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Special Issue "Resilient Economics and the Regional Sustainable Economic Growth"

A special issue of Sustainability (ISSN 2071-1050).

Deadline for manuscript submissions: closed (27 February 2017)

Special Issue Editors

Guest Editor
Prof. Dr. Michael A. Peters

Professor in Educational Policy, Organization, and Leadership at the University of Illinois at Urbana–Champaign, USA
Website | E-Mail
Phone: +647 8384466
Interests: resilience economics; political economy of forms of the knowledge economy; creative economy; the open knowledge economy
Guest Editor
Prof. Dr. Hershey H. Friedman

Professor of Business Department of Business Management, School of Business, Brooklyn College, 11210, New York, USA
Website | E-Mail
Phone: + 718.951.5000
Interests: business ethics and corporate social responsibility, humor and measurement problems in survey research; green economics
Guest Editor
Prof. Dr. Popescu H. H. Gheorghe

The Doctoral School, Bucharest University of Economic Studies, Piata Romana Square, no.6, 1st District, Bucharest, Romania
Director, Center for Applied Macroeconomic Analysis, American Association for Economic Research, New York
Website | E-Mail
Phone: +40 723 313 111
Interests: macroeconomics; regional economics; resources economics and economic governance; sustainable development
Guest Editor
Dr. Panagiotis Mantalos

Department of Economics and Statistics, Linnaeus University, 351 95 Växjö, Sweden
Website | E-Mail
Phone: +46 470 76 74 52
Interests: microeconomics; green development; monetary economics and finance; statistics
Guest Editor
Prof. Dr. Linda Weiser Friedman

Department of Statistics and Computer Information Systems, Zicklin School of Business, Baruch College, CUNY, Lexington Avenue at East 24th Street, NYC
Website | E-Mail
Phone: + 917 355-2619
Interests: corporate social responsibility; humor studies; statistical design and analysis of simulation experiments; programming languages; quantitative research methods
Guest Editor
Assoc. Prof. Andrei Jean Vasile

Faculty of Economic Sciences, Petroleum-Gas University of Ploiesti, B-dul Bucuresti, No.39,100680, Ploiesti, Prahova, Romania
Website | E-Mail
Interests: sustainable development; green economics and investments; production structures, resource economics, resource productivity

Special Issue Information

Dear Colleagues,

Resilience and the regional sustainable economic growth impact contemporary economies, human society and economic convergence, having lately become a point of discussion in public debates. In recent years, regional sustainable growth has become a major economic issue for numerous countries, which promote resilience as a part of their inland economic policy development.
Resilient economy represents a holistic approach, which includes a wide range of concepts and frameworks that are tightly connected to the progress of human society and economy in general. In this context, developing resilience for assuring regional sustainable economic growth is becoming a useful tool for all countries, which experienced the recent economic and financial crisis.
The main aim of this Special Issue is to review the main influence of resilient economies on assuring regional sustainable economic growth. Starting from the assumption that a resilient economy both assures a high degree of sustainability for each economic system, and that it is decisive to regional development and economic flexibility, supplying a sustainable resource buffer, throughout intervals of reduced regional economic accessibility, this Special Issue tries to point out that a resilient economy could provide good and sustainable regional development growth in terms of competitiveness.
This Special Issue aims to discuss a range of topics, regarding the role of the resilience in assuring regional sustainable economic growth in contemporary economies, regarding the core values of social and circular economy, and the influence of the blue economy paradigm on the regional development of infrastructure from scientific perspectives.  
We invite contributors to submit manuscripts with a high degree of novelty as full-length articles, reviews and conceptual papers, from both theoretical and practical points of view, which focus on the influences of resilience on assuring regional sustainable economic growth. All submissions will be subjected to a rigorous peer-review procedure before publication with the aim of fast dissemination of results.

