Search

In order to balance economic growth with environmental preservation, the implementation of sustainable policies is necessary. As such, it is imperative to have a comprehensive understanding of the intricate relationship between the economy and the environment. This study examines the relationship between CO2 emissions and GDP per capita in five WB countries during 1960-2018, using a methodological framework that includes panel unit root testing, cointegration testing, and a Vector Error Correction Model. The study provides robust evidence of a long-term cointegration between CO2 emissions and GDP per capita. Furthermore, the study also reveals a short-run bidirectional causal relationship between CO2 emissions and GDP per capita. In the long run, no statistically significant causality exists from GDP per capita to CO2 emissions, but it is statistically significant from CO2 emissions to GDP per capita. These findings offer valuable insights for policymakers to develop comprehensive policies that promote economic growth and environmental sustainability, such as investing in clean energy, implementing stronger environmental regulations, and encouraging environmentally sound management practices. [ABSTRACT FROM AUTHOR]

Since the 1970s, the issue of environmental degradation has received considerable attention. Environmental Kuznets curve is one of the most well-known hypotheses that explains the relationship between economic growth and environmental pollution. It represents an important model that enables policymakers to deliver quality information-based decisions. In this paper, we provide the theoretical framework of the Environmental Kuznets curve and examine existing literature on the EKC hypothesis. The systematic literary survey includes studies conducted for single countries as well as for groups of countries. Most of the studies were empirically testing the existence of an inverted U-shaped relationship between economic growth and carbon dioxide emissions. Due to the different periods, sets of independent variables and methodological frameworks, the results are inconclusive, which is consistent with previous literature surveys on the same topic. [ABSTRACT FROM AUTHOR]

The public sector in developed countries went through various forms of transformation in the twentieth century. The expansion of the public sector resulted in high levels of public spending in developed countries. The financial crisis of 2008 led to recessions in the economies of developed countries, the public debt growth, and actualized the issue of the public sector optimal size and efficiency. This study analysed the public sector efficiency in 19 developed countries. The analysis focuses on the relationship between the size of public expenditure and economic growth in the global financial crisis and the measures implemented. The aim of the research in this paper is a comparison of total and partial efficiency of the public sector in developed countries, in order to determine the characteristics of the public sector operations. The comparison covers the areas of the public sector operations in order to identify sources of inefficiency. Partial and overall efficiency of countries are analysed with different size and concept of the public sector, to determine the relationship between the public sector size, efficiency and welfare of citizens. The research results clearly indicate (un)justified state intervention in developed countries [ABSTRACT FROM AUTHOR]