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Economics Research Group

About the research group

The current research topics of the Economics Research Group are

  • Competence: innovation and intangible capital in companies and the economy
  • Financial literacy and financial education
  • Firm-level energy and environmental economics issues
  • Banking and macroeconomic stability
  • Connections and interactions between financial markets and the real world

The research group emphasizes the importance of competence. The most important factors in productivity growth are investment in education, economic literacy, research, innovation and digitalisation, which can be influenced both directly and indirectly by economic and environmental policies.

The projects address issues such as the accumulation and dissemination of knowledge and the link to sustainable growth, the development of digital teaching methods in economics education and the assessment of their impact, environmental innovations by companies and the assessment of the Vaasa energy ecosystem as part of the global value chain.

The projects of the research program have been funded by the Academy of Finland, the European Commission's Horizon 2020 program, the European Regional Development Fund, the National Board of Education and Tekes (current Business Finland).

The research group's projects have a strong societal impact. Project leaders will take part in current discussions related to, among other things, innovation policy and the development of economics education.

The research group is coordinated by Professor Hannu Piekkola.

2024 

  • Intangible Assets and Productivity: An Occupation-Based Approach

Piekkola, Hannu; Bloch, Carter; Rybalka, Marina; Redek, Tjaša, 2024, Bloch, Carter; Protogerou, Aimilia; Vonortas, Nicholas S., Intangible Assets, Productivity and Economic Growth: Micro, Meso and Macro Perspectives, Routledge Studies in the Economics of Business and Industry, 103-127, Chapter 6, https://doi.org/10.4324/9781003324225-6, A3 Book chapter (peer-reviewed)

  • Intangibles and their contribution to productivity: an overview

Bloch, Carter; Roth, Felix; Van Criekingen, Kristof; Piekkola, Hannu, 2024, Bloch, Carter; Protogerou, Aimilia; Vonortas, Nicholas S., Intangible Assets, Productivity and Economic Growth: Micro, Meso and Macro Perspectives, Routledge Studies in the Economics of Business and Industry, 34-55, Chapter 3, https://doi.org/10.4324/9781003324225-3, A3 Book chapter (peer-reviewed)

  • Organizational capital, allocation of intangibles, and firm performance: Evidence from the Globalinto intangible survey

Piekkola, Hannu, 2024, Bloch, Carter; Protogerou, Aimilia; Vonortas, Nicholas S., Intangible Assets, Productivity and Economic Growth: Micro, Meso and Macro Perspectives, Routledge Studies in the Economics of Business and Industry, 174-195, Chapter 9, https://doi.org/10.4324/9781003324225-9, A3 Book chapter (peer-reviewed)

  • Gender and age productivity–wage gaps in innovative work

Farčnik, Daša; Redek, Tjaša; Bloch, Carter; Piekkola, Hannu; Rybalka, Marina; Istenič, Tanja, 2024, Bloch, Carter; Protogerou, Aimilia; Vonortas, Nicholas S., Intangible Assets, Productivity and Economic Growth: Micro, Meso and Macro Perspectives, Routledge Studies in the Economics of Business and Industry, 128-149, Chapter 7, https://doi.org/10.4324/9781003324225-7, A3 Book chapter (peer-reviewed)

  • Assessing the roles of green innovations and renewables in environmental sustainability of resource-rich Sub-Saharan African states: A financial development perspective

Musah, Mohammed; Gyamfi, Bright Akwasi; Onifade, Stephen Taiwo; Sackey, Frank Gyimah, 2024, Natural resources forum, First published: 22 January 2024, https://doi.org/10.1111/1477-8947.12402, A1 Journal article (peer-reviewed)

  • Analysing governance‐led infrastructural development nexus in sub‐Saharan Africa: Does the moderating role of institutional quality matter?

