Search Results (138)

This article addresses the role of human capital in socio-economic development processes during Europe’s energy transition. The main empirical objectives are firstly to diagnose the overall level of human capital in the energy transition economy based on the original synthetic measure, HCIe, and secondly to analyse and assess the variation in its spatial distribution across the European socio-economic landscape, which serves as a foundation for developing a targeted policy typology directly linked to the identified cluster profiles and their specific weaknesses. The general research question is: what is the level and degree of variation in the internal structure of human capital across the European socio-economic landscape? What actions should individual European countries take to support the development of human capital in the context of the energy transition? The research concept adopted also raises additional questions. Firstly, how can the importance of human capital be captured in an economy undergoing an energy transition? Secondly, are there appropriate indicators for measuring this based on the adopted research approach? European countries were selected as the subjects of the study. In the empirical section, taxonomic methods were employed to develop a proprietary synthetic measure of human capital in a transforming energy economy (HCIe), which was then used for the hierarchical classification of entities. The internal structure of human capital was explored using multi-criteria cluster analysis with the k-means algorithm. This approach resulted in a non-hierarchical classification of entities (typologisation). The main data sources used to construct the synthetic measures were international databases: IRENA, OECD, EUROSTAT, and the World Bank. Analysis of the HCIe measure and the clustering of European countries revealed that the key risk factor for transformation is the absence of integrated human capital within individual groups of countries. This highlights the urgent need for targeted investment in health and the development of systemic and green competencies. Full article

Background/Objectives: This research aims to offer significant insights into the prospective application of bioactive hydrogels composed of alginate, gelatin, and grape skin extract from Serbia (GSE) for treating diabetic wounds, supporting the circular economy and environmental protection. Methods: An acute dermal irritation study was conducted according to OECD guidelines, revealing no visible signs of erythema or edema, confirming the hydrogel’s dermal safety. Afterwards, male Wistar rats were divided into four groups: untreated control (NC), silver sulfadiazine-treated (PC), hydrogel without extract (HG), and hydrogel with GSE (HG + GSE). Wound healing was assessed through a comprehensive approach that included macroscopic wound contraction; biochemical assessment of hydroxyproline content and oxidative stress markers (TBARS, SOD, CAT, GSH); quantification of inflammatory cytokines (TNF-α, IL-6); and histological examination of skin samples using hematoxylin–eosin (H&E) and Masson’s trichrome staining. Results: Daily HG+GSE application over 15 days accelerated wound closure, reaching 99.3% by day 15, surpassing PC (91.2%) and HG (87.7 ± 2.1%). Hydroxyproline levels followed a treatment-dependent pattern, with HG+GSE achieving the highest values throughout, reaching 6.78 ± 0.1 µg/mg dry tissue by day 15—more than double NC. The HG+GSE reduced lipid peroxidation while enhancing enzymatic and non-enzymatic antioxidant defenses and markedly lowered pro-inflammatory cytokine levels, indicating systemic anti-inflammatory activity. Histological analysis revealed faster re-epithelialization, increased collagen deposition, and more organized tissue architecture in the HG+GSE group. These outcomes are attributed to the sustained release of bioactive polyphenols such as naringin, caffeic acid, and epicatechin. Conclusions: Overall, this GSE-based hydrogel presents a multifunctional, biocompatible, sustainable, and effective strategy for diabetic wound care. Full article

This entry examines how wage-setting institutions (WSIs) shape wages across advanced economies. It focuses on four core mechanisms—minimum wages, collective bargaining, wage coordination, and wage centralization—drawing on theoretical insights, empirical evidence, and cross-country comparisons. The analysis shows that minimum wages safeguard low-paid workers but have heterogeneous employment effects depending on their level and enforcement. Collective bargaining raises average wages and compresses wage inequality, though it can reduce flexibility and create insider–outsider dynamics. Wage coordination stabilizes wage growth, prevents inflationary spirals, and fosters equity, while wage centralization promotes solidarity wages and macroeconomic discipline but may limit adaptability. Using The Organization for Economic Co-operation and Development (OECD) and Institutional Characteristics of Trade Unions, Wage Setting, State Intervention and Social Pacts (ICTWSS) data, the study highlights institutional diversity, ranging from coordinated Nordic models to fragmented liberal systems, and identifies trends toward “organized decentralization”. Policy implications suggest that WSIs should be viewed not as rigidities but as adaptable frameworks that can balance efficiency, equity, and stability when carefully designed. The conclusion emphasizes that the future of wage-setting lies in leveraging institutional complementarities to respond to globalization, technological change, and shifting labor market conditions. Full article

