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Relations Among Social and Economic Order in European Union Countries

In: Eurasian Economic Perspectives

Author

Listed:
  • Adam P. Balcerzak

    (Nicolaus Copernicus University in Torun)

  • Michał Bernard Pietrzak

    (Nicolaus Copernicus University in Torun)

Abstract

The article concentrates on the problem of sustainability at country level in European Union. Special attention is given here to the relations between two pillars of sustainable development concept: social order and economic order. Thus, the aim of the article is to analyze relationship between the social and economic spheres for European Union members states. The concept of sustainability and its pillars are considered as a multiple-criteria and latent phenomenon. As a result they are analyzed with application of structural equation modeling (SEM). The applied methodology includes confirmatory factor analysis and path analysis. SEM model was used here as it enables to analyse the interrelations between latent variables, which are the result of influence of many factors. The research is conducted with application of data provided by Central Statistical Office of Poland for the years 2004–2013. The applied model enabled to confirm significant influence of the social order on the economic order.

Suggested Citation

  • Adam P. Balcerzak & Michał Bernard Pietrzak, 2018. "Relations Among Social and Economic Order in European Union Countries," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Eurasian Economic Perspectives, pages 385-396, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-67916-7_25
    DOI: 10.1007/978-3-319-67916-7_25
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