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2023 | Book

Quantitative Methods in Finance

Exploring the Drivers of Sustainable Economic Growth in the EU

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About this book

This book explores certain social and environmental drivers of sustainable economic growth for European Union countries (EU-27) and United Kingdom (UK) in the context of the UN 2030 Agenda for Sustainable Development. The author provides a comprehensive overview of the factors that impact and facilitate sustainable economic growth and discusses the complex set of factors involved in sustainable economic development. Special attention is given to quantitative frameworks and empirical modelling, with the main focus on panel data regression models and vector error correction model approach. Furthermore, the book develops ratings of sustainable economic growth for each of the explored countries, by employing data mining techniques such as principal component analysis. Also, the data envelopment analysis non-parametric methodology towards assessing sustainable economic growth is investigated, as well as the cluster analysis in order to classify the selected nations according to sustainable economic growth. The book appeals to policy-makers and academics targeting to learn more about the characteristics of sustainable economic growth.

Table of Contents

Frontmatter
Chapter 1. Related Literature: Focus on Sustainable Economic Growth
Abstract
The complex set of factors involved in sustainable development will be explored during the course of this chapter.
Ştefan Cristian Gherghina
Chapter 2. A Panel Data Regression Approach Towards the Drivers of Sustainable Economic Growth
Abstract
The current chapter discusses the variables employed, the data sources, as well as the quantitative framework. Therewith, statistical facts regarding sustainable development goals, alongside the outcomes of the quantitative modeling are presented throughout this chapter.
Ştefan Cristian Gherghina
Chapter 3. A Vector Error Correction Model (VECM) Approach
Abstract
The current chapter adopts the vector error correction model (VECM) technique, complemented by impulse response functions and variance decomposition, to investigate the causal relationships between sustainable development goals and gross domestic product per capita.
Ştefan Cristian Gherghina
Chapter 4. A Principal Component Analysis Approach Towards Assessing Sustainable Economic Growth
Abstract
Developing an aggregate indicator to assess the sustainable development of the EU-27 countries and the United Kingdom is the main objective of this chapter. Furthermore, the association between the developed indicator and the gross domestic product per capita is discussed in the course of this chapter.
Ştefan Cristian Gherghina
Chapter 5. A Data Envelopment Analysis Approach Towards Evaluating Sustainable Economic Growth
Abstract
The United Kingdom and the EU-27 nations’ sustainable development is evaluated in the present chapter using the data envelopment analysis method.
Ştefan Cristian Gherghina
Chapter 6. A Cluster Analysis Towards Exploring Sustainable Economic Growth
Abstract
The EU-27 nations and the United Kingdom are classified in the present chapter based on their ability to achieve sustainable economic growth using a cluster analysis.
Ştefan Cristian Gherghina
Backmatter
Metadata
Title
Quantitative Methods in Finance
Author
Ştefan Cristian Gherghina
Copyright Year
2023
Electronic ISBN
978-3-031-43864-6
Print ISBN
978-3-031-43863-9
DOI
https://doi.org/10.1007/978-3-031-43864-6