Appiah, Michael; Onifade, Stephen Taiwo; Gyamfi, Bright Akwasi, 2024, Growth and change, 55, 1, e12709, https://doi.org/10.1111/grow.12709, A1 Journal article (peer-reviewed)

2023 

  • An environmental assessment of the impacts of corruption, foreign investment inflow and trade liberalization in the rapidly emerging Malaysian Economy

Gyamfi, Bright Akwasi; Onifade, Stephen Taiwo; Ridzuan, Abdul Rahim; Shaari, Mohd Shahidan; Jena, Pabitra Kumar, 2023, Environmental science and pollution research, 30, 41, 93667–93685, https://doi.org/10.1007/s11356-023-28868-0, A1 Journal article (peer-reviewed)

  • The effects of gas flaring as moderated by government quality in leading natural gas flaring economies

Alola, Andrew; Onifade, Stephen Taiwo; Magazzino, Cosimo; Obekpa, Hephzibah Onyeje, 2023, Scientific reports, 13, 14394, https://doi.org/10.1038/s41598-023-38032-w, A1 Journal article (peer-reviewed)

  • Assessing environmental sustainability in top Middle East travel destinations: insights on the multifaceted roles of air transport amidst other energy indicators

Onifade, Stephen Taiwo; Haouas, Ilham, 2023, Environmental science and pollution research, 30, 45, 101911–101926, https://doi.org/10.1007/s11356-023-29183-4, A1 Journal article (peer-reviewed)

  • Does financialization enhance renewable energy development in Sub-Saharan African countries?

Appiah, Michael; Ashraf, Sania; Tiwari, Aviral Kumar; Gyamfi, Bright Akwasi; Onifade, Stephen Taiwo, 2023, Energy economics, 125, 106898, https://doi.org/10.1016/j.eneco.2023.106898, A1 Journal article (peer-reviewed)

  • Assessing the drivers of (non)conventional energy portfolios in the South Asian economies: The role of technological innovation and human development

Onifade, Stephen Taiwo; Gyamfi, Bright Akwasi; Alola, Andrew Adewale; Haouas, lham, 2023, Sustainable development, First published: 09 September 2023, https://doi.org/10.1002/sd.2740, A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä (vertaisarvioitu)

  • Evaluating Supply Resilience Performance of an Automotive Industry during Operational Shocks: A Pythagorean Fuzzy AHP-VIKOR-Based Approach

Çalık, Ahmet; Onifade, Stephen Taiwo; Alola, Andrew, 2023, Systems, 11, 8, 396, https://doi.org/10.3390/systems11080396, A1 Journal article (peer-reviewed)

  • The effects of environmental investments on the economic performance of industrial plants – Evidence from Finland

Rahko, Jaana, 2023, Journal of cleaner production, 394, 136142, https://doi.org/10.1016/j.jclepro.2023.136142, A1 Journal article (peer-reviewed)

  • Extending the Frontiers of Financial Development for Sustainability of the MENA States: The Roles of Resource Abundance and Institutional Quality

Onifade, Stephen Taiwo; Gyamfi, Bright Akwasi; Haouas, Ilham; Asongu, Simplice A., 2023, Sustainable development, First published: 17 September 2023, https://doi.org/10.1002/sd.2751, A1 Journal article (peer-reviewed)

  • The effects of environmental innovations and international technology spillovers on industrial and energy sector emissions – Evidence from small open economies

Alola, Andrew Adewale; Rahko, Jaana, 2023, Technological forecasting and social change, 198, 123024, https://doi.org/10.1016/j.techfore.2023.123024, A1 Journal article (peer-reviewed)

  • The synergistic roles of green openness and economic complexity in environmental sustainability of Europe's largest economy: Implications for technology-intensive and environmentally friendly products

Gyamfi, Bright Akwasi; Agozie, Divine; Musah, Mohammed; Onifade, Stephen Taiwo; Prusty, Sadananda, 2023, Environmental impact assessment review, 102, 107220, https://doi.org/10.1016/j.eiar.2023.107220, A1 Journal article (peer-reviewed)

  • Suomalaisten talousosaaminen tarkastelussa

Kalmi, Panu; Vaahtoniemi, Saara; Raijas, Anu; Ranta, Mette; Ruuskanen, Olli-Pekka; Buturak, Gökhan, 2023, Kansantaloudellinen aikakauskirja, 119, 3, 284-305, A1 Journal article (peer-reviewed)

