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Tax and Non-tax Policies Towards the Finance of Sustainable Economy: The Mediating Role of Eco-Innovation

In: Economics and Finance Readings

Author

Listed:
  • Emmanuel Ebo Arthur

    (University of Pardubice)

  • Raymond Kwame Adane Darfo-Oduro

    (University of Pardubice)

  • Solomon Gyamfi

    (University of Pardubice)

  • Yee Yee Sein

    (University of Pardubice)

  • Jan Stejskal

    (University of Pardubice)

  • Viktor Prokop

    (University of Pardubice)

Abstract

Previous research indicates that government plays a key role in the influence of the circular economy (CE). It does this through regulations and fiscal policies such as taxes. Also, firms play key roles in complementing the efforts of government towards a CE. However, countries in Central and Eastern Europe (CEE) have shown a lag in achieving CE benefits compared to countries in Western Europe. This study therefore introduces eco-innovation activities of firms as a mediating variable between government tax and non-tax policies towards CE benefits. Data on 16 countries from 2000 to 2019 from the OECD and Eurostat were used. The countries used in the study are Slovakia, Czech Republic, Hungary, Poland, Slovenia, Finland, Denmark, France, Germany, Norway, Netherlands, Austria, Spain, Belgium, Portugal, and Italy. We confirmed the hypotheses that government tax and non-tax policies indirectly influence CE benefits through eco-innovation activities. Furthermore, this research contributes to the theory of green paradoxes by covering the stringency of government policies. We recommend that non-tax-based policies through subsidies and a strengthened institutional framework should promote CE.

Suggested Citation

  • Emmanuel Ebo Arthur & Raymond Kwame Adane Darfo-Oduro & Solomon Gyamfi & Yee Yee Sein & Jan Stejskal & Viktor Prokop, 2023. "Tax and Non-tax Policies Towards the Finance of Sustainable Economy: The Mediating Role of Eco-Innovation," Springer Books, in: Evan Lau & Rayenda Khresna Brahmana & Lee Ming Tan (ed.), Economics and Finance Readings, pages 181-199, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-1979-6_11
    DOI: 10.1007/978-981-99-1979-6_11
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