Is the ‘Troika’ Bad for the Environment? An Analysis of EU Countries' Environmental Performance in Times of Economic Downturn and Austerity Memoranda
Marouko Tsagkari and
Chrysovalantis Malesios ()
Ecological Economics, 2018, vol. 150, issue C, 34-51
In this paper we examine the effect of the current economic crisis on the environmental performance of the EU countries. By employing Hierarchical Linear Multilevel (HLM) modeling we find that, for the period 2000–2015, a drop in the national GDP (a “recession effect”) as well as endorsing a Memorandum of Understanding (MoU) for receiving a IMF/EU/ECB financial “rescue-package” (a “Troika effect”) have non-significant to positive impacts on a number of national environmental quality and policy indicators, over and above other (economic, political and governance) predictors, for Eurozone and non-Eurozone countries alike. Nevertheless, this changes drastically if we examine these two factors' interaction: experiencing a ‘recession’ while being a recipient of a Troika-sponsored ‘rescue package’ has detrimental effects on an EU country's national environment.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolec:v:150:y:2018:i:c:p:34-51
Access Statistics for this article
Ecological Economics is currently edited by C. J. Cleveland
More articles in Ecological Economics from Elsevier
Bibliographic data for series maintained by Nithya Sathishkumar ().