scholarly journals The Role of the Key Components of Renewable Energy (Combustible Renewables and Waste) in the Context of CO2 Emissions and Economic Growth of Selected Countries in Europe

Energies ◽  
2021 ◽  
Vol 14 (8) ◽  
pp. 2034
Author(s):  
Shahjahan Ali ◽  
Shahnaj Akter ◽  
Csaba Fogarassy
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Co2 Emissions ◽  
Energy Production ◽  
Negative Impact ◽  
Biomass Energy ◽  
Gdp Growth ◽  
Eu Countries ◽  
Per Capita ◽  
Visegrád Countries

In the case of developing countries, it is not clear which crisis management tools will ensure sustainable development in a sustainable and environmentally friendly way, as well as reducing CO2 emissions in addition to ensuring GDP growth. The next analysis discusses the details of this issue. The study explores the connection between per capita GDP, emission of CO2, combustible energy, and waste consumption. The Hausman test ratifies that the regression model with the fixed effect is the proper method for the panel balanced data from 1990 to 2019 in the selected 13 countries of the EU. This study ordered the data into three categories (for 13 selected countries, the top nine EU countries (in GDP), and Visegrad countries (Hungary, Slovakia, Czech Republic and Poland)). The study found a significant positive effect of combustible energy and waste consumption and the negative impact of CO2 emission on GDP per capita. The cointegration test confirms that all three variables are cointegrated. This implies a long-term link among all three variables in the context of all three types of the selected panel. The Granger causality results ensure that there is a two-way cause–effect relation between the variables. The study strongly recommends that developed European Union countries (the top nine EU countries) increase energy production from biomass-based renewable energy and waste to stimulate economic growth. The same strategy was not recommended in the Visegrad countries because of the much lower GDP growth due to the N-shaped Kuznets curve. In these countries, it is advisable to avoid unexpected increases in CO2 emissions from biomass and fossil fuel-burning, to achieve greenhouse gas reductions using other circular, platform-based models instead of simple biomass energy production. Due to the low level of energy efficiency and the lack of application of technological innovation, the energy use of biomass can significantly slow down GDP growth in less developed EU countries (such as the V4 countries).

scholarly journals Does the Increase in Renewable Energy Influence GDP Growth? An EU-28 Analysis

Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 4762
Author(s):  
Daniela Nicoleta Sahlian ◽  
Adriana Florina Popa ◽  
Raluca Florentina Creţu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Greenhouse Gases ◽  
Negative Impact ◽  
Gdp Growth ◽  
Panel Analysis ◽  
Renewable Sources ◽  
Per Capita ◽  
Near Future ◽  
The Eu

The aim of our study was to analyze whether the increase in the use of renewable energy can help GDP growth. The research carried out shows that renewable energy has the ability to decrease or neutralize the negative impact of greenhouse gases (GHG), but also to maintain economic growth. We focused our analysis on the EU-28 as we know that the EU Commission’s aim, in the near future, is to join forces to reduce the GHG used and move to renewable sources. We used a panel analysis with data between 2000 and 2019 from all Member States, and our results showed that their economic growth is influenced positively by the production of renewable energy, the GHG per capita, and the GHG intensity per GDP.

scholarly journals ENVIRONMENTAL KUZNETS CURVE HYPOTHESIS IN SELECTED EU COUNTRIES: KYOTO EFFECT

2019 ◽  
Vol 2 (2) ◽  
pp. 134-139
Author(s):  
​Cuma Bozkurt ◽  
İlyas Okumuş
Keyword(s):  
Energy Consumption ◽  
Environmental Pollution ◽  
Co2 Emissions ◽  
Trade Openness ◽  
Gdp Growth ◽  
Ekc Hypothesis ◽  
Eu Countries ◽  
Dummy Variable ◽  
Real Gdp ◽  
Per Capita

