonstrate that the choice of the European Union to increase the use of renewable energies is more than fair. [ABSTRACT FROM AUTHOR]

Europe has changed, the world has changed. The 21st century brings new challenges and new opportunities. The interaction of economies and peoples worldwide, whether by communication, trade, migration, shared security, concerns or cultural exchange, is in constant evolution. In such a globalised world, Europe needs to be competitive to secure economic growth and more and better jobs, in order to achieve an overall sustainable development. Climate change calls for a response that must be both global and local. Demographic change has shifted some of the old certainties about the patterns of how society works. New security threats call for new strategies and policies. In all these areas, Europe needs to be equipped for change. [ABSTRACT FROM AUTHOR]

In Europe, there has been a significant shift in the movement of people and things. Nonetheless, despite the fact that transportation is an important component of the supply chain, its environmental consequences pose a severe threat to the ecosystem as a whole. As a result, we intend to explore the relationship between transportation, economy, and CO2 emissions. We used the Static method with Pooled OLS, then tested the Granger causality to validate the use of dynamic approach via the GMM system. The major findings revealed that GDP and trade openness had a considerable impact on CO2 emissions. Although the three modes of transportation have different effects on CO2 emissions, road density has a positive and considerable impact on CO2 emissions. The railway network is inversely connected to CO2 emissions. While the quantity of flight passengers has no substantial effect on emissions. In terms of the impulse response function, there is an initial shock in period 2 for the response of air passengers carried to CO2 emissions, followed by convergence back to zero in period 6, whereas road density has a slight decrease in period 2 with a post shock peak in period 4, followed by convergence back to zero in period 5. The variance decomposition results reveal a little increase until the fifth period for road density, air passengers, and trade openness with coefficients equal to 0.0893, 0.636, and 1.573, respectively, after which these three variables offer decreasing coefficients. [ABSTRACT FROM AUTHOR]

The contemporary environment is interrelated, and interactions between markets, countries, and international actors at different levels exist in every corner of the globe. Amid this, the failures of the free-market system have paved the way for institutionalism, which proposes minimising transaction costs, substantial property rights, and enabling proper contract enforcement. Studies on institutions and insurance development spillover concerning growth relationships are rare and a critical area needing exploration. This study explores the behaviour of economic development in terms of potential spatial dependencies and spatial institutional and insurance development spillover on economic growth. To measure insurance development by the life insurance and non-life insurance penetration, economic growth by per capita gross domestic product (GDP), and indicators of good governance for institutions in the nations. The study explored the spatial impact between countries using panel data of 56 countries between 2002 and 2020 representing the Asian and European regions. We did this by using dynamic spatial econometric modelling (DSEM) on institutional and insurance development and seeing the spatial implications and the spatial institutional impact moderated by insurance development on growth. Results indicate that developing the life insurance and non-life insurance of surrounding countries creates a spillover impact on the local countries' economies. In contrast, institutions have created a reverse spatial spillover impact on local countries. However, life insurance development, moderated through accountability and government effectiveness, has created a spatial spillover between countries. Both life and non-life penetration moderated by the control of corruption and overall institutions have shown a reverse spillover on countries' economies. This suggests that global governance is a positive-sum game, and monitoring and governance structures have failed at the international level concerning separate countries. Therefore, it is seen that to prevent institutional failure at the state level, good governance and links with the global governance structure could disrupt or energise local institutions. [ABSTRACT FROM AUTHOR]

Since the 2015 Paris Agreements that pledged a global reduction of CO2 emissions, almost all European countries have started to define and implement diverse climate change regulation measures to tackle the tragedy of the commons. In this context, the need to investigate the relationship between CO2 emission and economic growth in terms of GDP has increased for a deeper understanding of macroeconomic developments while applying carbon reduction policies to be reached. The link between growth and CO2 is not obvious and it continues to be widely discussed. The current paper aims to identify the specificities of the relationship between CO2 emissions and GDP growth by applying panel VAR specifications in Europe (for a time span of 1995-2022). We have chosen to introduce two kinds of frequencies. The main result resulted from estimations is the existence of two different thresholds. Unsurprisingly, there is a positive long-term CO2 emission in case of GDP shocks for both regimes. However, regarding the CO2 emissions shocks, regime 1 depicts a continuous decrease in GDP growth whereas in regime 2 there is a continuous rise in GDP. This output reinforces the idea of a non-linear relationship between the CO2 emissions and the GDP. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to analyze how tourism can impact today's world, particularly as we live a decisive moment for the planet, deeply affected by war in Europe and all the implications resulting from this anomalous situation. Design/methodology/approach: In this paper, the author presents five pillars of the differentiating impact that tourism can have in today's world, from the need to modernize an increasingly old world to the need to reduce inequalities. Findings: The author contends that the tourism industry has a significant and positive impact in the world by building secure bridges for a better future. This is because it is on the right side, opposing disharmony and bringing people closer together, and by leading economic growth, the base factor of all positive economic change. Originality/value: The article supports the view that tourism generates more equality at local and global levels and that while it may not in itself be the solution for our future, it will be much easier to look into a brighter future, whenever we include tourism in it. [ABSTRACT FROM AUTHOR]

