Environmental taxes, environmental policy stringency and policy complementarity: A comprehensive analysis of EU economic and environmental goals

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F60460709%3A41110%2F25%3A106008" target="_blank" >RIV/60460709:41110/25:106008 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.sciencedirect.com/science/article/pii/S1059056025005210" target="_blank" >https://www.sciencedirect.com/science/article/pii/S1059056025005210</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.iref.2025.104358" target="_blank" >10.1016/j.iref.2025.104358</a>

Jazyk výsledku

čeština

Název v původním jazyce

Environmental taxes, environmental policy stringency and policy complementarity: A comprehensive analysis of EU economic and environmental goals

Popis výsledku v původním jazyce

Triple dividend is an important concept which connects socio-economic targets, such as economic growth and employment, with ambitious environmental targets for achieving sustainable development. In this framework, this paper investigates the efficiency of using monetary and fiscal tools for supporting economic growth and reducing unemployment and greenhouse gas (GHG) in the European Union based on 1995-2022 data. The results of the Method of Moment Quantile Regression (MMQR) analysis show that financial development, trade openness and environmental policy stringency reduce unemployment, promote economic growth, and protect environmental goals. In comparison, inflation is not efficient for fighting against unemployment increases and is not significant for achieving a robust economic growth rate. Total environmental, energy and transport taxes are efficient only for reducing unemployment and increasing gross domestic product (GDP) growth. However, at a high level of environmental taxation, GDP decreases. Total environmental taxes are not efficient for reducing GHGs on a solid basis. The results suggest that neither fiscal instruments, such as environmental taxation, nor monetary policy tools, such as interest rate adjustments, are independently sufficient to achieve the environmental, economic, and employment objectives outlined in the triple dividend theory, highlighting the need for a more integrated and comprehensive policy approach. In contrast, strict environmental regulations, along with well-developed financial systems and robust international trade performance have proven more effective. Therefore, policymakers should prioritize these three areas to promote long-term sustainable development within the EU region.

Název v anglickém jazyce

Environmental taxes, environmental policy stringency and policy complementarity: A comprehensive analysis of EU economic and environmental goals

Popis výsledku anglicky

Triple dividend is an important concept which connects socio-economic targets, such as economic growth and employment, with ambitious environmental targets for achieving sustainable development. In this framework, this paper investigates the efficiency of using monetary and fiscal tools for supporting economic growth and reducing unemployment and greenhouse gas (GHG) in the European Union based on 1995-2022 data. The results of the Method of Moment Quantile Regression (MMQR) analysis show that financial development, trade openness and environmental policy stringency reduce unemployment, promote economic growth, and protect environmental goals. In comparison, inflation is not efficient for fighting against unemployment increases and is not significant for achieving a robust economic growth rate. Total environmental, energy and transport taxes are efficient only for reducing unemployment and increasing gross domestic product (GDP) growth. However, at a high level of environmental taxation, GDP decreases. Total environmental taxes are not efficient for reducing GHGs on a solid basis. The results suggest that neither fiscal instruments, such as environmental taxation, nor monetary policy tools, such as interest rate adjustments, are independently sufficient to achieve the environmental, economic, and employment objectives outlined in the triple dividend theory, highlighting the need for a more integrated and comprehensive policy approach. In contrast, strict environmental regulations, along with well-developed financial systems and robust international trade performance have proven more effective. Therefore, policymakers should prioritize these three areas to promote long-term sustainable development within the EU region.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Review of Economics & Finance

ISSN

1059-0560

e-ISSN

1059-0560

Svazek periodika

103

Číslo periodika v rámci svazku

neuvedeno

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

20

Strana od-do

—

Kód UT WoS článku

001533686300002

EID výsledku v databázi Scopus

2-s2.0-105010608766