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The impact of government CSR supporting policies on economic growth

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  • Škare, Marinko
  • Golja, Tea

Abstract

In this paper, we explore the link between socially responsible companies and economic growth across 25 countries during the 2000–2008 period. We extend the growth equation by incorporating corporate social responsibility (CSR) variables and a dummy variable to measure the impact of government CSR-supporting policies. We find that CSR firms are important for economic growth (positively affect growth) and that countries that strongly support CSR achieve higher growth rates. Specifically, countries without an organized and supportive CSR environment and guidelines can hardly expect to increase economy performance through the new growth channels generated by CSR companies (new markets and customers). It is thus important to investigate how CSR companies affect economic growth towards reconsideration of the government's role in CSR promotion as a means to boost economic growth.

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  • Škare, Marinko & Golja, Tea, 2014. "The impact of government CSR supporting policies on economic growth," Journal of Policy Modeling, Elsevier, vol. 36(3), pages 562-577.
    • Handle: RePEc:eee:jpolmo:v:36:y:2014:i:3:p:562-577
    DOI: 10.1016/j.jpolmod.2014.01.008
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    Cited by:

    1. Xiaowei Ma & Wanwan Ma & Xin Zhao & Xiaoxiao Zhou & Kamel Si Mohammed, 2024. "Increasing Burdens or Reducing Costs: Influence of Corporate Social Responsibility on Cost Stickiness," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2136-2155, March.
    2. Jiangsheng Deng & Rongguang Zhang & Qiwen Qiu, 2023. "Spatial Impact of Industrial Structure Upgrading and Corporate Social Responsibility on Carbon Emissions: Evidence from China," Sustainability, MDPI, vol. 15(13), pages 1-14, July.
    3. Lopez, Belen & Rangel, Celia & Fernández, Manuel, 2022. "The impact of corporate social responsibility strategy on the management and governance axis for sustainable growth," Journal of Business Research, Elsevier, vol. 150(C), pages 690-698.
    4. Francisco J. Alcaraz-Quiles & Andrés Navarro-Galera & David Ortiz-Rodríguez, 2020. "The contribution of the right to information laws in Europe to local government transparency on sustainability," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 20(1), pages 161-178, March.
    5. Waris Ali & Zeeshan Mahmood & Jeffrey Wilson & Hina Ismail, 2024. "The impact of sustainability governance attributes on comprehensive CSR reporting: A developing country setting," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 1802-1817, May.
    6. Liu, Feng & Huang, Wanying & Zhang, Jing & Fang, Mingjie, 2024. "Corporate social responsibility in family business: Using machine learning to uncover who is doing good," Technology in Society, Elsevier, vol. 76(C).
    7. Yanhong Tang & Yanling Ma & Christina W.Y. Wong & Xin Miao, 2018. "Evolution of Government Policies on Guiding Corporate Social Responsibility in China," Sustainability, MDPI, vol. 10(3), pages 1-20, March.
    8. Suwala, Lech & Albers, Hans-Hermann, 2020. "Corporate Spatial Responsibility and Sustainable Development Goals," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 141-153.
    9. Chai‐Aun Ooi & Chee‐Wooi Hooy & Kyoko Nagata, 2021. "Corporate Social Responsibility, Firm Value and Corporate Governance Code Revisions: The Asian Evidence," Asian Economic Journal, East Asian Economic Association, vol. 35(1), pages 27-56, March.
    10. Le Thi Thanh Xuan & Tran Tien Khoa, 2015. "Government’s and professional associations’ roles in promoting corporate social resposibility – An exploratory in Vietnamese construction firms," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 5(1), pages 23-30.

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    More about this item

    Keywords

    Word; Long-run growth; Corporate social responsibility; Sustainable growth; Jobless growth and working poor;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O50 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - General
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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