In this paper we investigate house price misalignments and how they affect the real economy. We estimate the long-term relationship between house prices and the fundamentals that determine long-term house prices for a panel of European countries with dynamic OLS, using data from 2005–2018. We find that income has been the main driver of fundamental house prices in all countries, while the supply of dwellings has calmed the rise in house prices in some of them. We calculate house price misalignments, which are deviations of house prices from the fundamental value, and we employ them in the growth model. The results of the growth regression indicate that house price imbalances amplify business cycles in the short term, but in the long term house price overvaluations slow economic growth down. The findings imply that it is crucial to take measures to stabilize housing cycles. [ABSTRACT FROM AUTHOR]

The significance of international tourism for economic (de)stabilization and recovery has been recognized. However, it remains unclear whether and why tourism drives economic growth in all phases of the business cycle. To investigate this relationship, we conducted a causality-in-quantile study using data on tourism and GDP from 12 European countries between 1995 and 2021. Our analysis reveals that tourism's influence on growth recedes during both crises and booms. Following an economic downturn, short-term mechanisms, such as direct and multiplier effects, contribute to stabilize and stimulate growth, which then activate long-term mechanisms, such as reallocation effects, that shape the growth trend. Our findings indicate that macro-tourism policies and their timing play a role in managing business cycles. However, potential long-term challenges arise from tourism specialization, such as resource reallocation towards low-productivity sectors and externalities. Therefore, policymakers must consider both the short- and long-term impacts of tourism when devising tourism-led recovery strategies. [ABSTRACT FROM AUTHOR]

The gradual reorientation of rural policy paradigms away from competitiveness and economic growth and towards well-being and sustainability creates a need for more appropriate diagnostic tools to assess disparities and policy outcomes. One of the most cited determinants of rural well-being is access to Services of General Interest. Areas with relatively poor access to services can be described as "inner peripheries", and peripherisation literature provides helpful insights into the challenges faced and policy needs. This paper presents a methodology for modelling and mapping access to a suite of ten key services, covering all of Europe at a 2.5 km grid square level. The approach is intrinsically relative, comparing the travel time to services from each grid square with the average for surrounding regions. Maps are provided for 2017 and 2021, and changes between these dates are described. 'Inner peripheries' are found in every country, their configuration being influenced not only by geographical features, but also by service delivery practices. Further analysis explores patterns of risk, identifying areas in which service provision is in a precarious position. The results presented are rich in practical policy implications, not least the suggestion that, in terms of patterns of well-being, local roads are at least as important as trunk infrastructure. [ABSTRACT FROM AUTHOR]

Bioeconomy policies claim to contribute to socio-ecological transformations and decreasing rural-urban inequalities. Based on examples offour bioeconomies in rural Europe, we argue that contrary to these claims, such policies to date have not de-escalated existing social conflicts but instead have often further contributed to polarization tendencies. To live up th those proclaimed goals, bioeconomY research and policy need to deprioritize economic growth and turn to more comprehensive considerations ofsocio-ecological contexts and the integration ofthe local population and alternative practices. [ABSTRACT FROM AUTHOR]

