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Relationship Between the Level of Poverty and the Factors of Green Economy in the Countries of the European Union

Author

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  • Vladislav N. Rutskiy

    (HSE University, Moscow 101000, Russian Federation; Siberian Federal University, Krasnoyarsk 660041, Russian Federation)

  • Ilia A. Filippov

    (Siberian Federal University, Krasnoyarsk 660041, Russian Federation)

Abstract

The paper is aimed at studying approaches to measuring poverty and the green economy, and conducting an empirical analysis of the relationship between the poverty rate and the factors of the green economy for the countries of the European Union. The authors identify trends in the formation of a new model of environmentally sustainable development in these countries. An empirical correlation and regression model is developed, which describes, along with macroeconomic factors, the impact of green economy factors on the level of poverty risk in the EU countries. The assessment of the model specification based on panel data of the countries of the European Union shows a negative relationship between the share of renewable energy and labor productivity on the one hand and the level of poverty risk on the other hand. This indicates the need for further development of green economy in the EU countries countries.

Suggested Citation

  • Vladislav N. Rutskiy & Ilia A. Filippov, 2022. "Relationship Between the Level of Poverty and the Factors of Green Economy in the Countries of the European Union," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 56-70, February.
    • Handle: RePEc:fru:finjrn:220101:p:56-70
    DOI: 10.31107/2075-1990-2022-1-56-70
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    References listed on IDEAS

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    1. Andrei Bougrov & Robert Johnson & Benno Ndulo & Pedro Paez & Avinash Persaud & Heidemarie Wieczorek-Zeul & Akhtar Aziz Zeti & Charles Goodhart & Jomo Kwame Sundaram & Youssef Boutros-Ghali & José Anto, 2010. "The Stiglitz Report," Working Papers hal-03415638, HAL.
    2. Robin Naidoo, 2004. "Economic Growth and Liquidation of Natural Capital: The Case of Forest Clearance," Land Economics, University of Wisconsin Press, vol. 80(2), pages 194-208.
    3. Vladislav N. Rutskiy & Maria V. Osipenko, 2020. "Green Economy as a Labor Productivity Factor in the Manufacturing Industry of European Union Countries," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 69-84, August.
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    More about this item

    Keywords

    green economy; sustainable development; poverty; inequality; natural capital; human capital; green financing;
    All these keywords.

    JEL classification:

    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • 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
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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