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Title: SUSTAINABLE ECONOMIC GROWTH 2020: NORDIC AND BALTIC STATES: EMPIRICAL ASSESSMENT
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SUSTAINABLE ECONOMIC GROWTH 2020: NORDIC AND BALTIC STATES: EMPIRICAL ASSESSMENT
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1314-2704
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English
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20
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5.2
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Climate change, Paris agreement and following strategies for sustainable environment are key direction in 21st century, in order to have an environment and economy to live in for this and next generations. This topic is on the agenda of several high-level task forces at United Nations (UN) and the European Commission (EC). While some definitions and terms are still blurred and unclear, there are already several measurement indicators, which are monitored. One of 17 UN sustainable development growth (SDG) goals, number eight is: decent work and economic growth. These indicators are already compiled based on the country, while an underlying factor influencing them, that is capital and financial market still needs to be assessed. It can either accelerate or slow the SDG goals. Main aim of this research is to empirically assess macroeconomic, as well as financial market and SDG goal number eight interrelation in the EU Nordic and Baltic countries. Authors analysed key macroeconomic and financial system indicators against the main required indicators by UN SDG goal eight. Regression, correlation and time series analysis were performed in order to determine Nordic and Baltic States current and historical development trends, as well as how comparable are their results when evaluating against main UN indicators for sustainable economic development goal eight. The research results, allowed to determine that in Baltic countries, especially in Latvia, there is difficulty observed with bank lending development during 2004-2018, which could be the reason for slowing down of access to funding by households, companies and economy in general and growth thereof. Recommendation has been put forward by authors to legislators and economists based on this analysis, to show where impact and additional analysis need to be focused, in order to achieve this goal and improve performance in particular region.
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conference
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20th International Multidisciplinary Scientific GeoConference SGEM 2020
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20th International Multidisciplinary Scientific GeoConference SGEM 2020, 18 - 24 August, 2020
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Proceedings Paper
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STEF92 Technology
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International Multidisciplinary Scientific GeoConference-SGEM
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SWS Scholarly Society; Acad Sci Czech Republ; Latvian Acad Sci; Polish Acad Sci; Russian Acad Sci; Serbian Acad Sci & Arts; Natl Acad Sci Ukraine; Natl Acad Sci Armenia; Sci Council Japan; European Acad Sci, Arts & Letters; Acad Fine Arts Zagreb Croatia; C
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497-506
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18 - 24 August, 2020
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website
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cdrom
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7458
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sustainable economy; financial market; Nordic and Baltic countries.
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