Metropolitan decline in southern Europe was documented in few cases, being less intensively investigated than in other regions of the continent. Likely for the first time in recent history, the aftermath of the 2007 recession was a time period associated with economic and demographic decline in Mediterranean Europe. However, the impacts and consequences of the great crisis were occasionally verified and quantified, both in strictly urban contexts and in the surrounding rural areas. By exploiting official statistics, our study delineates sequential stages of demographic growth and decline in a large metropolitan region (Athens, Greece) as a response to economic expansion and stagnation. Having important implications for the extent and spatial direction of metropolitan cycles, the Athens' case—taken as an example of urban cycles in Mediterranean Europe—indicates a possibly new dimension of urban shrinkage, with spatially varying population growth and decline along a geographical gradient of income and wealth. Heterogeneous dynamics led to a leapfrog urban expansion decoupled from agglomeration and scale, the factors most likely shaping long-term metropolitan expansion in advanced economies. Demographic decline in urban contexts was associated with multidimensional socioeconomic processes resulting in spatially complex demographic outcomes that require appropriate, and possibly more specific, regulation policies. By shedding further light on recession-driven metropolitan decline in advanced economies, the present study contributes to re-thinking short-term development mechanisms and medium-term demographic scenarios in Mediterranean Europe. [ABSTRACT FROM AUTHOR]

The Environmental Kuznets Curve (EKC) hypothesis has become a centre of interest for empirical research, as it serves to identify the relationships between economic growth and environmental degradation that will lead to a sustainable development path. The aim of the paper is to investigate these relationships for each of the EU15 countries, which are responsible for the largest amount of carbon dioxide emissions in Europe. Based on the results of the analysis of ARDL bounds cointegration approach, for the 1960–2019 period, it was found that there is a great diversity between the countries in the EU15 regarding the existence and shape of EKC, from the identification of N shape, Inverted U-shape or monotonic relationships to the absence of statistically significant relationships. Thus, there are countries that have managed to implement environmental protection measures early and now ensure GDP growth while significantly reducing CO2 emissions. The similarities and differences identified among EU15 countries can serve as a guide for EU policymakers in developing recommendations adapted to specific situations in order to facilitate economic growth taking into consideration environmental protection. [ABSTRACT FROM AUTHOR]

This study analyzes the discourses surrounding the interrelation between digitalization and sustainability in Europe on Twitter between 2010 and 2021. We identify 34,802 tweets related to the interrelation between digitalization and sustainability among 634,017 tweets discussing sustainability issues with explicit mentions of Europe. Based on a qualitative analysis of tweets, we identify the main domains discussed (and not discussed). We then sketch the development of the identified domains, as well as their relationship to each other over time, based on a quantitative analysis of their (co-)occurrences. We find that smart city and mobility were two of the most dominant and interrelated domains, particularly in the middle of the decade. In parallel, the domain of climate change has gained ever more attention since 2017 and has emerged as a discursive hub. We further develop hypotheses for how external factors and events (especially EU-level programs) likely led to increases in attention to some domains. Finally, we find that the Twitter discourse across domains mirrors common blind spots regarding sustainable digitalization discourses in its uncritical stance toward economic growth and its overreliance on efficiency in comparison to sufficiency concerns. [ABSTRACT FROM AUTHOR]

Copyright of European Journal of Applied Economics is the property of Singidunum University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Despite the wealth of micro–macro data on short-term demographic dynamics, the impact of metropolitan growth and economic downturns on local fertility is still under-investigated in advanced economies. Recent studies in low-fertility contexts have assumed suburban birth rates as being systematically higher than urban and rural rates. This assumption (hereafter, known as the 'suburban fertility hypothesis') was grounded on stylized facts and spatial regularities that imply a significant role of both macro (contextual) and micro (behavioral) factors positively influencing fertility in suburban locations. To verify such a hypothesis from a macro (contextual) perspective, the present study compares the general fertility rate of urban, suburban, and rural settlements of the Athens' metropolitan region (Greece) at various observation years between 1860 and 2020. Long-term Athens' growth represented a sort of 'quasi-experiment' for Mediterranean Europe, linking sequential urban stages and distinctive waves of economic expansion and recession. Using multivariate exploratory analysis and global/local econometric models, a dominant 'rural' fertility regime was recorded for 1860 and 1884. A characteristic 'urban' fertility regime was, instead, found over a relatively long, intermediate period between 1956 and 1990. Higher fertility in suburban settlements (10 km away from downtown Athens, on average) was, finally, observed since 2000. Considering a sufficiently long-time interval, the existence of multiple fertility regimes along the distance gradient has demonstrated how fertility dynamics are intrinsically bonded with metropolitan growth, economic downturns, and social transformations in Mediterranean Europe. [ABSTRACT FROM AUTHOR]