The purposes of this study is to investigate the relationship between per capita CO2 emissions, per capita energy consumption, per capita real GDP, the squares of per capita real GDP, trade openness and Kyoto dummies in selected 20 EU countries over the periods from 1991 to 2013 in order to analyze the connection between environmental pollution and Kyoto Protocol using Environmental Kuznets Curve (EKC) framework. According to EKC hypothesis, there is an inverted-U shape relation between environmental pollution and economic growth. Generally, the relationship between environmental pollution, per capita GDP and energy consumption has been analyzed for testing EKC hypothesis. In this study, it is used dummy variable to analyze the effects of Kyoto protocol on environmental degradation in the context of EKC hypothesis model. The dummy variable indicates Kyoto Protocol agreement year 2005. The results show that there is long run cointegration relationship between CO2, energy consumption, GDP growth, and the squares of GDP growth, trade openness and Kyoto dummy variable. Energy consumption and GDP growth increase the level of CO2 emissions. On the contrary, Kyoto dummy variable de­creases CO2 emissions in EU countries. In addition, the results reveal that the squares of per capita real GDP and trade openness rate are statistically insignificant. As a result of analysis, the inverted-U shape EKC hypothesis is invalid in these EU countries over the periods from 1991 to 2013.

scholarly journals Inequality in the Income of the Population as a Determinant of the Country's Economic Growth

2020 ◽  
Vol 68 (6) ◽  
pp. 987-994
Author(s):  
Tamara Kocurová ◽  
David Hampel
Keyword(s):  
Economic Growth ◽  
Cluster Analysis ◽  
Regression Analysis ◽  
Income Inequality ◽  
Economic Performance ◽  
Negative Impact ◽  
Gdp Per Capita ◽  
Ratio Analysis ◽  
Eu Countries ◽  
Per Capita

In this article, there is explored the dependence of economic performance and economic growth on income inequality expressed by Gini coefficient and S80/S20 ratio. Analysis is based on data collected upon EU countries in years 2007, 2012 and 2017. Cluster analysis points out to heterogeneity of EU countries in observed characteristics and enables creation of three groups of countries: post-socialistic, southern and northern. Regression analysis, which takes into account groups of countries, was used to assess and illustrate the dependence. The results show that income inequality has a negative impact on the country's GDP per capita, and its impact on economic growth differs for particular groups of countries.

scholarly journals Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests

Processes ◽  
2019 ◽  
Vol 7 (8) ◽  
pp. 496 ◽  
Author(s):  
Khan ◽  
Panigrahi ◽  
Almuniri ◽  
Soomro ◽  
Mirjat ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Co2 Emissions ◽  
Energy Production ◽  
Clean Energy ◽  
The Philippines ◽  
Least Square ◽  
Ordinary Least Square ◽  
Renewable Energy Production ◽  
Asean Countries

Understanding the dynamic nexus between CO2 emissions and economic growth in the sustainable environment helps the economies in developing resources and formulating apposite energy policies. In the recent past, various studies have explored the nexus between CO2 emissions and economic growth. This study, however, investigates the nexus between renewable energy production, CO2 emissions, and economic growth over the period from 1995 to 2016 for seven Association of Southeast Asian Nations (ASEAN) countries. Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Square (DOLS) methodologies were used to estimate the long- and short-run relationships. The panel results revealed that renewable energy production has a significant long term effect on CO2 emissions for Vietnam (t = −2.990), Thailand (t = −2.505), and Indonesia (t = −2.515), and economic growth impact for Malaysia (t = 2.050), Thailand (t = −2.001), and the Philippines (t = −2.710). It is, therefore, vital that the ASEAN countries implement policies and strategies that ensure energy saving and continuous economic growth without forsaking the environment. This study, as such, recommends that ASEAN countries should take measures to decrease the reliance on fossil fuels for achieving these objectives. Future research should consider the principles of circular economy and clean energy development mechanisms integrated with renewable energy technologies.

scholarly journals Assessing the Potential of Renewable Energy Production as a Driver of Economic Growth