Prof. PhD Michael A. Peters
Prof. PhD Hershey H. Friedman
Prof. Dr. Popescu H. Gheorghe
PhD Panagiotis Mantalos
Prof. PhD. Linda Weiser Friedman
PhD. Andrei Jean Vasile
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All papers will be peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

•    relative economics
•    ecological economics
•    integrative economic systems
•    resources productivity
•    green infrastructure
•    multifunctional economic systems
•    sustainability perspectives
•    green development

Published Papers (7 papers)

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Research

Open AccessArticle Measuring Sustainable Competitiveness in Contemporary Economies—Insights from European Economy
Sustainability 2017, 9(7), 1230; doi:10.3390/su9071230
Received: 26 February 2017 / Revised: 7 July 2017 / Accepted: 10 July 2017 / Published: 13 July 2017
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Abstract
The recent transformation of the national economies has raised numerous theoretical and practical aspects in measuring economic growth, welfare, environmental performance, and competitiveness, representing a challenging research topic within the context of economic paradigm transformation. Despite its importance, a fully operational model to
[...] Read more.
The recent transformation of the national economies has raised numerous theoretical and practical aspects in measuring economic growth, welfare, environmental performance, and competitiveness, representing a challenging research topic within the context of economic paradigm transformation. Despite its importance, a fully operational model to be used in any context has not yet been designed. The main aim of this paper is to evaluate and analyze the macroeconomic dimension of the three determinants of sustainable competitiveness: the economic environment, the social environment, and the natural environment, at both the European and Romanian levels. This paper used the Hierarchical Clustering methodology, aiming at evaluating the global competitiveness in terms of a sustainable development model, using four indices: Human Development Index, Environmental Performance Index, Global Competitiveness Index, and GDP per capita. The clusters were designed on the basis of the role of the indices in assessment of the sustainable performances of the countries and also of the possible convergences between them. The results could sustain the conclusion that these indices are not able to offer an exhaustive image of the sustainable performances assessment. A new complex indicator could be considered in order to design a convergence model for the EU member states. Full article
(This article belongs to the Special Issue Resilient Economics and the Regional Sustainable Economic Growth)
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Open AccessArticle Stabilizing Valences of an Optimum Monetary Zone in a Resilient Economy—Approaches and Limitations
Sustainability 2017, 9(6), 1051; doi:10.3390/su9061051
Received: 21 February 2017 / Revised: 10 June 2017 / Accepted: 13 June 2017 / Published: 17 June 2017
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Abstract
Following De Grauwe (2016), this research advances the idea according to which economies that are part of a monetary union issue debt in a medium of exchange they cannot control: financial markets develop the capacity to impose default on such economies. We are
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Following De Grauwe (2016), this research advances the idea according to which economies that are part of a monetary union issue debt in a medium of exchange they cannot control: financial markets develop the capacity to impose default on such economies. We are interested in how previous research analyzed the notion that, when economies are autonomous and they employ the exchange rate as a vehicle to handle asymmetric shocks, they confront comparable constraints on the performance of exchange rate strategies. When a monetary union is affected by significant asymmetric shocks, the member economies have to deal with tough adjustment issues. Empirical and secondary data are used to back the assertion that, in a monetary union, economies that are affected by long-lasting asymmetric demand shocks demand wage elasticity and labor flexibility to rectify for them, and if the latter generate substantial budget deficits, financial markets tend to intensify the consequences of the asymmetric shocks, boosting the demand for severe regulation of wages and labor flexibility. Our article makes conceptual and methodological contributions to the view that member economies of a monetary union are exposed to varying market reactions, generating more volatility in the business cycle: an economy undergoing a recession and a rise in the budget deficit might be affected by wide-ranging transactions of its government bonds, causing a liquidity crisis and superior interest rates, and possibly coercing the government of that economy to adopt budgetary austerity measures, thus intensifying the recession. Full article
(This article belongs to the Special Issue Resilient Economics and the Regional Sustainable Economic Growth)
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Open AccessArticle A Cointegration Analysis of Real GDP and CO2 Emissions in Transitional Countries
Sustainability 2017, 9(4), 568; doi:10.3390/su9040568
