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An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: the case of Central and Eastern European Countries

Author

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  • Aleksandra Pieloch-Babiarz

    (University of Lodz)

  • Anna Misztal

    (University of Lodz)

  • Magdalena Kowalska

    (University of Lodz)

Abstract

Sustainable development is a socioeconomic development that respects environmental protection. It can be analyzed at a macro- and microscale. The goals of sustainable development are realized by ordinary people, politicians, organizations, and enterprises. At the enterprise level, sustainable development means an improvement in quantitative and qualitative conditions of running a business, the use of pro-ecological standards and solutions, and support of employee development. The sustainable development of enterprises depends on several factors, including macroeconomic conditions. The main aim of this paper is to show the impact of the macroeconomic stabilization on the sustainable development of the manufacturing enterprises in the Central and Eastern European Countries (CEECs). We examine only the CEECs which are the members of the European Union. Considering this, we focus on the eleven counties (i.e., Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic, and Slovenia) in the period from 2008 to 2018. The main hypothesis is formulated as follows: Macroeconomic stabilization has a statistically significant impact on the sustainable development of manufacturing enterprises in the period from 2008 to 2018. The results of the study indicate that in all analyzed countries there is a statistically significant relationship between the indicator of sustainable development (SISDE) and the indicator of macroeconomic stabilization. The highest level of correlation was observed in Czechia, Poland, and Hungary, while the lowest in Estonia.

Suggested Citation

  • Aleksandra Pieloch-Babiarz & Anna Misztal & Magdalena Kowalska, 2021. "An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: the case of Central and Eastern European Countries," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(6), pages 8669-8698, June.
    • Handle: RePEc:spr:endesu:v:23:y:2021:i:6:d:10.1007_s10668-020-00988-4
    DOI: 10.1007/s10668-020-00988-4
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    2. Bielecka Elżbieta & Calka Beata, 2022. "Towards sustainable development exemplified by monitoring land use efficiency in Europe using SDG 11.3.1," Miscellanea Geographica. Regional Studies on Development, Sciendo, vol. 26(4), pages 208-214, October.
    3. Zhiyuan Dong & Zenglian Zhang, 2022. "Does the Business Environment Improve the Sustainable Development of Enterprises?," Sustainability, MDPI, vol. 14(20), pages 1-20, October.
    4. RADOIU Alina & BATUSARU Cristina Maria, 2022. "Sustainable Value Of Companies," Management of Sustainable Development, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 14(1), pages 10-15, June.

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