International Conference on Economics, Finance & Business, Vienna

TWIN TRANSITION IN EU NEW MEMBER STATES

JOANNA BOGNA ZIELIŃSKA

Abstract:

Recently sustainable development has become an economic policy’s priority for many countries. While China’s development is based on export-driven strategy and USA maintains high level of innovativeness, the European Union bases its competitiveness on sustainability. The aim of the presentation is to evaluate the level of twin transition in the New Member States against the background of all EU countries and to identify the determinants of differences in countries' performance. Research questions include: How advanced is the green and digital transition in the EU New Member States? Which countries achieve the highest and lowest levels of twin transition? Which factors explain differences in the twin transition among EU countries? Hypotheses: 1. Countries with higher levels of innovativeness present better twin transition performance. 2. Countries with higher GDP per capita achieve better twin transition outcomes. Most EU New Member States are classified as moderate or emerging innovators according to the European Innovation Scoreboard. Although they have made substantial progress in both sustainability and digitalisation over the past decade, they generally lag behind the most innovative and economically advanced EU countries in achieving the twin transition.

Keywords: sustainability, digital transformation, European Union

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