Between the 1970s and the 1990s, cities in Southern Europe experienced a progressive delocalisation of population, settlements and activities over larger regions. Economic downturns have increasingly influenced more recent waves of metropolitan growth, shaping differentiated patterns of urban change. While some cities evolved towards accelerated population dynamics in central districts responding to re-urbanisation impulses, other agglomerations were intrinsically bounded in a sort of 'late suburbanisation', with demographic shrinkage of both inner districts and rural areas, and uneven expansion of suburban population. By providing a comprehensive interpretation of the socioeconomic mechanisms underlying recent urban expansion, this study illustrates a diachronic analysis of population dynamics over multiple spatial scales and time frames in a metropolitan region of Southern Europe (Athens, Greece) between 1999 and 2019. Natural population balance was investigated vis à vis selected territorial indicators using descriptive, inferential and multivariate statistics. Results of the analysis identify different social forces underlying suburban population growth during economic expansion (2000s) and recession (2010s), evidencing a distinctive response of local communities to economic downturns that depends mostly on the background context (affluent versus disadvantaged neighbourhoods). Given the multiplicity of territorial dimensions involved in urban growth, our findings highlight how economic downturns distinctively shape metropolitan development based on locally differentiated demographic dynamics. [ABSTRACT FROM AUTHOR]

Copyright of Comparative Economic Research is the property of Wydawnictwo Uniwersytetu Lodzkiego and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Polish Journal of Management Studies is the property of Czestochowa University of Technology, Faculty of Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Objective: The goal of this article is to analyse the impact of different measures of entrepreneurial activity, namely through attitudes and behaviour, on the economic growth of 21 European countries. The goal is to assess the impact of entrepreneurial activity, measured by perceived capabilities, perceived opportunities, entrepreneurial activity, and total early stage, on the economic growth of these countries. Research Design & Methods: This study is based on a quantitative methodology and uses a data panel covering 21 European countries and a period from 2001 to 2019 (196 observations). A statistical analysis of the dependent, independent and control variables was performed, panel data stationarity analysis was carried out, and three multiple linear regression models were estimated using the generalized method of moments (dynamic panel data). Findings: The results suggest that the entrepreneurial activity driven by the opportunity has a positive impact on the gross domestic product per capita and, as such, stimulate the economic growth of the European countries considered in this sample. However, entrepreneurial activity at an early stage and the skills and knowledge to start a new business have a negative impact on the economic growth of these countries. Implications & Recommendations: In general, this study suggests that entrepreneurship driven by opportunity (directly or indirectly by perceived capacities) is a key factor in stimulating the European countries' economic growth considered in this sample. Contribution & Value Added: This study complements the existing literature that analyses the impact of entrepreneurship on economic growth, but using a sample of countries in Europe (there are few empirical studies for this purpose on European countries), and it is innovative because three different measures of entrepreneurial activity are tested, a more generic one and two other measures of entrepreneurial behaviour and attitudes collected by the global entrepreneurship monitor (GEM) to assess their impact of entrepreneurship on countries' economic growth. [ABSTRACT FROM AUTHOR]

This paper investigates the role played by the position of European regions in research networks on their rate of innovation and economic growth. The analysis is based on a panel of EU-28 NUTS2 regions participating in EU Framework Programmes observed over the 2004–2014 period. We find that regions that are more central in the network (higher strength centrality) and those that are surrounded by highly inter-connected regions (higher clustering index) show higher rates of innovation and higher economic growth. We also find heterogeneous effects of centrality and clustering for peripheral and central regions. We conclude that a more interconnected network (an increase in centrality for peripheral regions and of clustering for urban areas) would create benefits both at the periphery and at the core of Europe. [ABSTRACT FROM AUTHOR]

In this paper, the quantitative aspect of economic growth, i.e. its dynamics, is dealt with. Although it is common to observe the growth rate (intensity) when analyzing the growth dynamics of countries while neglecting growth variability, the fact that covering fluctuations in growth rates has clear motivation and practical significance is presented. On a sample of European countries, including Serbia, growth intensity and stability are analyzed in the paper in order to construct a growth dynamics indicator and an adjusted growth rate based upon these two components. Based upon the two constructed indicators, the position of each country in the sample and in the region (Western and Eastern Europe) which they belong to is analyzed. The detailed analysis and results indicate the importance of this approach when analyzing and comparing the economic growth of individual countries in the medium term and in the long term and when assessing effects on future economic growth and wellbeing. [ABSTRACT FROM AUTHOR]

