scholarly journals Consumption of Renewable Energy and Economic Growth

2017 ◽  
Author(s):  
Agnė Šimelytė ◽  
Gitana Dudzevičiūtė
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Renewable Energy ◽  
Production Factors ◽  
The World ◽  
European Union Countries ◽  
Energy Trade ◽  
The Impact ◽  
State Of Art

The significance of renewable energy is highly recognized all over the world. However, the impact of consuming renewable energy on the economy is very often disputable and contravercial. The paper explores links between consumption of renewable energy, economic growth, trade, capital and labour. The study covers 28 European Union countries for the period from 1990 to 2012. Energy has been considered as one of production factors, which has a great impact on output. Thus, the neo-classical Cobb-Douglas function has been employed to reach the aim of the article. Following the relevant state-of-art, economic growth, consumption of renewable energy, trade, capital and labour are considered as separate factors. The analysis indicates that consumption of renewable energy boots economy in 12 countries out of 28. The neutrality hypothesis has been confirmed in 2 countries, while the conservation hypothesis has been proved in 6 cases. The weakest links between the consumption of renewable energy and other factors has been noticed in Luxembourgh’s case.

scholarly journals The impact of logistics sector on sustainable development

2019 ◽  
pp. 75-81
Author(s):  
Deimantė Šulskytė
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Sustainable Development ◽  
Global Economy ◽  
Theoretical Concepts ◽  
Global Competitiveness ◽  
European Union Countries ◽  
Comprehensive Development ◽  
Macroeconomic Indicators ◽  
The Impact

In the context of global economy, logistics activities are necessary for ensuring the global competitiveness of other sectors and comprehensive development of the country. In the recent years, the concept of sustainable development is changing the meaning of economic growth. Taking into account the meaning of logistics and principles of sustainable development, the main aim of the article is to assess the impact of the logistics sector on sustainable development. In order to achieve this aim, theoretical concepts of sustainable development, logistics and its relationship are revealed , as well as key macroeconomic indicators and indices are identified and applied when evaluating the impact of logistics sector on sustainable development. The findings indicate that in the context of European Union countries, logistics sectors related with transport and IT factors significantly influence different indices of sustainable development.

scholarly journals Government expenditure and economic growth in the European Union countries: New evidence

2017 ◽  
Vol 36 (36) ◽  
pp. 127-133 ◽  
Author(s):  
Marta Pascual Sáez ◽  
Santiago Álvarez-García ◽  
Daniela Castañeda Rodríguez
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Government Spending ◽  
Government Expenditure ◽  
The European Union ◽  
The Public ◽  
European Union Countries ◽  
The Impact ◽  
New Evidence ◽  
The Relationship

AbstractThis paper provides new evidence of the impact of government spending on economic growth in the European Union countries. Governments can adjust their levels of spending in order to influence their economies, although the relationship between these variables can be positive or negative, depending on the countries included in the sample, the period of estimation and the variables which reflect the size of the public sector. The results obtained based on regression and panel techniques suggest that government expenditure is not clearly related with economic growth in the European Union countries over the period 1994-2012.

scholarly journals The Sharing Economy in the Framework of Sustainable Development Goals: Case of European Union Countries

2021 ◽  
Vol 13 (15) ◽  
pp. 8312
Author(s):  
Vilma Karobliene ◽  
Vaida Pilinkiene
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Sustainable Development ◽  
Sustainable Development Goals ◽  
Economic Assessment ◽  
Sharing Economy ◽  
Economic Dimension ◽  
European Union Countries ◽  
Development Goals ◽  
The Impact

The aim of this research study was to establish a framework for the relationships between the sharing economy and the Sustainable Development Goals (hereinafter, SDGs) set by the United Nations. There are 17 SDGs with 169 targets, which, in the scientific literature, are classified into sustainability dimensions: economic, social, and environmental. Thus, the objective of the current research was to perform an economic assessment of the sharing economy in the context of SDGs by analyzing European Union countries with a particular emphasis on their economic growth. Although the sharing economy has been analyzed from different aspects in recent scientific articles, the impact of this phenomenon on national economies in the framework of SDGs is lacking. Firstly, based on the latest research on the sharing economy from the perspective of sustainable development, a theoretical model of the sharing economy was developed in this study. Secondly, SDG indicators in the economic dimension and other key economic growth variables for European Union countries were collected. Thirdly, a cluster analysis was performed to determine the impact of the sharing economy on European Union countries in terms of SDGs in the economic dimension. The current study contributes to the existing research by analyzing the sharing economy from the perspective of sustainable economic development and highlights that this business model positively impacts countries’ economic sustainability in terms of SDGs.

scholarly journals How does renewable energy consumption affect economic growth? Evidence from the European Union countries

2021 ◽  
Vol 129 ◽  
pp. 09005
Author(s):  
Natalia Davidson ◽  
Elizaveta Maksimova ◽  
Oleg Mariev
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Generalized Method Of Moments ◽  
Green Energy ◽  
The European Union ◽  
Renewable Energy Consumption ◽  
Eu Countries ◽  
The Impact

