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The Long-Run Relationship Between Commerce And Sustainable Development In Baltic And Central And Eastern European Countries

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  • Basarab Gogoneaţă

    ()
    (Academy of Economic Studies, Bucharest, Romania)

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    Abstract

    The paper investigates the long-run relationship between commerce intensity and a measure of sustainable development for ten ex-communist countries that have recently joined the EU. The originality of this paper consists in applying the co-integration testing techniques for panel data regarding commerce and the “authentic” savings rate, an indicator of sustainable development, which determines the productive base that will be inherited by future generations. Econometric tests suggest a negative long-run relationship between commerce intensity and sustainable development. This result is in agreement with conclusions of other studies that have documented, in the region, an economic growth fueled by the adoption of unsustainable western consumption ideals, a low public consciousness about ecological values and weak institutions dealing with environmental issues at both government and civil society level. The negative correlation that was found could be a symptom for an evolution stage towards an economic and social maturity where commerce expansion is synchronized with accumulation of wealth that will be inherited by future generations.

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    Bibliographic Info

    Article provided by Academy of Economic Studies - Bucharest, Romania in its journal The AMFITEATRU ECONOMIC journal.

    Volume (Year): 12 (2010)
    Issue (Month): 27 (February)
    Pages: 36-51

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    Handle: RePEc:aes:amfeco:v:12:y:2010:i:27:p:36-51

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    Related research

    Keywords: sustainable development; commerce; Central and Eastern Europe; genuine savings; co-integration; panel data;

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    1. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages S71-102, October.
    2. Peter Pedroni, 2004. "Panel Cointegration: Asymptotic and Finite Sample Properties of Pooled Time Series Tests with an Application to the PPP Hypothesis," Department of Economics Working Papers 2004-15, Department of Economics, Williams College.
    3. Grossman, Gene & Krueger, Alan B, 1992. "Environmental Impacts of a North American Free Trade Agreement," CEPR Discussion Papers 644, C.E.P.R. Discussion Papers.
    4. Peter Pedroni, 2000. "Fully Modified OLS for Heterogeneous Cointegrated Panels," Department of Economics Working Papers 2000-03, Department of Economics, Williams College.
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    8. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Department of Economics Working Papers 2000-02, Department of Economics, Williams College.
    9. Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-74, December.
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    12. Bussière, Matthieu & Fidrmuc, Jarko & Schnatz, Bernd, 2005. "Trade integration of Central and Eastern European countries: lessons from a gravity model," Working Paper Series 0545, European Central Bank.
    13. Ryszard Rapacki & Mariusz Pr�chniak, 2009. "The EU enlargement and economic growth in the CEE new member countries," European Economy - Economic Papers 367, Directorate General Economic and Monetary Affairs (DG ECFIN), European Commission.
    14. Stern, David I. & Common, Michael S. & Barbier, Edward B., 1996. "Economic growth and environmental degradation: The environmental Kuznets curve and sustainable development," World Development, Elsevier, vol. 24(7), pages 1151-1160, July.
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    Cited by:
    1. Viorel Coca & Mihaela Dobrea & Cristinel Vasiliu, 2013. "Towards a sustainable development of retailing in Romania," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(Special 7), pages 583-602, November.

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