An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: the case of Centra
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An impact of macroeconomic stabilization on the sustainable development of manufacturing enterprises: the case of Central and Eastern European Countries Aleksandra Pieloch‑Babiarz1 · Anna Misztal1 · Magdalena Kowalska1 Received: 16 December 2019 / Accepted: 15 September 2020 © The Author(s) 2020
Abstract Sustainable development is a socioeconomic development that respects environmental protection. It can be analyzed at a macro- and microscale. The goals of sustainable development are realized by ordinary people, politicians, organizations, and enterprises. At the enterprise level, sustainable development means an improvement in quantitative and qualitative conditions of running a business, the use of pro-ecological standards and solutions, and support of employee development. The sustainable development of enterprises depends on several factors, including macroeconomic conditions. The main aim of this paper is to show the impact of the macroeconomic stabilization on the sustainable development of the manufacturing enterprises in the Central and Eastern European Countries (CEECs). We examine only the CEECs which are the members of the European Union. Considering this, we focus on the eleven counties (i.e., Bulgaria, Croatia, Czechia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, the Slovak Republic, and Slovenia) in the period from 2008 to 2018. The main hypothesis is formulated as follows: Macroeconomic stabilization has a statistically significant impact on the sustainable development of manufacturing enterprises in the period from 2008 to 2018. The results of the study indicate that in all analyzed countries there is a statistically significant relationship between the indicator of sustainable development (SISDE) and the indicator of macroeconomic stabilization. The highest level of correlation was observed in Czechia, Poland, and Hungary, while the lowest in Estonia. Keywords Sustainable development · Macroeconomic stabilization · Manufacturing enterprises
* Anna Misztal [email protected] Aleksandra Pieloch‑Babiarz [email protected] Magdalena Kowalska [email protected] 1
Department of Economics and Sociology, University of Lodz, Lodz, Poland
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1 Introduction Sustainable development is a socio-economic development that takes into account issues related to the protection of the environment. The overall and essential goal of this concept is the long-term stability of the economy and environment. The sustainable development “meets the needs of the present, without compromising the ability of future generations to meet their own needs” (Report of the World Commission On Environment and Development: Our common feature). It is a complex and multidimensional category that requires a comprehensive approach. It can be analyzed at a macro- and microscale. The goals of sustainable development are realized by ordinary people, politicians, organizations, and enterprises. The sustainable development of enterprises means an
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