Green Way-Out from Depression: Insights from the E.U

Evangelia Sdrolia and Grigoris Zarotiadis
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Evangelia Sdrolia: Aristotle University of Greece, Department of Economics

South-Eastern Europe Journal of Economics, 2012, vol. 10, issue 2, 99-111

Abstract: Global economic crisis, along with domestic structural inefficiencies, weakens growth perspectives for the less developed and/or the financially weaker economies of Europe. On the other hand, the relevant literature claims that technological innovations, especially with respect to the ecological aspects of products and processes, could be an effective way-out. The present paper contributes to this discussion in two ways: first, we discuss relevant case studies of certain multinationals. Second, we proceed with a panel data anlysis of recent intra-EU data, estimating the effect of environmental expenditures and investments on exporting activity, considering also "gravity"-explanatory variables. We conclude that "green"-investments seem to have a positive effect, both, in the micro - as well as macro-dimension, while expenditures could affect extroversion and copetitiveness adversely.

Keywords: green economy; southern Europe; competitivenes (search for similar items in EconPapers)
JEL-codes: F14 Q56 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:seb:journl:v:10:y:2012:i:2:p:99-111

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