A Panel Data Analysis on Sustainable Economic Growth in India, Brazil, and Romania

Batrancea Ioan, Rathnaswamy Malar Kumaran, Batrancea Larissa, Nichita Anca, Gaban Lucian, Fatacean Gheorghe, Tulai Horia, Bircea Ioan and Rus Mircea-Iosif
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Batrancea Ioan: Faculty of Economics and Business Administration, Babes-Bolyai University, 58–60 Teodor Mihali Street, 400591 Cluj-Napoca, Romania
Rathnaswamy Malar Kumaran: Faculty of Economics and Business Administration, Babes-Bolyai University, 58–60 Teodor Mihali Street, 400591 Cluj-Napoca, Romania
Batrancea Larissa: Faculty of Business, Babes-Bolyai University, 7 Horea Street, 400174 Cluj-Napoca, Romania
Nichita Anca: Faculty of Economic Sciences, “1 Decembrie 1918” University of Alba Iulia, 15–17 Unirii Street, 510009 Alba Iulia, Romania
Gaban Lucian: Faculty of Economic Sciences, “1 Decembrie 1918” University of Alba Iulia, 15–17 Unirii Street, 510009 Alba Iulia, Romania
Fatacean Gheorghe: Faculty of Economics and Business Administration, Babes-Bolyai University, 58–60 Teodor Mihali Street, 400591 Cluj-Napoca, Romania
Tulai Horia: Faculty of Economics and Business Administration, Babes-Bolyai University, 58–60 Teodor Mihali Street, 400591 Cluj-Napoca, Romania
Bircea Ioan: Faculty of Economics and Law, University of Medicine, Pharmacy, Science and Technology of Targu Mures, 38 Gheorghe Marinescu Street, 540142 Targu Mures, Romania
Rus Mircea-Iosif: National Institute for Research and Development in Constructions, Urbanism and Sustainable Spatial Development “URBAN INCERC”, 117 Calea Floresti, 400524 Cluj-Napoca, Romania

JRFM, 2020, vol. 13, issue 8, 1-19

Abstract: The study investigated the impact of factors such as non-performing loans, CO 2 emissions, bank credit, and inflation on the variable sustainable economic growth for India, Brazil, and Romania during the period 2005–2017, through a panel data analysis. Specifically, we investigated the timeline before, during, and after economic turmoil, with a special focus on the global financial crisis. Our empirical results are valuable for both developing and developed nations. As a first result, we showed that CO 2 emissions increased the level of economic growth, but in this context, authorities should design suitable policies to limit its impact on the overall society. In addition, a single supervision mechanism increased the level of sustainable economic growth. Last but not the least, the period during and after the global financial crisis, sustainable economic growth decreased under the influence of bank credit, inflation, and non-performing loans. Within this framework, public authorities are called to design efficient economic, fiscal, and monetary policies.

Keywords: CO 2 emissions; gross domestic product; sustainable economic growth; single supervision mechanism; global financial crisis; inflation; bank credit; non-performing loans (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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