AN EMPIRICAL STUDY ON KEY INDICATORS OF ENVIRONMENTAL QUALITY: GREEN BUDGETING - A CATALYST FOR SUSTAINABLE ECONOMY AND A FACTOR FOR INSTITUTIONAL CHANGE

This paper presents the phenomenon of institutional change through the implementation of sustainable strategies of medium-term budgeting, having as an effect the growth of opportunity to attract proper resources for social and environmental programs. The study analyzes green budget practices and suggests several ways to use them in order to ensure consistency in implementing key elements of sustainable economy. Thus, we conducted an empirical study to explain the decisive factors impact (greenhouse gas emissions and national income) on health expenditure and we obtained statistically significant positive relationship, suggesting that green budgeting is an important factor for sustainable economy. The reasons behind the introduction of a sustainable perspective for budgeting in any country are important since they will dictate, to a large extent, the way the medium term budgeting will be institutionalized.