NEW IMPACT MODEL ON THE EFFECT OF SOCIAL WELFARE ON SUSTAINABLE ECONOMIC DEVELOPMENT

Abstract

In the current challenging context, dominated by multiple crises, social policy is a strategic element on which the EU has focused in regulatory, institutional and financial terms, with the objectives of ensuring social well-being for all European citizens, creating an institutional and economic climate of social security, ensuring equal opportunities and social inclusion. In this context, we aim to develop a study of the dynamics of social policy components at the European level and to develop the impact model on the effect of social welfare on sustainable economic development based on the evolution of the main economic and social indicators at the European level. The econometric methodology used is based on the application of linear regressions on panels of fixed effects data in order to highlight the vulnerability aspects in economic development and poverty reduction from the perspective of social policies at the European level. The analysis will make it possible to highlight the main social policy guidelines at European level and to situate these approaches in the current uncertain context.

Keywords

• social policies
• social welfare
• sustainable economic development
• econometric model
• social security