Economic Growth and Fiscal Sustainability in the EU: The Impact of an Ageing Population

2008 ◽  
Author(s):  
Giuseppe Carone ◽  
Declan Costello ◽  
Nuria Diez Guardia ◽  
Per Eckefeldt ◽  
Gilles Mourre
Keyword(s):  
Economic Growth ◽  
Fiscal Sustainability ◽  
Ageing Population ◽  
The Impact ◽  
The Eu

scholarly journals The impact of health care financing on the economic growth: EU countries analysis

2020 ◽  
Vol 1 (2) ◽  
pp. 24-32
Author(s):  
Anastasiia Samoilikova ◽  
Rosen Kunev
Keyword(s):  
Economic Growth ◽  
Health Care ◽  
Software Package ◽  
Positive Impact ◽  
Statistical Significance ◽  
Health Care Financing ◽  
Eu Countries ◽  
Per Capita ◽  
The Impact ◽  
The Eu

This article generalized modern tendencies and actual peculiarities of health care financing. The key aim of the research is to investigate the dynamics of health care financing as a factor of economic growth based on EU countries analysis. Systematization information sources connected with health care financing and its structure indicate that the EU countries analysis of dynamics of health care financing and its impact on economic growth was conducted fragmentary. This issue is still actual both for scholars and policymakers, especially for Ukraine, based on European trends. Investigation in the article is made according to the following stages: 1) introduction and relevance grounding; 2) literary review and identifying the necessity of research in this scientific area; 3) describing methodology, research methods, and current hypothesis; 4) characteristic of research results and confirming the hypothesis of the positive impact of the health care financing on economic growth; 5) making conclusions. Methodological tools of the research methods were structural and comparative analysis, logical generalization, and scientific abstraction. The methods of cross-country statistical and analytical analysis using the Excel 2010 software package for the sample from 14 EU countries for 2009-2018 (limited number of countries and limited data in 2018 relate to the data availability on open website of the EU statistical office) were applied to analyse the structure of health care financing, in particular financing schemes, main providers, and health care functions. The top countries in health care financing were identified. The methods of empirical analysis using the STATA software package for this data sample were used to confirm the hypothesis about the positive impact of the health care financing on economic growth – the GDP per capita. The nature of the analysed indices distribution was estimated based on results of Shapiro-Wilk test. So, Pearson or Spearman correlation coefficient was chosen. The statistical significance and strength of the relationship between the indicators of total expenditure for health care, and in particular government financing and compulsory contributory health care financing, voluntary health care financing, and household out-of-pocket payment for health care and the change of GDP per capita were assessed through a correlation analysis. The time lags of achievement the most statistical significance by this relationship was also identified. The results of the research show that the impact of health care financing on the change of economic growth is very high in 12 from 14 investigated EU countries (with lags of 1–3 years) and high in 2 from 14 countries (with a lag of 1 year). The character of this relationship for the most countries (9 from 14 countries) is direct (positive), and for 5 countries it is inverse (negative). The results of the research will be useful during future fundamental and practical research connected with health care financing and its modelling, for scholars and government officials to reform the health care system and its financial mechanism.

scholarly journals The Impact of Ageing Population on Economic Growth in South Asia

2019 ◽  
Vol 15 (7) ◽  
pp. 70
Author(s):  
D.K.Y. Abeywardhana
Keyword(s):  
Economic Growth ◽  
South Asia ◽  
South Asian ◽  
Ageing Population ◽  
The South ◽  
Healthcare Facilities ◽  
Main Challenge ◽  
Working Age ◽  
Working Age Population ◽  
The Impact

The share of working age population has declined all over the world. It is forecasted that this will continue for the coming years in all countries in South Asia. Low growth in working age population in South Asia will be effecting negatively for the economic growth. This paper studies whether the South Asia 2050 employment targets would be sufficient to compensate for the downward impact of demographic burden and whether the impact of demography on economic growth differs between South Asian countries. The results show that degreasing working age population is the main challenge the South Asian region faces. Further it shows that growth in GDP mainly depend on the demographic change. Population who contributed the economic development become maturing and dependents of their children. The consumption of the ageing population is very high as of higher spending on healthcare facilities. This effect badly on the economic growth in the region and cause lots of challenges to the nations.

