Politická ekonomie 2023, 71(4):422-446 | DOI: 10.18267/j.polek.1391

Implications of Environmental Taxation for Economic Growth and Government Expenditures in Visegrad Group countries

Vera Mirović ORCID..., Branimir Kalaš ORCID..., Jelena Andrašić ORCID..., Nada Milenković ORCID...
University of Novi Sad, Faculty of Economics in Subotica, Serbia

The paper shows an econometric approach to environmental taxes, economic growth and go- vernment expenditures in Visegrad Group (VG) countries from 1995 to 2018. The aim of this research is to explore how environmental taxes affect economic growth in Czechia, Hungary, Poland and Slovakia in the observed period. The subject of the research is to identify the relationship between total environmental tax revenues, energy tax revenues, transport tax revenues and economic growth. Also, empirical research includes the relation between environmental taxation and government expenditures to identify the character of their effects and influence on economic growth through government expenditures. The findings of VAR model I manifest that shocks in total environmental tax revenues and energy tax revenues positively and significantly affect the economic growth, whereas transport tax revenues have a negative and significant effect on economic growth. The results of VAR model II show that total environmental tax revenues are significantly positively related to government expenditures, which is not the case with energy tax revenues and transport tax revenues. Furthermore, empirical research finds a bidirectional causality between environmental taxes and economic growth, as well as unidirectional causality between environmental taxes and government expenditures in VG economies.

Keywords: Environment, taxes, economic growth, government expenditure, VG economies
JEL classification: H23, O11, O44

Vloženo: 14. říjen 2022; Revidováno: 16. leden 2023; Přijato: 6. únor 2023; Zveřejněno online: 4. květen 2023; Zveřejněno: 6. září 2023  Zobrazit citaci

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Mirović, V., Kalaš, B., Andrašić, J., & Milenković, N. (2023). Implications of Environmental Taxation for Economic Growth and Government Expenditures in Visegrad Group countries. Politická ekonomie, 71(4), 422-446. doi: 10.18267/j.polek.1391
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