This paper presents an alternative perspective on the renewable energy-economic growth nexus from the lens of installed capacity. Twenty OECD countries in Europe are assessed using panel data methodologies with data period spanning from 1993 to 2018. Electricity generation share-weighted coal and natural gas price indexes are incorporated in explaining country differences in fossil fuel reliance. Compared to results obtained from unweighted price indexes, weighted energy price indexes seem vital in obtaining a more plausible description of the relationship between energy prices and renewable capacity growth. Our findings confirm the crucial role of economic growth for renewable energy capacity development and long-term causality is apparent. Results indicate coal price increases trigger a greater positive impact on renewable capacity than natural gas. Finally, climate policies that raise fossil fuels costs could potentially stimulate the addition of renewable capacity and expedite the transition to renewable energy through price effect. [ABSTRACT FROM AUTHOR]

Several scholars have suggested that political dividedness has harmful effects on economic performance. Interestingly, empirical tests tackling this argument are almost entirely absent. The paper aims to fill this gap by testing the above hypothesis using data from the European Social Survey, including 27 countries between 2002 and 2015. Controlling for a range of well-known explanatory variables, the results of the panel regression analysis suggest that partisan polarisation is adversely related to economic growth, while ideological polarisation is not. The finding is congruent with the hypothesis of polarisation having a notable negative effect on growth, yet future works are necessary to test both the direction and the possible channels of causality. As scholars increasingly describe contemporary politics as an era of growing polarisation, the results imply that partisan polarisation should deserve more attention from political scientists and economists as a factor that might influence economic growth. [ABSTRACT FROM AUTHOR]

The bioeconomy, emerging as a beacon of sustainable development and global competitiveness, relies on renewable biological resources. This study investigates the interplay between institutional quality and bioeconomy performance in 28 European countries. By employing a Fixed Effect Regression and different sensitivity analyses, we unveil a robust, positive, and statistically significant relationship between the institutional quality and the socio-economic indicator for bioeconomy. The six institutional quality pillars - political stability, control of corruption, government effectiveness, regulatory quality, rule of law, and voice and accountability - positively impact the bioeconomy in Europe. These findings underscore the pivotal role of institutions in shaping bioeconomy performance, emphasizing the profound impact of political stability, regulatory standards, and anti-corruption measures. As a result, our research provides valuable insights for policymakers, highlighting the significance of enhancing institutional quality as a means to advance sustainability and stimulate economic growth through bioeconomy development. [ABSTRACT FROM AUTHOR]

This paper examines the short-term and long-term dynamics between public sector debt, economic openness, and economic growth in European countries between 1990 and 2018. Using the panel vector error correction model, we find that both public debt and economic openness contribute to long-term economic growth in European countries. The empirical analysis also shows that there are strong endogenous links between public debt, economic openness and economic growth in Europe in the short run. These relationships suggest that governments in Europe should give careful attention to the co-curation of macroeconomic policies pertaining to public sector spending/taxation, economic openness, and economic growth. [ABSTRACT FROM AUTHOR]

In March 2010, the European Commission launched the Europe 2020 strategy 'for smart, sustainable and inclusive growth' in the EU. Education is a major pillar of the Europe 2020 strategy due to its long-run impact on economic growth, productivity, and social cohesion. The Europe 2020 strategy established two headline targets on early leavers from education and training and tertiary educational attainment at the EU level. This paper attempts to assess the Europe 2020 strategy for the education pillar in terms of convergence across countries. Despite the fact that every country in the EU has its own national targets in these two headline indicators, progress on the achievement of the Europe 2020 strategy requires convergence. Thus, even if the EU as a whole meets its targets in 2020, the existence of a growing divide between the best and worst performing countries would cast doubt on the prospects of real economic convergence and the sustainability of the process. Our empirical findings reveal the existence of convergence clubs in educational attainment and the early leavers rate, and points towards the idea of multi-speed transitional dynamics in Europe, calling into question the convergence in educational performance in the EU. [ABSTRACT FROM AUTHOR]

Copyright of European Journal of Applied Economics is the property of Singidunum University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The overall aim of this research is to observe the impact of fiscal deficit on economic growth in the transition economies of South-eastern Europe. The fixed-effects and dynamic linear regression were used to carry out this revision. The data used in this revision are quantitative data annually and cover the period 2005-2019. The outcomes detect that there is a confident and statistically important effect among the fiscal deficit and economic growth for the transition economies of Southeast Europe, supporting the Keynesian theory. Furthermore, the outcomes of this research show that public debt to GDP, foreign direct investment in GDP, exports, and imports in GDP have an important effect on economic growth. Findings have shown that public debt and imports have a positive influence on economic growth, unlike exports and foreign direct investment, which showed an adverse effect on economic growth. Moreover, for other additional factors, the inflation rate, the employment rate, and the real interest rate, the results of the study do not show any significant consequences on economic growth. The research also contributes in the macroeconomic aspect to the opening of discussions among the relevant stakeholders, including those coming from the policy-making area. [ABSTRACT FROM AUTHOR]

