SHS Web Conf.
Volume 91, 2021Innovative Economic Symposium 2020 – Stable Development in Unstable World (IES2020)
|Number of page(s)||13|
|Section||Stable Development in Unstable World|
|Published online||14 January 2021|
An Empirical View on the Determinants of Sustainable Economic Development: Evidence from EU(28) Member States
University of Presov in Presov, Faculty of Management, Presov, Slovak Republic
* Corresponding author: firstname.lastname@example.org
Sustainable development represents a comprehensive approach that focuses on economic, social and environmental aspects in order to meet the needs of the present without compromising the ability of future generations. The main aim of the paper is to reveal the impact of selected global multicriteria indices (through Global Innovation Index, Doing Business Index, Economic Freedom Index, Corruption Perception Index and Human Development Index) on sustainable development (expressed by Sustainable Economic Development Assessment) within EU(28) countries for the period of 2011 to 2018. Secondary data were processed using panel data regression analysis. Results of average score in the field of sustainable economic development showed that Finland (84.5) achieved the best-performed, while the worst position was recorded by Romania (56.5). Looking at the selected indices average scores, the leading position was indicated in the case of Denmark (80.5) and the worst results was obtained by Greece (57.6). Based on the results of the panel regression analysis, to the key determinants influencing the sustainable economic growth of the EU(28) countries belong such variables as innovation activity, business environment, corruption issues and human resources. The presented findings provide valuable insight toward to strategic priorities review, as well as, it can also help governments move from plans to action.
Key words: sustainable growth / innovation / entrepreneurship / economic freedom / corruption / human resources / EU(28) countries
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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