Description
Title: An Approach to the Economic Dimension and Environmental Impact of the Intra-EU Value Chain
Abstract: Input-output analysis will be used in this paper to examine the economic impact and environmental effects of value-added production within the EU that is connected to global value chains (GVCs). For this purpose, data from the TiVA (Trade in Value Added, OECD) and Eora databases for the years 2005 and 2015 have been gathered. The outcomes suggest a strengthening of the value added produced within Factory Europe from an economic perspective. In terms of intensity-emissions, all EU28 members have decreased their export-related impacts, though not all of them to the same extent. Using a panel data model, an approach to the environmental Kuznets curve (EKC) has also been conducted. The findings indicate a beneficial effect of Factory Europe participation on CO2 emissions per capita. For the years 2005 to 2015, an inverted U-shaped curve for CO2 emissions is also discovered. In this regard, the more developed European economies appear to be on the decreasing segment of the curve, while those with lower levels of development (many Eastern and Southern countries) appear to be still on the rising segment. These findings demonstrate the necessity of developing global mechanisms for monitoring and prevention in order to address the escalating environmental problems as well as the requirement to include particular GVCs activity-related actions.
Keywords: EU28; intra-EU trade; global value chains; environmental impact; Factory Europe; environmental Kuznets curve; pollution haven hypothesis; circular economy
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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