Energy efficiency presents significant potential, especially for Western Balkan (WB) countries, if effectively addressed through energy efficiency measures. The building sector, which includes residential, commercial, and public buildings, is the most energy-intensive sector globally. Public buildings in the Western Balkan countries are characterized by poor energy efficiency performance. The average energy consumption in public buildings is anticipated to exceed double the European Union (EU) requirement, given that more than 60-70% of these structures were built over 60 years ago with no regard for energy efficiency. This study assesses the Public Building–Energy Efficiency Readiness Index (PB-EERI) to evaluate how legislative specificity, institutional capacity, financing mechanisms, renovation guidelines, energy market conditions, and societal awareness collectively influence the readiness of Western Balkan economies to enhance energy efficiency in public buildings. The index serves as an operational diagnostic to identify the presence of enabling conditions, determine the most significant gaps, and prioritize policy efforts accordingly. This study presents a novel approach by integrating, within a single transparent index, (i) the existence of energy laws, (ii) market feasibility, (iii) renovation needs of public buildings, and (iv) societal awareness. The awareness pillar is both central and novel. By utilizing harmonized Regional Cooperation Council (RCC) data, this article quantifies societal awareness, thereby ensuring that the index accurately reflects the importance of stakeholder comprehension in the success of renovating initiatives for public buildings. The theoretical framework derives from the application of composite indicators in numerous studies and reports to illustrate the status of energy or energy efficiency. The methodology for developing this indicator is derived from the Organization for Economic Co-operation and Development (OECD) Handbook on Constructing Composite Indicators. For the aggregation method, the summation of weighted and normalized sub-indicators was used. The PB-EERI reveals considerable regional variations, with total scores ranging from around 39 to 72% and concentrating around the mid-0.5s. The findings reveal systematic differences in most indicators’ performance. The legal framework indicator significantly influences variation between countries, together with market conditions and societal awareness. Energy efficiency in public buildings, praised as the “first fuel”, should be prioritized beyond mere compliance with EU regulations. The PB-EERI emphasizes that success relies more on the capacity to transform formal strategies into concrete renovation programs, quantifiable objectives, and higher awareness of society to ensure uptake of the renovation measures. Full article

Circular economy learning fosters competencies in sustainable resource management and environmental protection, which have been recognized by the OECD (Organization for Economic Cooperation and Development) to be essential for cross-curricular training and higher education. However, implementing gamification techniques through mobile applications remains challenging, as their effectiveness depends on students’ willingness to adopt them. This study evaluated acceptance of a gamified mobile application for circular economy learning among university students in Peru, analyzing the relationships between the constructs of the Technology Acceptance Model (TAM). A quantitative correlational case study involving 76 students was conducted. The results showed a moderate-to-high acceptance rate of 73.69%, with significant correlations identified between the TAM constructs. This study contributes to closing gaps in empirical evidence on the acceptance of technology for sustainability education in diverse contexts. Future studies should integrate generative artificial intelligence into gamified apps to deliver personalized feedback and employ learning analytics tools for progress tracking, supporting global efforts toward SGD 4 (Quality Education) and SDG 12 (Responsible Production and Consumption) for the transition to circular economies. Full article

This study investigates the firm- and country-level determinants that influence the extent of financial disclosure under International Financial Reporting Standards (IFRS) in selected Latin American Organisation for Economic Co-operation and Development (OECD) members or countries in the accession process in the period under analysis. Using a sample of 168 publicly listed companies from Argentina, Chile, Colombia, Mexico, and Peru, we construct a self-developed disclosure index based on compliance with International Accounting Standards IAS 16 (Property, Plant and Equipment) and IAS 2 (Inventories). These standards were selected due to their relevance across a broad range of sectors in emerging markets. Drawing on agency theory, stakeholder theory, institutional theory, signaling theory, and legitimacy theory, we examine how internal firm characteristics, macroeconomic performance, and institutional quality impact disclosure practices. Our empirical findings show that firm size, leverage, Gross Domestic Product (GDP) growth, and shareholder protection have a positive and statistically significant influence on the level of IFRS disclosure. However, not all institutional variables are equally effective, highlighting the complex interplay between regulatory environments and corporate reporting behavior in developing countries. The study contributes to the ongoing debate on the applicability and effectiveness of IFRS in emerging economies by offering evidence from underexplored Latin American markets and emphasizing the need for context-specific policy and regulatory interventions. Full article

An assessment of sustainability at the macro level is carried out for 12 leading OECD economies, plus China and Brazil, over the period of 1960–2015 in a comparative dynamic fashion under varying policy priorities: economic, social, environmental, and equal importance. Overall, Sweden, Switzerland, and Norway are found to be outperforming most other countries based on the basket of 16 different sustainability indicators consistently over time. While there are underlying causes of such performance expressed in policies of innovation, decarbonisation, and social cohesion, addressing economic, environmental, and social dimensions, there are some soft factors traditionally lying outside economic or policy domains. Such factors represent the power of institutions, the level of psychological well-being, and societal values, which tend to be statistically different in Sweden, Switzerland, and Norway, as opposed to other countries in the sample. The reasons for the changes in sustainability performance among countries under different policy priorities are discussed at length, with special attention paid to an economically, environmentally, and socially weighted sustainability index of progress. Full article

