6 research outputs found

    An Assessment of the Immigration Impact on the International Housing Price

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    The article highlights the correlation between the evolution of the housing price, as measured by House Price Index, the flow of immigrants and other macroeconomic variables for a sample of 21 representative countries for the period 2007-2014. The proposed model explains and highlights the existence of a positive link between the House Price Index evolution and the flow of immigrants, market capitalization share to Gross Domestic Product and the growth rate of the economy. The novelty of this study is derived from the use of panel data models, the results indicating that for one percent increase in immigration (measured by the flow of immigrants), the housing price changes, in the same way, by 0.045%. It confirms the existence of a positive link, although not significant to the level of the housing price. The article is divided into four parts: the first part explains the choice of this topic; the second part presents an overview of the main ideas that are found in the literature; the third part presents the methodology and models applied to identify the immigration impact on the housing price and the fourth part contains conclusions, test limits and future research directions

    Analyzing the Market Concentration of the Romanian Capital Market

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    The market concentration is an important issue for the competition and supervision authorities, as they are entitled to find the proper measures assuring the stability and fair competition of the markets. In this article, we analyze the market concentration of the Romanian capital market, using the market share of every intermediary, for the 2007-2014 time period. We compute the concentration ratios for the first 4 and 8 largest intermediaries, finding that the Romanian capital market is not concentrated. But the recent trends show early phases of concentration, as the number of brokerage houses decline and the trading activity become concentrated in the first 8 brokerage houses

    Assessment of the Circular Economy’s Impact in the EU Economic Growth

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    Starting from the significant differences between the European Union’s member states regarding framing and implementing the sustainable development strategies and the transition from linear economy towards circular economy (European Commission, 2017a), the article analyses the impact that circular economy indicators, such as the recycling rate of municipal waste, packaging waste and bio-waste, the expenditure on research and development to find solutions to extend the life cycle of materials and reusing waste, as well as the environmental taxes have on the resource productivity and real economic growth. Using these correlations, we consider that the transition from the linear economic model to the circular economic model has positive effects, as proven by this study. The proposed model uses data for the 28 member states of the European Union, in the 2005-2016 time frame. The novelty of this study lies in using a data panel model for estimating the impact that the measures associated with the circular economy have on the resource productivity and economic growth. The obtained results show that the resource productivity improves by 0.01307 considering one percent increase in the recycling rate of the municipal waste, by 0.159988 if the research and innovation as percentage in the GDP increases by one percent and by 0.068711 when the number of patents in the EU (as for 1 million inhabitants) increases by one unit. All these values stress out the positive effects the circular economy model may have on the society’s sustainable development

    Assessing the Impact of ICT Sector on Sustainable Development in the European Union: An Empirical Analysis Using Panel Data

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    Information and communication technologies (ICT) play a central role at the European level because it fosters innovation and increases productivity through an enlarged access to information. As such, the main objective of this work was to assess the impact of various ICT core indicators at the European Union level on two of their sustainable development goals: economic growth and reduction of inequality. To this purpose, we used panel data models based on data collected from the Eurostat database. We proposed two panel data regression models, according to which we found a positive statistically significant relationship between the variable measuring level of internet access and change in GDP per capita. We also found a negative relationship between the transition towards a digital society and the dependent variable INEQ_INC, namely an increase of 1% of ICT sector share in GDP will lead to a decrease of 0.27% of income inequality distribution. This result showed that the progress made in implementing a digital society may decrease societal income inequality

    Organic versus Conventional Farming—A Paradigm for the Sustainable Development of the European Countries

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    Although organic farming is an important topic for society, at the European level there have been few achievements so far. Despite its constant increase, the demand for organic food in Europe is outweighing the development of this sector. As such, we aim to assess the interaction between conventional and organic agriculture, as well as their impact on the value of agricultural production at the European level. The main objective of this article is the assessment of the impact of organic farming, as compared with conventional agriculture, on sustainable development of European countries. Therefore, we used panel models based on data collected from the Eurostat database. We found that an increase of 1% of the organic farming areas will generate a contraction in agricultural production of 0.278%, whereas a 1% increase in the production of fertilizers would generate an increase of 0.260% in agriculture production. Moreover, an increase of 1% in the production of plant protection substances and in gross capital formation would generate increases of 0.1190% and 0.0933%, respectively, in agriculture production. The obtained results depend mainly on the characteristics of work on land, as some agricultural engineering methods (crop rotation, pest control, use of fertilizers etc.) influence productivity and production
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