Global Megatrends

2015 ◽  
Author(s):  
Stefan Hajkowicz
Keyword(s):  
Economic Growth ◽  
Global Climate ◽  
Digital Technologies ◽  
Ageing Population ◽  
Direct Control ◽  
Rapid Economic Growth ◽  
The World ◽  
Trajectories Of Change ◽  
Changing Demographics ◽  
The Impact

A scarcity of natural resources. The challenge to protect biodiversity and the global climate. Rapid economic growth and urbanisation in Asia and the developing world. Changing demographics and an ageing population. The impact of new digital technologies. Consumer expectations for services, experiences and social interaction. An imperative to innovate. Megatrends are gradual yet powerful trajectories of change that have the potential to throw companies, individuals and societies into freefall. In Global Megatrends author Stefan Hajkowicz identifies these seven patterns of global change and tells a story about how the world will change over the next 20 years. The book captures the thinking of many dedicated scientists and researchers who have devoted their careers to exploring and understanding change. The change heralded by megatrends lies beyond our direct control but not beyond our influence. By getting a picture of how the world is changing and what these megatrends are, we can alter our destiny.

Methods for analysis of creative, information and knowledge-based factors in the implementation of the smart specialization model in the EU regions

2020 ◽  
pp. 153-162
Author(s):  
Taras Vasyltsiv ◽  
Olha Levytska
Keyword(s):  
Economic Growth ◽  
Methodological Approach ◽  
Regional Level ◽  
Integral Index ◽  
Knowledge Based ◽  
Eu Regions ◽  
Technological Modernization ◽  
Smart Specialization ◽  
The Impact ◽  
The Eu

The aim of the article is to study the existing and find new approaches to the analysis of creative, information and knowledge-based factors that determine social transformations and economic growth of the EU regions based on smart specialization. The methodological approaches to the assessment of the implementation of creative, information and knowledge-based factors in the economy are studied. A comparative analysis of international and regional systems for evaluating creative, information and knowledge-based factors of economic growth is made. A system of indicators of the authors’ three-vector approach (by the directions: (1) intellectualization of economy, (2) digitalization of economy and society, (3) technological modernization) to the analysis of creative, information and knowledge-based factors in the realization of the smart specialization model at a regional level are developed. The developed authors’ technique allows providing a comprehensive approach to the analysis of creative, information and knowledge-based factors in terms of the smart specialization model at the regional level. The methodology involves three groups of indicators in the areas of intellectualization, digitalization, and technological modernization. The calculation of the integral index is carried out based on the method of multidimensional weighted value taking into account the degree of the weight of indicators and sub-indices (subgroups and groups of indicators). The scientific novelty of the study is that the integral index allows making important analytical conclusions about the level of development of creative, information and knowledge-based economy, as well as the correlation of these processes with the socio-economic development of regions. The methodological approach can be implemented in domestic practice for evaluating the impact of the use of creative, information and knowledge-based factors on the development of regional economies and, accordingly, for achieving the objectives of regional smart specialization strategies.

scholarly journals Impact of Information and Communication Technology Infrastructure on Economic Growth: An Empirical Assessment for the EU Countries

2018 ◽  
Vol 10 (10) ◽  
pp. 3750 ◽  
Author(s):  
Elena Toader ◽  
Bogdan Firtescu ◽  
Angela Roman ◽  
Sorin Anton
Keyword(s):  
Economic Growth ◽  
Information And Communication Technology ◽  
Communication Technology ◽  
Macroeconomic Factors ◽  
Eu Countries ◽  
Information And Communication ◽  
Per Capita ◽  
Ict Infrastructure ◽  
The Impact ◽  
The Eu

The accelerated development of information and communication technology (ICT) over the past two decades has encouraged an increasing number of researchers to examine and measure the impact of this technology on economic growth. Our study aims to identify and evaluate the effect of using ICT infrastructure on economic growth in European Union (EU) countries for a period of 18 years (2000–2017). Using panel-data estimation techniques, we investigate empirically how various indicators of ICT infrastructure affect economic growth, proxied in our study by GDP per capita. Within the estimates, we have included some macroeconomic control variables. Our results indicate a positive and strongly effect of using ICT infrastructure on economic growth in the EU member states, but the magnitude of the effect differs depending on the type of technology examined. Regarding the impact of macroeconomic factors, our estimates indicate that inflation rate, unemployment rate, the degree of trade openness, government expenditures, and foreign direct investments would significantly affect GDP per capita at EU level. The findings are broadly similar to the theoretical predictions, but also to the findings of some relevant empirical studies. Our research reveals that ICT infrastructure, along with other macroeconomic factors, is an important driver of economic growth in EU countries.

