Η σχέση της οικονομικής ανάπτυξης, τριών χωρών, με δείκτες ESG

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Keywords
Δείκτες ESG ; Οικονομική ανάπτυξη ; Κίνδυνος φτώχειας ; Ανάλυση πάνελ ; Θεσμικές επιπτώσειςAbstract
The paper examines how the economic development was related to the main socio-economic indicators related to the ESG framework in three European nations, namely Germany, Greece and Italy. The study analyses the effect of GDP per capita, population dynamics and unemployment on poverty risk and PPP-adjusted income using multiple linear regressions on each country and a panel-data analysis with fixed effects. The results indicate that despite the high explanatory power of the models, most of the macroeconomic variables do not have statistically significant effect on poverty risk when discussed separately. The result highlights the predominant nature of structural, institutional and governance-related features in determining social vulnerability in accordance with theoretical interpretations that lay primary emphasis on the institutional entrenchment of the S component of ESG. On the other hand, the relationship between GDP per capita and PPP-adjusted income is invariably strong and positive, which supports the theoretical idea that income indicators adjusted to purchase power are able to trace the underlying economic performance. The panel analysis also reveals that country-specific fixed effects are very important in improving the capacity of explanation, which implies that even macroeconomic indicators cannot completely explain the cross-national differences. These findings underscore the significance of combining institutional quality, social-policy design and demographic structures in the determination of the interaction between sustainability indicators and economic development.


