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Published papers:
Chatzistamoulou, N., & Dimakopoulou, A.G. (2025). Do climate change policy instruments loom like the sword of Damocles over green technology independence to achieve green growth and sustainability in Europe?, Technological Forecasting and Social Change, Volume 215. DOI - Open Access
Abstract: We introduce a conceptual framework that synthesizes the European policy framework with country-specific capabilities to examine the impact of green policy tools and non-linear effects of eco-innovation progress on green technology independence within the EU-28 during the transformative period 2010–2019. Focusing on green technology independence allows us to delve into the key contributors of technological aspects of green growth. Despite its recognized significance in sustainability transition, this aspect remains vastly unexplored. We introduce a novel measure, the climate change mitigation policy rate to assess the extent of national action in addressing climate change, alongside climate taxes and environmental policy effectiveness, for the first time. Econometric results from panel quantile regressions indicate that green technology independence is prone to green taxation and climate change mitigation policy rate, across tiers. Findings indicate that green technology independence is affected by eco-innovation in a non-linear manner, as a U-shaped relationship is substantiated. Moreover, highly effective environmental policy negatively affects countries with low level of green technology independence. Policy-wise, a flexible policy framework is more conducive to promoting green technology independence than a rigid one, emphasizing the need for a holistic approach in policy making. This study contributes to SDGs 7, 9, 12 and 13.
Graphical Abstract
Source: Chatzistamoulou, N., & Dimakopoulou, A.G. (2025). Do climate change policy instruments loom like the sword of Damocles over green technology independence to achieve green growth and sustainability in Europe?, Technological Forecasting and Social Change, Volume 215. DOI
Chatzistamoulou, N., & Kounetas, K. (2023). Tracing green growth through industrial resource efficiency patterns: The role of competitiveness and clean technologies. Managerial and Decision Economics, 44(7), 4011–4026. DOI - Open Access
Abstract: The European Green Deal entails benefits for industrial transition to cleaner production through resource efficiency, paving the way to green transition. We develop a conceptual framework to study the drivers of resource efficiency of European industries towards green growth via segments of the countries' competitiveness under technological heterogeneity. Data on 13 industries in 17 European countries over an 8-year period is used. Evidence shows that isolated efforts to improve productive performance harms environmental efficiency in low competitiveness countries. Results show that industrial environmental performance is affected by country's competitiveness, contributing to the implementation of the New Industrial Strategy of Europe.
Graphical Abstract
Source: Chatzistamoulou, N., & Kounetas, K. (2023). Tracing green growth through industrial resource efficiency patterns: The role of competitiveness and clean technologies. Managerial and Decision Economics, 1– 16.
Chatzistamoulou, N. (2023). Is digital transformation the Deus ex Machina towards sustainability transition of the European SMEs?. Ecological Economics, 206, 107739, DOI. - Open Access
Abstract: The 2030 Digital Compass aligned with the European Green Deal prioritize transparency through the digital transformation of the European SMEs paving the way to a more sustainable production paradigm. Thus, a twin transition is in motion facilitated by the New Industrial Strategy supporting the adoption of green business strategies across industrial ecosystems. This paper investigates whether the digital transformation and the decision to participate in public procurement as a transparent external funding source support adoption of business actions fostering sustainability transition. Data over more than 20,000 SMEs in the EU-28 over the period 2015–2019 complemented by country-specific attributes towards sustainability and institutional business environment are combined. Econometric results indicate that digital transformation fosters sustainability transition. Although participation in public tenders exerts a positive and systematic effect on the adoption of a sustainability supporting strategy, the two decisions appear independent indicating that SMEs are determined to shift the production paradigm irrespectively. Business operational problems affect but not deter sustainability transition. Business corruption in countries of low levels of sustainability impedes sustainable business actions, yet evidence favors higher transparency. The latter highlights the necessity towards building a coherent although adaptable institutional framework. This study contributes to SDGs 7, 12, 13 and 16.
Graphical abstract
Graphical abstract
Source: Chatzistamoulou, N. (2023). Is digital transformation the Deus ex Machina towards sustainability transition of the European SMEs?. Ecological Economics, 206, 107739.