Received: 14 February 2017 / Revised: 4 April 2017 / Accepted: 6 April 2017 / Published: 8 April 2017
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Abstract
This paper analyses the relationship between real GDP and CO2 emissions for 17 transitional economies based on a series of annual data from 1997 to 2014. The analysis was conducted using Dynamic Ordinary Least Squares (OLS) (DOLS) and Fully Modified OLS (FMOLS)
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This paper analyses the relationship between real GDP and CO2 emissions for 17 transitional economies based on a series of annual data from 1997 to 2014. The analysis was conducted using Dynamic Ordinary Least Squares (OLS) (DOLS) and Fully Modified OLS (FMOLS) approaches. The results clearly suggest the existence of a statistically significant long-run cointegrating relationship between CO2 emissions and real GDP. A 1% change in GDP leads to around a 0.35% change of CO2 emission on average for the considered group of countries. Close values of long-run coefficients for all estimations confirm the robustness of the estimated results. The authors state that transitional economies need to follow global policy incentives, and try to implement new mechanisms and instruments for the purpose of reducing CO2 emissions, such as environmental taxes, emissions-trading schemes, and carbon capture and storage, if they want to achieve future CO2 emission reductions, while attaining economic growth. Full article
(This article belongs to the Special Issue Resilient Economics and the Regional Sustainable Economic Growth)
Open AccessArticle Rural Solid Waste Management in China: Status, Problems and Challenges
Sustainability 2017, 9(4), 506; doi:10.3390/su9040506
Received: 12 February 2017 / Revised: 13 March 2017 / Accepted: 23 March 2017 / Published: 29 March 2017
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Abstract
This paper seeks to describe the overall state of Rural Solid Waste Management (RSWM) in China in three main areas: waste collection services, waste transportation services and waste disposal services. Given China’s urbanization, industrialization, and the subsequent improvement of household living standards, the
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This paper seeks to describe the overall state of Rural Solid Waste Management (RSWM) in China in three main areas: waste collection services, waste transportation services and waste disposal services. Given China’s urbanization, industrialization, and the subsequent improvement of household living standards, the amount of solid waste generated in rural China has increased rapidly. Based on primary data collected in 2016 from 100 villages across five provinces in China, we find that the proportion of villages with waste collection, waste transportation, and waste disposal services in 2015 is 80%, 55% and 22%, respectively. The differences in shares of villages with these services across provinces are statistically significant. Using descriptive and econometric analyses, the authors show that richer villages are more likely to provide rural solid waste (RSW) collection and transportation services. Villages with new (newly elected or appointed) village leaders are more likely to supply RSW disposal services. While the majority of villages report that they offer waste collection services (installing waste collection facilities and employing waste collection workers), the vast majority of villages do not transport their waste to treatment plants. Even fewer villages report using centralized disposal methods to dispose of waste, as required by law or regulation. This study represents the first effort to describe the state and determinants of waste management services in rural China in the wake of increased investment in and new policies regarding RSWM released in 2015. Additionally, we provide evidence-based suggestions that might be useful for policy makers interested in improving RSWM in China. These suggestions include increasing investments in waste collection facilities and worker services; encouraging local residents to classify and recycle waste; designing optimal waste transportation networks and routes; and improving on-site waste disposal technology. Full article
(This article belongs to the Special Issue Resilient Economics and the Regional Sustainable Economic Growth)
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Open AccessArticle Oil Price and Economic Resilience. Romania’s Case
Sustainability 2017, 9(2), 273; doi:10.3390/su9020273
Received: 20 November 2016 / Revised: 5 February 2017 / Accepted: 6 February 2017 / Published: 15 February 2017
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Abstract
The emerging economies that do not face fiscal, monetary and foreign debt pressures can use the savings generated by lower oil prices for investments in order to generate economic growth. Hence, there is no doubt that the oil price affects the economy’s resilience