scholarly journals Analyzing the Impact of the Renewable Energy Sources on Economic Growth at the EU Level Using an ARDL Model

Mathematics ◽  
2020 ◽  
Vol 8 (8) ◽  
pp. 1367 ◽  
Author(s):  
Mihail Busu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Regression Model ◽  
Negative Impact ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
The European Union ◽  
Causality Analysis ◽  
The Impact ◽  
The Eu

Energy is one of the most important drivers of economic growth, but as the population is increasing, in normal circumstances, in all countries of the world, there is a demand for energy produced from conventional resources. Increasing prices of conventional energy and the negative impact on the environment are two of the main reasons for switching to renewable energy sources (RESs). The aim of the paper is to quantify the impact of the RESs, by type, on the sustainable economic growth at the European Union (EU) level. The research was performed for all 28 EU member states, for a time frame from 2004 to 2017, through a panel autoregressive distributed lag (ARDL) approach and causality analysis. Furthermore, Hausman test was performed on the regression model. By estimating the panel data regression model with random effects, we reveal through our results that RESs, namely wind, solar, biomass, geothermal, and hydropower energy, have a positive influence on economic growth at EU level. Moreover, biomass has the highest impact on economic growth among all RES. In fact, a 1% increase in biomass primary production would impact the economic growth by 0.15%. Based on econometric analysis, our findings suggest that public policies at the EU level should be focused on investment in RESs.

scholarly journals Saving EU digital constitutionalism through the proportionality principle and a transatlantic digital accord

European View ◽  
2021 ◽  
pp. 178168582110555
Author(s):  
Jan Czarnocki
Keyword(s):  
Economic Growth ◽  
Fundamental Rights ◽  
Basic Principles ◽  
Rights Protection ◽  
The Us ◽  
The Right ◽  
The Impact ◽  
Global Influence ◽  
Proportionality Principle ◽  
The Eu

The article explains the importance of the emerging movement for EU digital constitutionalism (EUDC), which reflects a Union-wide effort to address through regulation the challenges posed by digitalisation. The article outlines the core legislative acts that have been introduced by proponents of EUDC. It describes why EUDC is important for fundamental rights protection and European foreign policy, and how the ‘Brussels effect’ extends the impact of EUDC. It enquires into whether EUDC is sustainable, taking into consideration waning EU global influence and the need for economic growth. The EU needs to strike a balance between fundamental rights protection and economic growth. The proportionality principle is the right tool for this. A proportional approach should be followed in establishing a transatlantic digital accord with the US—an agreement on the basic principles governing the digital space. A more proportional approach will pave the way to such an agreement—giving EUDC a global scope.

scholarly journals The Economic Development in the Context of the Development of Foreign Trade in Poland – a Comparison to some EU Countries

2017 ◽  
Vol 17(32) (4) ◽  
pp. 271-279
Author(s):  
Anna Rytko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Foreign Trade ◽  
Test Methods ◽  
Product Diversification ◽  
Indexing Methods ◽  
Eu Countries ◽  
Export Structure ◽  
The Impact ◽  
The Eu

The themes of the impact of foreign trade on economic growth has been repeatedly assumed by investigators and were most often related to various aspects: the openness of the economies, economic prosperity, competitiveness and diversification of export. The objective of the research was the evaluation of changes in economic development and the development of foreign trade in Poland comparing them with the EU and some EU countries. Particular attention was given to the issue of diversification and competitiveness of exports by putting the hypothesis that the greater product diversification of Polish export, the greater its competitiveness, which leads to economic growth. The work uses the following test methods: descriptive methods, statistical methods, the indexing methods of which Indicator of the Absolute Deviations and Revealed Comparative Advantages were calculated. Export diversification can lead to speeding up the pace of economic growth. By analyzing in detail the situations in Poland can conclude that it is advisable to diversify of the export structure.

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