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This study relies on a recently proposed methodology for constructing an
environmental performance index. First, two different versions of the index are
considered and compared having as reference point Greece and comparing it with
other countries in the Mediterranean as well as in Northern Europe. Next, the index
is used with some socioeconomic variables together with various cultural dimensions
to model its behavior. Examining the relationship between the index and
economic growth, we observe an inverted U-shape in the case of the Globe and
Middle East and Africa, an N-shape for Europe while such a relationship is not
found for Asia and Oceania. The turning points are high in all cases but their values
are within the sample. The most important explanatory variable seems to be the life
expectancy with a very high positive effect in all cases. The population density
affects negatively the Environmental Performance Index but with a very low
magnitude. Concerning the cultural dimensions, masculinity and power distance
proved to be statistically insignificant with individualism and uncertainty avoidance
affecting negatively Middle East and Africa and Europe, respectively, and positively
Asia and Oceania; long-term orientation and indulgence affect negatively
Asia and Oceania, with the latter affecting negatively also the Globe.