"How the World Became Rich: The Historical Origins of Economic Growth" by Mark Koyama and Jared Rubin is a comprehensive analysis of the determinants of economic growth on a global scale. The authors explore various factors such as geography, institutions, culture, demographics, and colonization to explain the divergent economic paths of different countries and regions. The book also examines the specific characteristics of Europe and Britain that led to the Industrial Revolution, as well as the spread of industrialization and economic growth to other parts of the world. While the book lacks precision in some areas, it offers clear and engaging insights that make it suitable for a wide-ranging audience, including high-school teachers, economists, and students of economic history. [Extracted from the article]

The relationship between international trade and economic growth has been an area of interest to many researchers in recent years. Although the literature is broad with respect to this topic, few studies have focused on the particular effect of cultural exports and imports on economic growth. This study addresses the relationship between trade in cultural goods and economic growth for 31 countries in Europe for the period 2004–2017, through a vector error correction model (VECM). A panel Granger causality test and a system generalized method of moments (GMM) are also utilized in this study. Cultural trade is characterized by exports and imports of cultural goods. The results indicate there is a long-run equilibrium relationship between gross domestic product, total exports, capital formation and labour force. Cultural exports and imports have a positive effect on GDP in the long run. In the short run, there is Granger causality of cultural imports on economic growth, total exports, total imports and capital formation. [ABSTRACT FROM AUTHOR]

Due to the immense pressure of environmental pollution, economic growth and energy usage, green growth is recognized as the fundamental development strategy in Europe. This paper assesses environmental efficiency (ENE) of 54 industries from 28 European countries across the three sectors of an economy over the 2000–2014 period using a non-radial directional distance function (DDF). The aim of this study is to shed light and provide a deeper understanding of the different levels of technological heterogeneity that exist among industries by incorporating the metafrontier approach under distinct sector and country-specific production frontiers. The results reveal that industries present higher levels of environmental efficiency within their sectors while manufacturing industries achieve the lowest progress in environmental efficiency. Thus, it is critical to introduce and implement sector-oriented policies rather than common guidelines for all European countries. [ABSTRACT FROM AUTHOR]

This study aims to shed light on the capital buffer and risk adjustments in the banking sector of South-Eastern European countries following the financial crisis of 2008 that triggered a series of bank reforms and new regulations. Using Bankscope data for the period 2009–2014, we investigate the effect of economic growth and institutional quality on banks' voluntary capital buffers and risk. Our main findings suggest first that changes in risk positively affect capital buffers. Second, we find that risk adjustments are negatively affected by economic growth, but no significant effect of economic growth on the capital buffer was noted. Finally, our results show that a rise in institutional quality reduces the need for banks to extend their capital buffers. [ABSTRACT FROM AUTHOR]

• Mismanaged e-waste used as indicator of environmental degradation. • Environmental Kuznets Curve evidenced for mismanaged e-waste in EU countries. • Mismanaged e-waste grows with economy up to turning point then declines. • Robust results across different econometric methods, including FMOLS, DOLS, OLS. • Credit to private sector has positive effect (increase) on mismanaged e-waste. The volumes of waste electrical and electronic equipment are rapidly increasing worldwide. While the relationship between e-waste generation and economic growth has previously been studied, mismanaged e-waste has received little attention. This study examines the environmental Kuznets curve (EKC) hypothesis between economic growth and mismanagement e-waste for 27 European countries over the period 2008–2016. Previous studies on ECK employed waste generation as a proxy for environmental degradation, while this work uses mismanaged e-waste, namely uncollected and non-recycled/non-reused e-waste. Two different econometric methods (dynamic and static) are applied; the first method uses Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Square (DOLS) as panel integration estimation, while the second method employs traditional Pooled Ordinary Least Square (OLS) and Robust Least Squares (MM-estimation). The advantages of the first method are its ability to avoid the problems of endogeneity and serial correlation, while the second method is applied to check the robustness of the results and to disclose whether the data set suffers from outliers. All estimators used consistently identified the inverted U-shaped relationship between economic growth and mismanaged e-waste, as postulated by the EKC hypothesis: quantities of mismanaged e-waste increase along economic growth up to a certain economic development stage (turning point), but then mismanaged e-waste quantities decline while economy continues to grow. A unidirectional causality relationship running from economic growth to uncollected and non-recycled/non-reused e-waste was found. Furthermore, the results reveal that mismanaged e-waste increases with higher credit to private sector. [ABSTRACT FROM AUTHOR]

