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Determining Relationship Between Economic Growth and Environmental Protection

Assoc. Prof. Svetlana Ignjatijević, PhD [1], Assoc. Prof. Anđelka Aničić, PhD [2], prof. Jelena Vapa Tankosić, PhD [3], Jelena Belokapić Čavkunović [4]
Rad primljen: 22.12.2019.
Rad prihvaćen: 19.03.2020.
DOI: 10.5937/Oditor2001036I

Original scientific paper

UDK:
330.341:502.131.1″2010/2018″
JEL: O44, Q50

Summary:

The subject of this paper is the analysis of the relationship between economic growth and the environment performance. The authors have investigated the EPI index while our research covered the period 2010-2018. The findings reveal that environmental policy directly and positively influences economic performance through the improvement of environmental conditions. However, many analysts fear that the demands of the green economy already create high costs, and that its benefits will be materialized in the long term. Finally, sustainable business operations – the green economy requires timely harmonization, in order to fulfill the goals of environmental protection.
Keywords: green growth, green economy, EPI index, environment, green
politics

[1] Associate Professor, Svetlana Ignjatijević, PhD, Faculty of Economics and Engineering Management, Cvećarska 2, Novi Sad, Serbia, ceca@fimek.edu.rs
[2] Associate Professor, Anđelka Aničić, PhD, Higher Business School of Vocational Studies „Čačak“, Belgrade,
Serbia, anicican@gmail.com
[3] Full Professor, Jelena Vapa Tankosić, PhD, Faculty of Economics and Engineering Management, Cvećarska 2, Novi Sad, Serbia, jvapa@fimek.edu.rs
[4] Jelena Belokapić Čavkunović, University of Business Studies, Jovana Dučića 23a, 78000 Banja Luka, Serb Republic, Bosnia and Herzegovina, E-mail:collective.action1234@gmail.com