The Impact of Green Economy Development on Economic Growth and Environmental Protection: An Econometric Analysis for EU Countries
This research aims to analyze the role of the green economy in economic growth and environmental protection in EU countries. So, let's see how much the green economy influences these two essential elements of an economy. To realize this paper, we used secondary data from the World Bank, OECD, IMF, and Eurostat. As for the literature review, we primarily focused on different books, scientific works, different international conferences, reports, and online resources. The years analyzed in this research are 2005-2023. The results show that the green economy is vital to boost economic growth and protect the environment. Still, its success depends on strong policies, strategic investments, and sustained support from governments and the private sector. The results obtained from this study will serve as good scientific and empirical evidence for future studies that will be carried out in green economics. The results of this study will serve as practical evidence for the governments of European countries regarding the green economy, environmental protection, and economic growth to create adequate policies regarding these factors.