Economic stability in emerging market economies is increasingly shaped by the interplay between global financial integration, domestic monetary dynamics, and asset price fluctuations. Yet, early detection of financial market disruptions remains a persistent challenge. This study constructs a Financial Stress Index (FSI) for Pakistan, utilizing monthly data from 2005 to 2024, to capture systemic stress in a globalized context. Using Principal Component Analysis (PCA), the FSI consolidates diverse indicators, including banking sector fragility, exchange market pressure, stock market volatility, money market spread, external debt exposure, and trade finance conditions, into a single, interpretable measure of financial instability. The index is externally validated through comparisons with the U.S. STLFSI4, the Global Economic Policy Uncertainty (EPU) Index, the Geopolitical Risk (GPR) Index, and the OECD Composite Leading Indicator (CLI). The results confirm that Pakistan’s FSI responds meaningfully to both global and domestic shocks. It successfully captures major stress episodes, including the 2008 global financial crisis, the COVID-19 pandemic, and politically driven local disruptions. A key understanding is the index’s ability to distinguish between sudden global contagion and gradually emerging domestic vulnerabilities. Empirical results show that banking sector risk, followed by trade finance constraints and exchange rate volatility, are the leading contributors to systemic stress. Granger causality analysis reveals that financial stress has a significant impact on macroeconomic performance, particularly in terms of GDP growth and trade flows. These findings emphasize the importance of monitoring sector-specific vulnerabilities in an open economy like Pakistan. The FSI offers strong potential as an early warning system to support policy design and strengthen economic resilience. Future modifications may include incorporating real-time market-based metrics indicators to better align the index with global stress patterns. Full article

This study examines the role of algorithmic fairness in alleviating digital financial stress among consumers across OECD countries, utilizing panel data spanning from 2010 to 2023. By introducing a digital financial stress index—constructed from indicators such as household credit dependence, digital debt penetration, digital default rates, and financial complaint frequencies—the research quantitatively captures consumer financial anxieties within AI-driven e-commerce platforms. Employing two-way fixed-effects regression and system-GMM methods to address endogeneity and dynamic panel biases, findings robustly indicate that increased algorithmic fairness significantly reduces digital financial stress. Furthermore, the moderating analysis highlights digital literacy as a critical factor amplifying fairness effectiveness, revealing that digitally proficient societies derive greater psychological and economic benefits from equitable algorithmic practices. These results contribute to existing scholarship by extending discussions of algorithmic ethics from individual-level analyses to a macroeconomic perspective. Ultimately, this research underscores algorithmic fairness as a crucial policy lever for promoting consumer welfare, calling for integrated national strategies encompassing ethical algorithm governance alongside enhanced digital education initiatives within OECD contexts. Full article

In order to recycle plastic waste back to food contact materials (FCMs), it is necessary to identify hazardous substances in plastic packaging that pose a toxicological risk. Printing inks on plastics are not yet designed to withstand the high heat stress of mechanical recycling processes and therefore require hazard identification. In this study, virgin polypropylene (PP) foils were printed with different types of inks (UV-cured, water-based) and colour shades. Thermal analysis of printed foils and pigments was performed using differential scanning calorimetry (DSC). Samples were then thermally treated below and above measured thermal events at 120 °C, 160 °C, 200 °C or 240 °C for 30 min. Subsequently, migration tests and miniaturised Ames tests were performed. Four out of thirteen printed foils and all three pigments showed positive results for mutagenicity in miniaturised Ames tests after thermal treatment at 240 °C. Additionally, pre-incubation Plate Ames tests (according to OECD 471) were performed on three pigments and one printed foil, yielding two positive results after thermal treatment at 240 °C. These results indicate that certain ink components form hazardous decomposition products when heated up to a temperature of 240 °C. However, further research is needed to gain a better understanding of the chemical processes that occur during high thermal treatment. Full article

Considering the United Nations Climate Change Accord and insights from the OECD Global Material Resources Outlook to 2060, this study explores the intricate interrelationships of population growth, economic expansion, energy consumption, and carbon emissions in key OECD and BRICS countries. With the global economy heavily reliant on fossil fuels—the primary drivers of carbon emissions—we examine historic and projected energy use trends in developed and emerging economies. Through a combination of exploratory data analysis and ARIMA-based statistical forecasting, we investigate the relationships among GDP growth, energy use, and emissions, drawing distinctions between OECD and BRICS nations. Our findings reveal that, while developed economies demonstrate declining energy use, emerging markets show an upsurge in usage tied to economic growth. This research presents a compelling case for transitioning to a low-carbon future, drawing on renewable energy sources and proposing a roadmap to achieve both economic resilience and environmental sustainability. Our work serves as a call to action for policy-driven, cleaner energy investments to curb emissions and safeguard the planet. Full article

