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

  • Basarab Gogoneaţă

    ()

    (Academy of Economic Studies, Bucharest, Romania)

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    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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    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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    14. 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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