  • Understanding financial resource curse conjecture in developing economies: Insights from the rapidly emerging resource-abundant South Asian bloc

Onifade, Stephen Taiwo; Gyamfi, Bright Akwasi, 2023, Reference Module in Social Sciences, online 11 July 2023, https://doi.org/10.1016/B978-0-44-313776-1.00038-6, A3 Book chapter (peer-reviewed)

  • Financial literacy and its determinants and consequences: New survey evidence from Finland

Vaahtoniemi, Saara; Buturak, Gökhan; Kalmi, Panu; Ruuskanen, Olli-Pekka, 2023, Journal of financial literacy and wellbeing, 1, 2, 368-402, https://doi.org/10.1017/flw.2023.14, A1Journal article (peer-reviewed)

  • Environmental quality outlook of the leading oil producers and urbanized African states

Onifade, Stephen Taiwo; Alola, Andrew, 2023, Environmental science and pollution research, 30, 43, 98288–98299, https://doi.org/10.1007/s11356-023-28915-w, A1 Journal article (peer-reviewed)

  • Intangible capital and financial leverage in SMEs

Norkio, Antti, 2023, Managerial finance, 50, 2, 434-450, https://doi.org/10.1108/mf-10-2022-0488, A1 Journal article (peer-reviewed)

  • Financial literacy in the digital age—A research agenda

Koskelainen, Tiina; Kalmi, Panu; Scornavacca, Eusebio; Vartiainen, Tero, 2023, Journal of consumer affairs, 57, 1, 507-528, https://doi.org/10.1111/joca.12510, A1 Journal article (peer-reviewed)

  • Examining green productivity amidst climate change technological development and spillovers in the Nordic economies

Rahko, Jaana; Alola, Andrew Adewale, 2023, Journal of cleaner production, 434, 140028, https://doi.org/10.1016/j.jclepro.2023.140028, A1 Journal article (peer-reviewed)

Research projects

Project Duration Actors
Investigame - Economics, Smart electric systems, Accounting and Finance, Technology and Innovations
CEE4WES - Circular Economy Ecosystem for Waste-to-Energy Sector - VEBIC, Strategic business development, Economics, Management, Accounting and Finance, Smart electric systems
GLOBALINTO - Economics, Accounting and Finance

Research group members

Kuva
Hannu Piekkola

Hannu Piekkola

Professor, Economics
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Puhelin
+358294498426
Toimisto
Fabriikki F328
Open profile page
Kuva
Panu Kalmi

Panu Kalmi

Professor
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Puhelin
+358294498528
Toimisto
Fabriikki F329
Open profile page
Kuva
Juuso Vataja

Juuso Vataja

University Lecturer
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Puhelin
+358294498515
Toimisto
Fabriikki F327
Open profile page
Kuva
Petri Kuosmanen

Petri Kuosmanen

University Lecturer
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Puhelin
+358294498493
Toimisto
Fabriikki F325
Open profile page
Kuva
Jaana Rahko

Jaana Rahko

Assistant Professor (tenure track)
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Puhelin
+358294498505
Toimisto
Fabriikki F324
Open profile page
Kuva
Gökhan Buturak

Gökhan Buturak

Postdoctoral Researcher
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Puhelin
+358294498536
Toimisto
Fabriikki F321
Open profile page
Kuva
Saija Alanko

Saija Alanko

Project Researcher
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Toimisto
Fabriikki
Open profile page
Kuva
Saara Hämäläinen

Saara Hämäläinen

Teacher
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Open profile page
Kuva
Antti Norkio

Antti Norkio

Teacher
Levón Institute, Open University
firstname.lastname@uwasa.fi
Puhelin
+358294498599
Open profile page
Kuva
Lauri Parikka

Lauri Parikka

Teacher
School of Accounting and Finance, Economics
firstname.lastname@uwasa.fi
Toimisto
Tervahovi D232
Open profile page
Kuva
Saara Vaahtoniemi

Saara Vaahtoniemi

Teacher
Levón Institute, Open University
firstname.lastname@uwasa.fi
Open profile page