• We examine the interaction among banking competition, stock and insurance market development, and economic growth. • The focus is on a sample of European countries over 1996-2016. • A panel vector error-correction model is used for the empirical investigation. • There is evidence of Granger causality, both short- and long-run, among the variables. There have been major reforms of the financial system within Europe over the past two decades. These reforms were initiated to enhance the competitiveness and sustainable economic growth of economies in this region. This paper investigates the inter-relationships between the reforms undertaken in the financial sector (banking sector, stock market, and insurance industries) and economic growth in Europe. More specifically, this study examines whether there are Granger causal relationships between banking competition, stock-market development, insurance market development, and economic growth, using a panel dataset covering European countries over the period from 1996 to 2016. Utilizing a multivariate framework, the study's results show that all the variables are cointegrated. The findings reveal a network of Granger causal associates between the variables, including short-run bidirectional causality between stock market development and insurance market development. In the long run, there is compelling evidence of Granger causality from banking competition, insurance market development, and stock market development to economic growth. The results provide valuable insights into the types of financial sector reforms that will enhance sustainable economic growth in Europe. Note 1 : PEG is the per capita economic growth rate; BAC is banking competition; IMD is insurance market development; and SMD is stock market development. Note 2 : SMC is stock market capitalization, STR is stock turnover ratio, LIP is life insurance penetration, NIP is non-life insurance penetration, and TIP is total insurance (life & non-life) penetration. Note 3 : H 1A : BAC Granger-causes PEG ; H 1B : PEG Granger-causes BAC ; H 2A : IMD Granger-causes PEG; H 2B : PEG Granger-causes IMD ; H 3A : SMD Granger-causes PEG ; H 3B : PEG Granger-causes SMD ; H 4A : IMD Granger-causes BAC ; H 4B : BAC Granger-causes IMD ; H 5A : SMD Granger-causes BAC ; H 5B : BAC Granger-causes SMD ; H 6A : SMD Granger-causes IMD ; and H 6B : IMD Granger-causes SMD. Note 4 : Possible Granger causal relationship between any two variables is tested in the presence of the other two variables. Image, graphical abstract [ABSTRACT FROM AUTHOR]

Studies have shown that the economic crisis that started in 2008 was followed by a sharp decline in political trust in some liberal democracies. These findings suggest that an economic downturn might contribute to a more structural crisis of democratic legitimacy. From 2011 on, however, unemployment levels in industrialized democracies started to decline again. In this paper, we investigate how public opinion reacted to this gradual economic recovery. Previous studies examining economic evaluations by the public suggest that there is a negativity bias, with public opinion reacting stronger to an economic downturn than to economic growth. We analyse the ESS data from 2002 to 2016 (eight waves) and find that public opinion reacted positively to economic recovery, with levels of political trust gradually rising to pre-crisis levels in most countries. In the discussion section, we reflect on the implications of our findings for the study of trends in political trust. [ABSTRACT FROM AUTHOR]

Using a unique data set of annual nighttime satellite images from the Defense Meteorological Satellite Program's Operational Linescan System, this article, under the assumption that the density of sum of lights is a proxy for the concentration of populations and economic activities, provides empirically based evidence on the extent of concentration, growth and convergence in Europe between 1992 and 2012. We find that the concentration of populations and economic activities was associated with the level, density and growth of economic factors. Decomposing these economic factors, the agricultural sector, which was a sector resilient to economic recession, seems to have been the key determinant of concentration. Finally, there is strong evidence of divergence in concentration, implying that socioeconomic activities will continue to be concentrated in European urban areas. [ABSTRACT FROM AUTHOR]

