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Sustainable economic growth through green marketing: A macroeconomic study

Author

Listed:
  • Lyubomir Stoychev

    (Department of Economic Science, University of Plovdiv Paisii Hilendarski)

  • Stefan Raychev

    (Department of Economic Science, University of Plovdiv Paisii Hilendarski)

Abstract

This study emphasizes the importance of green marketing in promoting sustainable economic growth, particularly through the development of green sectors like the EGGS industry. Green marketing highlights the environmental and economic benefits of such sectors, attracting investment and driving sectoral growth. By fostering consumer awareness and aligning with sustainability goals, green marketing enhances the contribution of the EGGS sector to overall economic performance. Using data from 27 primarily EU countries from 2013 to 2021 (excluding 2020 due to COVID-19?s economic impact), this analysis employs time-series regression and correlation methods to examine the relationship between EGGS contributions and GDP growth. The results show positive correlations in the majority of countries, , underscoring the role of the EGGS sector in driving sustainable growth. As economies transition toward greener practices, green marketing will be crucial in supporting sectors like EGGS, which not only contribute to GDP growth but also promote environmental sustainability.

Suggested Citation

  • Lyubomir Stoychev & Stefan Raychev, 0000. "Sustainable economic growth through green marketing: A macroeconomic study," Proceedings of Economics and Finance Conferences 15016516, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:15016516
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    References listed on IDEAS

    as
    1. Deimena Kiyak & Rasa Grigoliene, 2023. "Analysis of the Conceptual Frameworks of Green Marketing," Sustainability, MDPI, vol. 15(21), pages 1-20, November.
    2. Rūta Banelienė & Rolandas Strazdas, 2023. "Green Innovation for Competitiveness: Impact on GDP Growth in the European Union," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 17(1), March.
    3. Sewar Alkhatib & Petra Kecskés & Veronika Keller, 2023. "Green Marketing in the Digital Age: A Systematic Literature Review," Sustainability, MDPI, vol. 15(16), pages 1-16, August.
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    Keywords

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    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • 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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