| Title |
Relationship of Social Protection Expenditures and Socio-economic Indicators: A Panel Data Analysis of the EU Countries |
| ID_Doc |
79142 |
| Authors |
Halaskova, R; Bednar, P |
| Title |
Relationship of Social Protection Expenditures and Socio-economic Indicators: A Panel Data Analysis of the EU Countries |
| Year |
2020 |
| Published |
Montenegrin Journal Of Economics, 16, 2 |
| DOI |
10.14254/1800-5845/2020.16-2.2 |
| Abstract |
Systems of social protection and approaches in tackling social risks differ by the degree of redistribution and by its generosity. The current issue in developed countries is finding the optimal relationship between economic and social policy. Therefore, the selected areas of social policy and economic development from a narrow perspective are subjected to the research investigation. To address the issue, the paper aims to analyse the association between social protection expenditures and the selected socio-economic indicators. In line with the aim, four hypotheses have been verified. H1: There is a positive relationship between social protection expenditures and indicators of socio-economic development. H2: There is a positive relationship between social protection expenditures and indicators of unemployment. H3: There is a negative relationship between social protection expenditures and indicators of income inequality. H4: There is a negative relationship between social protection expenditures and indicators of poverty. The panel data regression for the sample of the 27 EU countries in the period 2007-2015 was applied to test the hypotheses. The results of the final fixed effect model with robust coefficients revealed a positive relationship between Human development index and unemployment rate on the one side and social protection expenditures on the other. On the contrary, a negative relationship was identified between social protection expenditures on the one side and poverty rate for the elderly 65+ and income inequality (measured through Gini coefficient) on the other. These findings confirm the fact that the amount of social protection spending is reflected in the socio-economic development of the EU countries. |
| Author Keywords |
social protection expenditure; socio-economic indicators; socio-economic development; EU countries; fixed effects model |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Emerging Sources Citation Index (ESCI) |
| EID |
WOS:000536480200002 |
| WoS Category |
Economics |
| Research Area |
Business & Economics |
| PDF |
https://doi.org/10.14254/1800-5845/2020.16-2.2
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