CORRELATIONS BETWEEN INSTITUTIONAL-POLITICAL GOVERNANCE AND ECONOMIC GOVERNANCE IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT
Abstract
In this paper, sustainable development is defined as an undisturbed process of steady growth within four areas. These areas are also referred to as governances: environmental,
social, economic and institutional-political. When searching for factors stimulating sustainable development, it is important to identify correlations between individual governances.
Data for the study were retrieved from the Eurostat website. Variables were assigned to individual governances and divided into stimuli and inhibitors according to the description
of variables provided by Eurostat. The collected data was used to determine the synthetic measure of economic governance and synthetic measures for groups of variables defining
institutional-political governance. Hellwig’s taxonomic measure was used as the research tool. This study made it possible to determine the econometric model indicating statistically
significant correlations for two groups of variables selected from among five groups characteristic of institutional-political governance. The group of characteristics relating
to coherence and efficiency policy and the group describing civil society (openness, participation and active citizenship) showed a statistically significant and positive direction of impact
on economic governance in the analysed period.
Keywords
economic governance; institutional-political governance; sustainable development; synthetic measure
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