Chatzistamoulou, N., & Tyllianakis, E. (2022). Commitment of European SMEs to resource efficiency actions to achieve sustainability transition. A feasible reality or an elusive goal?. Journal of Environmental Management, Volume 321, 115937, DOI. - Open Access
Abstract: The European Union has built an interdependent framework to promote sustainability transition through commitment in resource efficiency (RE) actions as echoed in the European Green Deal. Although the factors affecting firms' decision to adopt a green strategy have been extensively explored, those affecting commitment remain unexplored. Thus, we study whether commitment of European SMEs to RE actions fosters sustainability transition and, what drives such commitment. Data includes more than 37,000 European SMEs from 2013 through 2017, combined with country-specific characteristics explored via a probit model with sample selection. Findings indicate that during the study period there has been a change in the structure of incentives of the firms, as in the beginning of the period, adoption of RE actions and future engagement were considered as independent decisions. We document that commitment is driven RE enhancers such as the implementation of new technological paradigms, cooperation, and specialized business advice while resource productivity, green energy, and competitiveness further foster commitment. Findings advocate that commitment in RE actions to achieve sustainability transition is a feasible reality. Efforts of policymakers should focus on further enabling RE committed firms by reducing policy red tape.
Graphical abstract
Graphical abstract
Source: Chatzistamoulou, N., & Tyllianakis, E., Commitment of European SMEs to resource efficiency actions to achieve sustainability transition. A feasible reality or an elusive goal?
Chatzistamoulou, N., & Tyllianakis, E. (2022). Green growth & sustainability transition through information. Are the greener better informed? Evidence from European SMEs. Journal of Environmental Management, Volume 306, 114457, DOI.
Abstract: The European Green Deal along with directives promoting Circular Economy support sustainability transition and foster green growth through developing appropriate funding. However, information on how to access such funding affects firms' decision to expand their business strategy. This paper investigates the effect of information about financing tools on the adoption of Circular Economy business activities by exploring whether the better-informed firms are ‘greener’ and what influences such decision through a switching endogenous regressor model to account for endogeneity and selectivity bias. Data on European SMEs is combined with country-specific characteristics and econometric results indicate that better informed firms are by 65 percentage points more likely to adopt an activity promoting Circular Economy, highlighting that awareness about funding tools is crucial for sustainability transition. Evidence advocates for mainstreaming information regarding funding sources to pave the way towards green growth. A rebound effect regarding the use of renewables is observed whilst evidence points towards the rejection of Porter Hypothesis. Policy makers should target in fostering a greener business environment for the firms that engage in Circular Economy practices through increased information on funding options. Findings are also pertinent to the ongoing discussion and policy agenda around acceleration of the transition to a greener European Economy.
The policy aspects and related implications of the above paper have been published in Science for Environment Policy, a news service published by the European Commission's Directorate-General for Environment (DG ENV).
Science for Environment Policy is a free service that provides news of the latest environmental research that has been specially selected by independent scientific advisors. Readers gain a unique insight into the vital scientific issues relevant to current EU environmental policy.
Our research has been sent out to over 20,000 policymakers, academics and business people across Europe to assist in the development of effective, evidence-based policies. The article "Factors promoting green growth include access to information on funding opportunities", based on the above paper, is freely available by the DG for Environment!
Conference presentations:
9th International Conference on Economics of Natural Resources & the Environment, (ENVECON 2023), Laboratory of Operations Research, Department of Economics, University of Thessaly and Laboratory of Forest Economics, Department of Forestry and Natural Environment, Aristotle University of Thessaloniki, Thessaloniki, Greece, 08-09 December 2023.
World Sustainability Conference (WSC2023), The Green Institute and the HeTa Food Research Centre of Excellence, University of Birmingham, Birmingham, United Kingdom, 22 November 2023.
35th Annual Conference of the European Association for Evolutionary Political Economy, (EAEPE 2023), Leeds University Business School, University of Leeds, Leeds, United Kingdom, 13-15 September 2023.
10th Annual Workshop of Sustainability, Environmental Economics and Dynamics Studies (SEEDS 2023), University of Ferrara, Ferrara, Italy, 04-06 May 2023.
11th Annual Conference of the Italian Association of Environmental and Resource Economists, (IAERE 2023), Parthenope University of Naples, Naples, Italy, 23-24 February 2023.
8th International Conference on Economics of Natural Resources & the Environment, [Hybrid] (ENVECON 2022), Laboratory of Operations Research, Department of Economics, University of Thessaly and Research Unit of Environmental Communication and Education of the Department of Public and Community Health, University of West Attica, Greece, 02-03 December 2022.
34th Annual Conference of the European Association for Evolutionary Political Economy, (EAEPE 2022), Parthenope University of Naples, Naples, Italy, 07-09 September 2022.
32nd European Operations Research Conference (EURO 2022), Aalto University, Espoo, Helsinki, Finland, 03-06 July 2022.
17th European Workshop on Efficiency and Productivity Analysis (EWEPA 2022), Católica Porto Business School, Porto, Portugal, 27-29 June 2022.
7th International Conference on Economics of Natural Resources & the Environment, [Virtual] (ENVECON 2021), Department of Economics, University of Thessaly, Greece & Department of Ichthyology and Aquatic Environment School of Agricultural Sciences University of Thessaly, Greece, 26-27 November 2021.
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