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The emerging economies that do not face fiscal, monetary and foreign debt pressures can use the savings generated by lower oil prices for investments in order to generate economic growth. Hence, there is no doubt that the oil price affects the economy’s resilience to shocks. The importance of this impact derives from the magnitude of the price change and its diffusion within the economy. Moreover, the sustainability of any company and of the economy as a whole is subject to the availability and the price of the energy resources. The cost of these resources is an important variable used in the majority of the models regarding the assessment of sustainable development. Therefore, this article examines the impact of the oil price changes on industrial production in Romania. We found that, similar to other countries, in Romania, the growth rate of industrial production responds more strongly to a rise in oil prices. Thus, the oil Brent price has an asymmetric effect on the production evolution. This finding suggests that macroeconomic stabilization is more difficult to achieve when the oil price rises. Full article
(This article belongs to the Special Issue Resilient Economics and the Regional Sustainable Economic Growth)
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Open AccessArticle Approaches on Correlation between Board of Directors and Risk Management in Resilient Economies
Sustainability 2017, 9(2), 173; doi:10.3390/su9020173
Received: 23 December 2016 / Revised: 15 January 2017 / Accepted: 22 January 2017 / Published: 25 January 2017
Cited by 1 | PDF Full-text (440 KB) | HTML Full-text | XML Full-text
Abstract
The recent financial crisis highlighted the need for a strong emphasis on the effectiveness of board risk oversight practices. Good corporate governance upholds effective risk management, which in turn ensures the flexibility to reply to unpredicted threats and take benefit of opportunities. Thus,
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The recent financial crisis highlighted the need for a strong emphasis on the effectiveness of board risk oversight practices. Good corporate governance upholds effective risk management, which in turn ensures the flexibility to reply to unpredicted threats and take benefit of opportunities. Thus, risk management affords corporate resilience that engenders competitive advantage due to the capacity to circumvent, deter, defend, react, and adjust to any kind of disturbance, besides recovering quickly. Guaranteeing that the board is prepared and adequately resilient to deal with a crisis circumstance is a crucial part of good governance. By employing a data set of companies listed in Romania, this paper analyzes whether boards of directors influence risk management. We measure boards by means of size, independence, diversity, establishment of Consultative Committees, as well as CEO duality, gender, age, and tenure. Based on ten financial ratios, we develop two risk indicators regarding shareholders’ wealth and short-term risk, alongside a global business failure risk tool, by means of principal component analysis. Furthermore, the output of the multivariate regression analysis show that CEO gender, the size of the board, and Audit Committee negatively influence business failure risk. Full article
(This article belongs to the Special Issue Resilient Economics and the Regional Sustainable Economic Growth)
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Open AccessArticle Rural Economy and Bioethanol Production
Sustainability 2016, 8(11), 1148; doi:10.3390/su8111148
Received: 30 August 2016 / Revised: 16 October 2016 / Accepted: 31 October 2016 / Published: 8 November 2016
Cited by 1 | PDF Full-text (2484 KB) | HTML Full-text | XML Full-text
Abstract
Biofuels are considered part of the potential sources of mitigation for the serious threat of global warming, by reducing human reliance on oil imported from unsafe sources at ever increasing costs. For the classic fuel supplier countries, biofuels are a source for the
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Biofuels are considered part of the potential sources of mitigation for the serious threat of global warming, by reducing human reliance on oil imported from unsafe sources at ever increasing costs. For the classic fuel supplier countries, biofuels are a source for the future, as local materials are used in their production. They generate jobs for the local population and do not require the importation of costly equipment and relevant expertise. A pioneer in the use of biofuels, Brazil has eliminated all oil imports and become energy independent. Recognising the positive effects of biofuel use, the EU and other countries are rapidly developing potential sources of their own biofuels. One of these sources could be agricultural cultures that are able to be developed under optimum conditions by endorsing and using modern and sustainable means and techniques in the rural economy. The sustainable use of the resources and the maintenance of the ecosystems in a good working order claims both the protection of the environment itself and the success of the farmers via the provision of fertility and productivity of the agricultural ecosystems, which will give them the leverage of competitiveness on the market and food safety in the long term. The paper herein intends to point out at a sustainable manner of having the economy’s engine function—i.e., agriculture—by means of advocating for the efficient use of the resources within the farms and their associations, along with the support for the transition to a low-carbon economy, thanks to the progress in the bioethanol production. Full article
(This article belongs to the Special Issue Resilient Economics and the Regional Sustainable Economic Growth)
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