Financial Innovation Management: Impact of Fiscal Decentralization on Economic Growth of the Baltic Countries

Slavinskaitė, Neringa; Lapinskienė, Giedrė; Hlawiczka, Roman; Васа, Ласзло

doi:10.21272/mmi.2022.1-19

Cited by 6 publications

(3 citation statements)

References 65 publications

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“…Global transformation requires a significant scale of state support for the energy sector, the creation of clusters of companies in the field of renewable energy, and the involvement of international donors and public-private partnership programs [46]. In the cases of implementation of complex projects related to renewable energy production, only direct state support can be a guarantee of ecological development, given the insufficient financial resources of individual regions or companies [47]. It was previously empirically confirmed that the strategy of financial support for the development of renewable energy must consider the energy needs of the territory, its natural and resource base, and the installed capacity of renewable energy facilities and their economic potential [48].…”

Section: Literature Reviewmentioning

confidence: 99%

Applying Energy Taxes to Promote a Clean, Sustainable and Secure Energy System: Finding the Preferable Approaches

et al. 2023

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The growing importance of climate change and the depletion of natural resources, as well as geopolitical risks associated with the distribution of energy resources, cause an increase in the urgency of ensuring energy security. In modern conditions, the criteria of energy security are the level of production of traditional and renewable energy, the efficiency of energy production, the rationality of its consumption, and the level of pollution arising in the process of the functioning of the energy sector. Different types of regulatory instruments are used internationally to achieve different goals related to energy security. This study involves testing the hypothesis that the effectiveness of energy taxes in ensuring energy security is determined based on the choice of the object of taxation and should be measured via the complex effect of changes in various parameters of energy security. To test this hypothesis, a sample of data from 24 European countries for the period 1994–2020 was formed and energy taxes were grouped into 12 groups (energy taxes on the consumption of different energy sources, energy taxes on fossil fuels, taxes on electricity consumption, taxes to stimulate renewable energy production, contributions to energy funds, etc.). The assessment was carried out with the help of panel regression modeling tools with the installation of a three-year time lag in the model. This method made it possible to determine the short- and medium-term effects of the regulatory influence of certain types of energy taxes. Moreover, the research provides an assessment of the regulatory effectiveness of various types of energy taxes across countries with different initial structures of energy production. The obtained results proved that the comprehensive efficiency of different types of energy taxes is different and depends on the features of the construction of the country’s energy system. In general, complex energy taxes are the most effective method of taxation, while contributions to energy funds are the least effective method of taxation. In the countries with energy systems based on fossil fuels, taxes on mineral oils are the most effective in ensuring of energy security, as well as in the countries with a high initial level of renewable energy use, while complex energy taxes are the most effective in the countries with well-diversified energy systems. This study creates the basis for improving strategies for the use of regulatory instruments of energy transformation in building a clean, secure, and sustainable energy system for the country.

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Section: Literature Reviewmentioning

confidence: 99%

Applying Energy Taxes to Promote a Clean, Sustainable and Secure Energy System: Finding the Preferable Approaches

et al. 2023

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“…The implementation of eco-innovation in eco-organizations includes co-training programs, eco-product design programs, the introduction of eco-learning techniques, the creation of management teams to deal with eco-issues, and eco-management systems [13][14][15].…”

Section: Introductionmentioning

confidence: 99%

Eco-innovation influence on business performance in Jordanian micro, small and medium enterprises operating in the food processing sector

et al. 2023

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Innovative performance is a fundamental asset for building competitive advantage of micro, small and medium enterprises MSMEs. This research empirically examines the direct and indirect relationship between eco-innovation and business performance in Jordanian MSMEs enterprises working in the food processing sector. This research draws on the resource-based view theory to investigate the inter-relationships among three types of eco-innovation (process, product, organizational) and their relative impact on business performance. Furthermore, the researchers used structural equation modelling of 86 samples collected from Jordanian MSMEs operating in the food processing sector. The major contribution of this research is providing a holistic view that explains the inter-relationship among eco-process, eco-product, and eco-organizational innovation. The research reveals the impact of eco-innovation variables on business performance. The greatest is the impact of eco-process on business performance followed by eco-product and eco-organizational respectively. Regarding the effect of eco-organizational and eco-process innovation on eco-product, the findings of the study showed that the greatest is the effect of eco-organizational followed by eco-process. According to the post hoc, the mean differences show that there is statically significant difference in the responses of the respondents towards eco- process regarding different organization age.

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“…In part, this happened because by solving these problems the countries can provide their national economies with their own financial resources, obtain additional income from the export of financial resources to other countries, and counter the threats of global financial risks. This is evidenced by the increase in the number of strategic plans for the financial development of countries [ 1 – 13 ] and the number of scientific publications [ 14 – 29 ] on this topic. However, an analysis of strategic plans shows that their main goal is to develop the financial sector of national economies without taking into account the systemic risks of this development.…”

Section: Introductionmentioning

confidence: 99%

Stability of financial development: Problems of measurement, assessment and regulation

Господарчук

Zeleneva

2022

PLoS ONE

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Adequate measurement, assessment, and regulation of financial development stability are key components, the formation of effective macroprudential policies, and the coordination of these policies among countries. However, an analysis materials on the subject shows that work in this area is fragmented,. In this regard, the purpose of this study is to develop a methodology for diagnosing and regulating the stability of financial development based on a systematic approach. The study used systematic, comparative, and GEO analysis, econometric methods. As a result, new indicators have been developed to diagnose the financial development of countries. The authors also propose criteria, which could be used to signal the need for countercyclical regulation tools. The novelty of the study lies in a systematic approach to the diagnosis and regulation of the stability of financial development. The systemic nature of the study is ensured by the application of the statistical framework of the System of National Accounts. Testing of the developed indicators and criteria was carried out in relation to the OECD+ (Organisation for Economic Co-operation and Development) countries for the period 2007–2020. As a result of the testing, a rating of countries was built according to the level of stability of financial development. This rating highlighted leading countries as well as countries generating systemic risks. The study also assessed the legal grounds behind the introduction of a countercyclical markup by a number of countries. The new diagnostic and regulatory system has a number of advantage—it is highly representative and objective by nature, and has a wide range of applications. The use of this system will improve the complexity and quality of diagnosing and regulating the stability of financial development at the national and global levels, as well as increase the effectiveness of public decision-making.

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Financial Innovation Management: Impact of Fiscal Decentralization on Economic Growth of the Baltic Countries

Cited by 6 publications

References 65 publications

Applying Energy Taxes to Promote a Clean, Sustainable and Secure Energy System: Finding the Preferable Approaches

Applying Energy Taxes to Promote a Clean, Sustainable and Secure Energy System: Finding the Preferable Approaches

Eco-innovation influence on business performance in Jordanian micro, small and medium enterprises operating in the food processing sector

Stability of financial development: Problems of measurement, assessment and regulation

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