Journal
SUSTAINABILITY
Volume 14, Issue 1, Pages -Publisher
MDPI
DOI: 10.3390/su14010100
Keywords
inclusive growth; inclusive development; sustainable finance; government; central bank; fiscal policy; monetary policy; European Union; governance
Ask authors/readers for more resources
The aim of this article is to identify the level of inclusive growth and examine the influence of determinants on inclusive growth in EU countries. The study finds that only four countries have shown the highest inclusive growth over the past 21 years, while three countries consistently record the lowest inclusive growth.
The aim of the article is to identify a degree of inclusive growth and to examine the influence of determinants of inclusive growth in the European Union (EU-27) countries, with particular emphasis on factors related to the influence of governments and central banks. The study took advantage of the weight correlation method, which was used to build an inclusive growth measure for the EU-27 for the years 2000, 2008, and 2020. For the construction of the inclusive growth rate, 42 factors were selected that affect inclusive growth in the economic, financial, and non-wage area. These determinants are found in the area of the influence of economic authorities, and mainly in the area of authorities responsible for conducting monetary and fiscal policy and general governance. On the basis of the built-up indicator of inclusive growth, it was noticed that among the 27 EU countries in the studied three years, only four countries distinguished themselves with the highest inclusive growth over the last 21 years, these are: Denmark, Luxembourg, Sweden, and Finland. On the other hand, invariably, three countries recorded the lowest inclusive growth, i.e., Bulgaria, Croatia, and Romania. The added value of the structure of the inclusive growth indicator was a possibility to observe which of the three areas: economic, financial, or non-wage, had a significant impact on the position of a given country in the compiled inclusive growth ranking.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available