The existing empirical literature on economic convergence and growth emphasizes the importance of foreign capital inflows for the Central, Eastern, and Southeastern European (CESEE) countries. This paper challenges such arguments by stating that not all forms of foreign capital inflows are beneficial for the economic growth of CESEE countries. Our results suggest that remittances (as an alternative foreign capital inflow) tend to slow down economic growth. Moreover, apart from the prevailing trends to investigate the economic convergence of CESEE towards Western European countries, this paper focuses on economic convergence within the CESEE region, that is, on economic convergence of the non-EU CESEE countries towards EU CESEE countries. We found that, in the last two decades, the living standard in the CESEE region has become increasingly equal. There is a tendency for poorer non-EU CESEE countries to grow faster than richer EU CESEE countries, which confirms the existence of absolute β -convergence. We have also found that each CESEE country converges 2.8% closer to its own steady state, in the sense of conditional β , every year. [ABSTRACT FROM AUTHOR]

This study aims to identify the determinant country-level factors that impact the trend of registered death cases from the recently emerged infectious disease COVID-19, analyzing data from March 2020 to July 2020, for 40 European countries. We use four categories of indicators covering major areas of influence: health, demographic, economic, and societal/cultural indicators. We reduce the dimensionality of the data to three latent factors by applying a Principal Component Analysis method, and we employ a multiple linear regression model to estimate the effects of these factors on the trend of death rates. The main result of the study is that a decreasing trend of death cases is the effect of a functional and citizen-oriented state, and is not only impacted by characteristics of the medical system or by individual features. Our findings also suggest that the premises for a low mortality rate are built by policies that have effects in the long- and medium- term. These policies refer to economic growth, sustainable development, healthcare, and the creation of a stable political system and an efficient administration. [ABSTRACT FROM AUTHOR]

We argue that the growth rate, but not the level of aggregate income, affects the support for extreme political parties. In our model, extreme parties offer short-run benefits to part of the population at the expense of a minority. Growth effects on the support for such parties arise when uncertainty exists over whether the same subset of individuals will receive the same benefits in the future. More people are willing to take political risks if economic growth is slow. Based on a panel of 16 European countries, our empirical analysis shows that slower growth rates are associated with a significant increase in right-wing extremism. We find no significant effect of economic growth on the support for extreme left-wing parties. [ABSTRACT FROM AUTHOR]

On 16 April 2020, the Organisation for Economic Co-operation and Development (OECD) released preliminary figures2 according to which the collective Official Development Assistance (ODA) from the European Union (EU) and its Member States to developing countries amounted to 75.2 billion in 2019, representing 55.2% of global assistance. The EU and its Member States therefore maintain their position as the largest international aid donor. In spite of the vast amount of resources spent annually by the EU, there is widespread perception that the EU punches below its weight. Notwithstanding the undeniable positive impact that the EU external policies have on the ground, the EU's role in international development remains mostly invisible. This paper presents the perception of the EU and EU's policies abroad and makes the case for the necessity of an integrated and fully coordinated EU Public Diplomacy (PD) capable of communicating effectively and strengthening EU's role as a global actor. It argues that culture has a substantial potential in Europe's international relations, making the case for the necessity of an integrated and tailor-made EU Cultural Diplomacy. This paper shows that culture is a worthwhile investment in driving economic growth. Failure to capitalise on this would be a huge missed opportunity for Europe. [ABSTRACT FROM AUTHOR]

This paper aims to consider the impact of military outlays on economic stance in several states in Central Europe. Therefore, we attempted to search the long- and short-range causality between defence spending and economic growth in the Visegrad countries through analysing general values (total spending approach), as well as outlay distribution in the defence sector (spending division approach). To do so, we first presented the theoretical aspect of the problem, as well as the trends in military spending of the considered states since 1993. Second, we reviewed international results of empirical examinations in this area. Then we examined causalities among variables on the grounds of VAR methodology. We did not validate the long-term causality between defence spending and economic growth in the Visegrad countries. Nonetheless, we confirmed several short-term relationships in both empirical approaches. [ABSTRACT FROM AUTHOR]

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Since 2010, cities across Europe have served as 'European Green Capital' (EGC), an initiative celebrating the contribution of environmental action to urban life. Drawing together the experiences of initial EGC winners, for the first time this paper considers what EGC means to city managers as a way of celebrating and driving forward environmental performance, as well as promoting their own cities. Through a discussion of the experiences of the initial host cities, the paper outlines a typology of EGCs. In doing so the paper notes a shift to a harder-edged economic outlook, which increasingly incorporates themes of entrepreneurial economic growth and competitiveness. [ABSTRACT FROM AUTHOR]