“Green Way-out from the crisis: the European experience”

“Green Way-out from the crisis: the European experience” (Co-author: Eva Sdrolia).

SOUTH-EASTERN EUROPE JOURNAL OF ECONOMICS, 2 (2012) 99-111

05/2012 – 8th International Conference of ASECU, University of Rzeszow, Poland

Global economic crisis, along with domestic structural inefficiencies, weakens growth perspectives for the less developed and/or the financially weaker economies of Europe. On the other hand, the relevant literature that technological innovations, especially with respect to the ecological aspects of products and processes, could be an effective way-out. The present paper contributes to this discussion in two ways: first, we discuss relevant case studies of certain mulitnationals. Second, we proceed with a panel data analysis of recent intra-EU data, estimating the effect of enviromental expenditures and investments on exporting activity, considering also “gravity” – explanatory variables. We conclude that “green” – investments seem to have a positive effect, both, in the micro – as well as macro – dimension, while expenditures could affect extroversion and competitiveness adversely.

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