PUBLIC EXPENDITURE AND ENVIRONMENTAL POLICY
PUBLIC EXPENDITURE AND ENVIRONMENTAL POLICY

Author(s): Veniamin Todorov
Subject(s): Economy, Energy and Environmental Studies, Public Finances
Published by: Икономически университет - Варна
Keywords: public expenditure; environmental policy; environmental protection; general government
Summary/Abstract: The paper analyses the public expenditure on environmental protection which includes waste management, water waste management, pollution abatement, protection of biodiversity and landscape, and R&D related to environmental protection. First, the need for public financing of environmental policy is discussed in view of the concepts of sustainable development, public goods, and externalities. Second, the study focuses empirically on the European Union: a comparative analysis between the EU as a whole, the Euro area, and Bulgaria. The data is for the period 1995-2018. Indicators, characterizing the environmental protection spending of the general government sector, are constructed in relation to three critical aspects: the amount, the volatility, and the growth rate. The analysis builds on them, and deduces the main idiosyncrasies for the period.

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