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

Vladislav Rutskiy and Ilia A. Filippov ()
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Ilia A. Filippov: Siberian Federal University, Krasnoyarsk 660041, Russian Federation

Finansovyj žhurnal — Financial Journal, 2022, issue 1, 56-70

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.

Keywords: green economy; sustainable development; poverty; inequality; natural capital; human capital; green financing (search for similar items in EconPapers)
JEL-codes: C33 O44 Q56 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:220101:p:56-70

DOI: 10.31107/2075-1990-2022-1-56-70

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