Central European sustainable economy: The role of green finance, technological innovation, and circular economy

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dc.contributor.authorKwabena Nsiah, Takyi
dc.contributor.authorNuta, Alina Cristina
dc.contributor.authorGavurova, Beata
dc.contributor.authorOfori, Charles
dc.contributor.authorPuime-Guillen, Felix
dc.contributor.otherEkonomická fakultacs
dc.date.accessioned2025-09-03T08:44:53Z
dc.date.available2025-09-03T08:44:53Z
dc.description.abstractThe European Green Deal has clarified the need to evaluate the factors affecting the ecological footprint and find strategies to reduce their impact. The study evaluates the correlation between green finance, technological innovation, circular economy, urbanization, energy consumption, economic progress, and ecological footprint. It analyzes data from Central European communities from 1990 to 2022, using robust econometric evaluations, including common correlated effect mean group (CCEMG) and augmented mean group (AMG) models, along with an initial examination of cross-sectional dependence, unit roots, cointegration, and slope heterogeneity. The findings highlight that a reduction in ecological footprints can be achieved through technological innovation, green finance, and a circular economy. In contrast, energy consumption, urbanization, and economic development tend to increase the ecological footprint. Advanced models such as fully modified ordinary least square (FMOLS) and Driscoll and Kraay (DSK) support these findings. The causality analysis revealed the unidirectional and bidirectional relationship between variables. Based on these outcomes, the study recommends that Central European countries implement suitable policies to push the transition toward a sustainable economy.en
dc.formattext
dc.identifier.doi10.15240/tul/001/2025-3-003
dc.identifier.eissn2336-5604
dc.identifier.issn1212-3609
dc.identifier.urihttps://dspace.tul.cz/handle/15240/177919
dc.language.isoen
dc.publisherTechnická Univerzita v Libercics
dc.publisherTechnical university of Liberec, Czech Republicen
dc.publisher.abbreviationTUL
dc.relation.ispartofEkonomie a Managementcs
dc.relation.ispartofEconomics and Managementen
dc.relation.isrefereedtrue
dc.rightsCC BY-NC
dc.subjectGreen financeen
dc.subjecttechnological innovationen
dc.subjectcircular economyen
dc.subjecturbanizationen
dc.subjecteconomic progressen
dc.subjectCentral Europeen
dc.subject.classificationQ01
dc.subject.classificationQ30
dc.subject.classificationQ40
dc.subject.classificationQ55
dc.titleCentral European sustainable economy: The role of green finance, technological innovation, and circular economyen
dc.typeArticleen
local.accessopen
local.citation.epage49
local.citation.spage32
local.facultyFaculty of Economics
local.filenameEM_3_2025_3
local.fulltextyes
local.relation.abbreviationE+Mcs
local.relation.abbreviationE&Men
local.relation.issue3
local.relation.volume28
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