Fiscal Sustainability to Sustainable Economic Development in the Era of Digital Transformation
Fiscal Sustainability to Sustainable Economic Development in the Era of Digital Transformation

Author(s): Emilia Mioara Câmpeanu
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Sociology, Economic policy, Developing nations, Economic development, EU-Approach / EU-Accession / EU-Development, Fiscal Politics / Budgeting, ICT Information and Communications Technologies, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: fiscal sustainability; sustainable development; digital transformation; climate change; governance; EU countries
Summary/Abstract: Countries are thrust into a quadruple transition to revision of the economy by enhancing a more competitive, sustainable, inclusive, and resilient society. In this context, the paper aims to investigate how fiscal sustainability induces sustainable economic development while considering the impact of digital transformation and climate challenges for 27 countries in the European Union (EU). The novelty approach involving data covering multidimensional facets of the quadruple transition and panel regressions brings new perspectives and approaches for sustainable economic development of EU contributing to knowledge creation. The research findings highlighted that the less fiscal policy is sustainable, the more sustainable development is affected with a pronounced reaction due to short-term sustainability issues, while digitalisation, climate change, trade openness and some socio- and governance variables are engine for sustainable development.

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