The Role of Unemployment in the ESG Model at World Level

Leogrande, Angelo and Leogrande, Domenico and Costantiello, Alberto (2023): The Role of Unemployment in the ESG Model at World Level.

Abstract

In this article, we investigate the role of Unemployment-U in the context of Environmental, Social and Governance-ESG model at World Level. We use data from 193 countries in the period 2011-2021. We apply Panel Data with Random Effects, Panel Data with Fixed Effects, Pooled Ordinary Least Squares-OLS, and Weighted Least Squares-WLS. We found that among other the level of U is positively associated, among others, to “GHG Net Emissions” and “Government Effectiveness”, and negatively associated among others, to “Maximum 5 Day Rainfall” and “Political Stability and Absence of Violence/Terrorism”. Furthermore, we confront eight different machine-learning algorithms to predict the future value of U. We found that the best predictive algorithm in terms of maximization of R-squared and minimization of MAE, MSE, and RMSE is the Linear Regression. The value of U is expected to growth of 1.51% on average for the analysed countries.

• Item Type: MPRA Paper
• Language: English
• Keywords: Analysis of Collective Decision-Making; General; Political Processes: Rent-Seeking; Lobbying; Elections; Legislatures; and Voting Behaviour; Bureaucracy; Administrative Processes in Public Organizations; Corruption; Positive Analysis of Policy Formulation; Implementation.
• Subjects: D - Microeconomics > D7 - Analysis of Collective Decision-Making; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D70 - General; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D73 - Bureaucracy ; Administrative Processes in Public Organizations ; Corruption; D - Microeconomics > D7 - Analysis of Collective Decision-Making > D78 - Positive Analysis of Policy Formulation and Implementation

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