2021 ◽  
Vol 7 (522) ◽  
pp. 146-152
Author(s):  
V. I. Vostriakova ◽  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Production ◽  
Alternative Energy ◽  
Positive Impact ◽  
Renewable Energy Sources ◽  
Gdp Per Capita ◽  
Energy Sources ◽  
Correlation Relationship ◽  
Per Capita

The presented article aims to study the relationship between consumption and production of renewable energy and economic growth expressed in GDP per capita of the countries that invest the most in the development of renewable energy (USA, EU, China), and in the global dimension – for comparison with Ukraine and Russia. The World Bank’s secondary data for 1990-2015 and methodology of linear regression modeling were used for the research. An analytical review of the growing global investment potential of renewable energy in terms of general dynamics, sectors and leading countries in the context of investments in renewable energy sources was carried out. The results of correlation-regression analysis demonstrate a high correlation relationship between alternative energy consumption and economic growth of more developed countries with high GDP per capita than countries with lower GDP. The findings are consistent with other publications reviewed in the research. In addition, the increase in both China’s and the world’s GDP in the share of alternative energy production has a positive impact, and the increase in the share of consumption is negative. Whereas at the level of such countries as the USA, the European Union and Ukraine – on the contrary, consumption itself has a positive impact. The development of alternative energy has a negative impact on the economic growth of the Russian Federation in both indicators. According to the results of the carried out study, it can be summarized that countries with both high and low GDP should take all necessary measures to increase consumption and production of renewable energy sources, which provides for the formation of a favorable investment climate for large-scale investments in renewable energy, which, in turn, will lead to an increase in the pace of economic growth in the long term.

scholarly journals IPCC baseline scenarios have over-projected CO2 emissions and economic growth

2020 ◽  
Author(s):  
Matthew G. Burgess ◽  
Justin Ritchie ◽  
John Shapland ◽  
Roger Pielke
Keyword(s):  
Economic Growth ◽  
Co2 Emissions ◽  
Climate Science ◽  
Carbon Intensity ◽  
Gdp Growth ◽  
Baseline Scenario ◽  
Per Capita Gdp ◽  
Science And Policy ◽  
Catch Up ◽  
Per Capita

Scenarios used by the Intergovernmental Panel on Climate Change (IPCC) are central to climate science and policy. Recent studies find that observed trends and International Energy Agency (IEA) projections of global CO2 emissions have diverged from emission scenario outlooks widely employed in climate research. Here, we quantify the bases for this divergence, focusing on Kaya Identity factors: population, per-capita GDP, energy intensity (energy consumption/GDP), and carbon intensity (CO2 emissions/energy consumption). We compare 2005-2017 observations and IEA projections to 2040 of these variables, to “baseline” scenario projections from the IPCC’s Fifth Assessment Report (AR5), and from the Shared Socioeconomic Pathways (SSPs) used in the upcoming Sixth Assessment Report (AR6). We find that the historical divergence of observed CO2 emissions from baseline scenario projections can be explained largely by slower-than-projected per-capita GDP growth—predating the COVID-19 crisis. We also find carbon intensity divergence from baselines in IEA’s projections to 2040. IEA projects less coal energy expansion than the baseline scenarios, with divergence expected to continue to 2100. Future economic growth is uncertain, but we show that past divergence from observations makes it unlikely that per-capita GDP growth will catch up to baselines before mid-century. Some experts hypothesize high enough economic growth rates to allow per-capita GDP growth to catch up to or exceed baseline scenarios by 2100. However, we argue that this magnitude of catch-up may be unlikely, in light of: headwinds such as aging and debt, the likelihood of unanticipated economic crises, the fact that past economic forecasts have tended to over-project, the aftermath of the current pandemic, and economic impacts of climate change unaccounted-for in the baseline scenarios. Our analyses inform the rapidly evolving discussions on climate and development futures, and on uses of scenarios in climate science and policy.

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