Asymmetricity in the Effect of Economic and Environmental Factors on Social Sustainability: Empirical Evidence from Eastern European Economies using Dynamic Analysis with CCEMG & D-H Causality Approaches

Kwaku Addai, Berna Serener, Dervis Kirikkaleli
International Journal of Finance, Insurance and Risk Management, Volume 12, Issue 3, 75-93, 2022
DOI: 10.35808/ijfirm/296


Purpose: This study explores asymmetricity in the effect of economic and environmental factors on social sustainability with empirical evidence from Eastern European economies using a dynamic analysis with CCEMG & D-H causality approaches. Design/Methodology/Approach: Data for this study was purposefully sampled from nine (9) Eastern European economies between 1998Q4 and 2017Q4. Empirical weakness of nascent studies on carbon dioxide emissions, economic growth and increasing poverty call for the need for a dynamic analysis. Findings: Outcomes affirm, (ii) Economic sustainability, regulatory quality as well as R&D exert positive impact on social capital. (ii) CO2 emissions has significant negative effects on social sustainability. Practical implications: These outcomes provide significant insights for global rethinking on social sustainability, especially on its relationship with environmental sustainability.

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