The global shift toward digital transformation presents both opportunities and challenges for national economies, particularly in terms of workforce readiness. While many studies assess digital readiness via infrastructure or technological adoption, fewer investigate the preparedness of countries’ future labor forces. This article addresses this research gap by examining how quality of education relates to job automation risk across OECD countries. The goal is to identify which nations are least prepared for digital disruption due to weak educational foundations and high automation exposure. Using data on education expenditure, PISA scores, and the Education Index, compared to the percentage of jobs at high risk of automation, this study applies correlational analysis and a quadrant overview to assess national readiness. Findings show that countries such as Slovakia, Poland, and Greece are least prepared, combining low investment in education and high exposure to automation. Conversely, nations like Finland, Norway, Sweden, and New Zealand exhibit strong readiness, characterized by robust education systems and lower automation risks. This study contributes to the literature by integrating automation vulnerability into national readiness assessments and offers actionable insights for policymakers focused on education reform and workforce development. Full article

This study investigates the long-run impact of digital transformation and fintech innovation on environmental sustainability across OECD countries from 1999 to 2024. Drawing on a novel empirical framework that integrates panel fully modified ordinary least squares, the system-generalized method of moments, and machine learning estimators, the analysis captures both linear and nonlinear dynamics while addressing heterogeneity, endogeneity, and structural complexity. Environmental sustainability is measured by per capita CO₂ emissions, while digital transformation and fintech innovation are proxied by secure internet servers and G06Q patent applications, respectively. The findings reveal that both digital infrastructure maturity and fintech-driven innovation significantly reduce carbon emissions, suggesting that technologically advanced digital ecosystems serve as effective instruments for climate mitigation. Robustness checks via the system-generalized method of moments confirm the stability of these relationships, while machine learning models—Random Forest and XGBoost—highlight digital variables as top predictors of emissions reduction. The convergence of results across estimation methods underscores the reliability of the digital–environmental nexus. Policy implications emphasize the need to embed sustainability metrics into digital strategies, promote green fintech regulation, and prepare labor markets for Industry 4.0 transitions. These findings position digital and fintech innovation not merely as enablers of economic growth, but as structural levers for achieving environmentally sustainable development in high-income economies. Full article

Divergences in tax policies are evident among European OECD economies, due to varying priorities of efficiency vs. equity, influenced by the forms of direct vs. indirect taxation. The special interest of this paper is to identify how different tax forms (direct—corporate and personal income taxes (CIT, PIT); and indirect—value added tax (VAT)) affect inequality in European OECD economies in the period 2003–2020. Using heterogeneous non-stationary panel models and the (Pooled) Mean Group (PMG/MG) methods of estimation, a long-run negative relationship between direct tax forms (CIT, PIT) and the Gini coefficient was discovered, meaning that utilizing progressive direct tax forms resulted in more equity. The error-correction terms are heterogeneous, showing that developed economies decrease income inequality by using direct taxes more efficiently than emerging European OECD economies. The short-run statistically significant relationships between VAT and the Gini coefficient are discovered, meaning that certain European OECD economies effectively use VAT revenue to achieve greater equity in society. This study demonstrates that the use of indirect tax forms may be beneficial in terms of collecting more tax revenues, and that using them for redistributive programs can reduce inequality while maintaining economic efficiency. Full article

This study examines the impact of housing price increases on income inequality using the dynamic system GMM for OECD countries (2010–2021). We test the hypothesis that housing price appreciation affects income distribution differently based on economic development levels and homeownership patterns. The analysis is conducted both for the entire sample and by dividing countries into two groups based on per capita income, Group 1 (16 countries) with below-median per capita GDP and Group 2 (17 countries) with above-median per capita GDP, to account to account for structural differences in housing markets, financial systems, and wealth accumulation mechanisms. The findings show that rising housing prices help reduce income inequality, especially in countries that are relatively low-income and where more low-income households own their homes. Specifically, our estimates indicate that a one-point increase in the housing price index leads to a statistically significant (p < 0.05) 0.21 percentage point reduction in the Gini change rate in lower-income countries. However, in higher-income countries, the effect of housing prices on inequality is statistically insignificant, suggesting that the relationship between housing markets and income inequality varies across different economic contexts. This insignificance likely stems from countervailing forces: while housing appreciation increases wealth for homeowners, higher housing costs may disproportionately burden lower-income households through rental markets in these economies. The findings highlight the importance of country-specific housing programs that consider homeownership patterns and financial market access in tackling inequality, along with comprehensive public social policies. Our study has implications for policymakers seeking to address inequality through housing market interventions, particularly during the post-2008 recovery period and into the early pandemic phase. Full article