Proceedings

shown above, but also by sizes which approach in a new way the economic and
political context such as Government Effectiveness.
The form-model is defined as follows:
Where
y i is EPI, for 2010
x GDP per capita, for 2010
i
yi i i i
= b + a ⋅ x + c ⋅ z + ε , i = 1,...,
n
z i is the Government Effectiveness
n represents the number of countries taken into analysis
The econometric model is a multiple regression model and opens another path for
future research.
CONCLUSIONS
Environmental issues and over-exploitation of natural resources can be largely
explained by the lack of clearly defined property rights and other causes of market
failure in combination with inadequate policies and weak institutions. Linking
environmental concerns with economic arguments in decision-making process can be
an important step towards better achieving the Millennium development policies.
Thus, technical and economic arguments for policy reform argue that the allocation of
budgetary resources based on well-designed programs can contribute to sustainable
development. Environmental programs are more credible if they are developed and
budgeted for professional entities (eg. Australia and the Netherlands). The
introduction of medium-term budgeting is particularly favorable for environmental
ministries and agencies with responsibility for environmental management, because
the programs are long-term and investment in infrastructure is also for long periods.
Budgeting for sustainable performance force weaker ministries such as environment
to think strategically and to develop policies and financial planning in order to obtain
a convenient budget compared to other budgets of the stronger ministries. If they are
well-conceived, the environmental programs can provide a strong link between
policies, strategic budgeting and TBL reporting.
Based on specialization literature review, we can affirm that more and more
companies conduct a reporting of the sustainability, by including the social,
environmental and economic impact, not only as an accounting tool, but also a
strategic one, in order to highlight the new sources of income and economic growth.
Our research argues that countries that take environmental issues into the economic
and governmental policies are more competitive and more innovative than others.
They have access to a range of information before others and are better prepared to
deal with unpredicted issues that may adversely affect people's lives. By rethinking
products and services to meet market-oriented needs, the environment–oriented
countries ensure themselves environmental and ecological growth. This hypothesis
results from the empirical model presented, showing that the environment results can
be quantitatively determined, facilitating a detailed analysis of environmental policy.
In order to improve these goals, politicians should invest in collecting more data and
monitoring a set of key indicators over time.
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