Research background: Fossil fuels are used at such a high rate that they are currently being depleted. Moreover, they are associated with a greenhouse effect leading to global warming. Meanwhile, green energy is naturally replenished and fosters sustainable development (Nelson and Starcher, 2015). However, the empirical evidence of the impact of green energy on economic growth is controversial (Adewuyi and Awodumi, 2017; Chen et al., 2020; Destek and Aslan, 2017; Zafar et al., 2018). Purpose of the article: This paper analyses the impact of renewable energy consumption on economic growth in the European Union (EU) countries. This is important in line with the goals of EU to shift towards green energy during the coming years (Directive (EU) 2018/2001). Methods: We use data of the World Bank and Our World in Data over 1990 to 2015 for 28 EU countries. We estimate the impact of renewable energy consumption on the countries’ gross domestic product. The control variables are labor force, research and development, and foreign direct investment. We apply the pooled mean group, mean group, the dynamic fixed effect estimators (Pesaran, 1997; Pesaran et al., 1999), and generalized method of moments (Arellano & Bond, 1991). Findings & Value added: Results show that the renewable energy consumption positively affects economic growth of the EU countries. We contribute by shedding light on the possibility to develop renewable energy, while achieving economic growth. The results have important implications for economic policy.

scholarly journals The impact of intra-industry trade on carbon dioxide emissions: The case of the European Union

2020 ◽  
Vol 66 (No. 5) ◽  
pp. 203-214 ◽  
Author(s):  
Nuno Carlos Leitão ◽  
Jeremiás Máté Balogh
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
European Union ◽  
Renewable Energy ◽  
Carbon Dioxide Emissions ◽  
Energy Use ◽  
Agricultural Land ◽  
The European Union ◽  
Industry Trade ◽  
The Impact

The reductions of climate change and greenhouse gas emissions are an essential objective of the European Union (EU) to achieving the reduction target by 20% by 2020. Along with energy consumption and agriculture, trade has a diverse impact on climate change. International trade usually negatively affects the environment, while the influence of intra-industry trade is more favourable. The paper investigates the impact of energy use, agriculture, and intra-industry trade on environmental pollution in EU countries using panel data for the period 2000–2014. The research frames the theoretical hypothesis that describing the relationship between agricultural intra-industry trade and climate change. The assumptions are confirmed by panel fixed effects, and Generalized Method of Moment (GMM) estimations, and the panel cointegration test. The empirical results have supported by the literature, and all variables used in this study are stationary applying panel unit root test. Results show that agricultural intra-industry trade, renewable energy is negatively correlated with climate change, confirming the less pollutant hypothesis, while economic growth and agricultural productivity induce environmental problems. This study confirms the theoretical hypotheses explaining the effect of intra-industry trade for agricultural products as well as the impacts of renewable energy use, agricultural land productivity, and economic growth on CO2 emissions.

scholarly journals Assessing the Level of Renewable Energy Development in the European Union Member States. A 10-Year Perspective

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3765
Author(s):  
Jarosław Brodny ◽  
Magdalena Tutak ◽  
Peter Bindzár
Keyword(s):  
European Union ◽  
Economic Development ◽  
Renewable Energy ◽  
Energy Development ◽  
The State ◽  
The European Union ◽  
Member States ◽  
Current State ◽  
Renewable Energy Development ◽  
European Union Countries

The global economic development is, to a great extent, dependent on access to large amounts of cheap energy sources. The growing social awareness of ecology and the enormous damage to the Earth’s ecosystem due to the production of energy from conventional sources have forced fundamental changes in the energy sector. Renewable energy is considered to be an opportunity for such changes. The current state of the art allows such changes to be made without restricting economic development. Therefore, activities related to the energy transition are being taken all over the world. The European Union has definitely managed to achieve the most tangible effects in this regard. This article presents the findings of the research aimed at presenting the current state of renewable energy in the European Union and analyzing the changes reported in this sector in the last decade. The research was carried out using a selected set of 11 indicators characterizing renewable energy in individual countries. These indicators were selected on the basis of literature review and own studies of the state of renewable energy and its development prospects. Based on these indicators, changes in the energy structure of individual European Union countries between 2008–2018 were determined. The study is divided into two main stages. The principal components analysis (PCA) was used for the first analysis. In turn, the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) was adopted to assess the level of renewable energy development in the European Union countries. Both these methods and the extended statistical analysis were applied to determine the state of renewable energy development in the European Union countries in the studied period and to divide the Member States into classes with different levels of development. The results of the study showed that the EU countries are characterized by significant differences in the development of RES during the period in question. The unquestionable leaders in this respect are Sweden, Austria, Finland, and Latvia. Based on the findings, it is possible to evaluate the effects of activities related to renewable energy development and to prepare assumptions for future activities. Additionally, both the research and its findings broaden the knowledge of the directions of renewable energy development in individual European Union countries. This is particularly important in the context of changes related to the need to reduce harmful substance emissions and the implementation of the European Green Deal idea.

scholarly journals The Relationship between Economic Growth and Pollution in Some New European Union Member States: A Dynamic Panel ARDL Approach

Energies ◽  
2021 ◽  
Vol 14 (9) ◽  
pp. 2363
Author(s):  
Mihaela Simionescu ◽  
Carmen Beatrice Păuna ◽  
Mihaela-Daniela Vornicescu Niculescu
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Ghg Emissions ◽  
Kuznets Curve ◽  
Renewable Energy Consumption ◽  
Panel Ardl ◽  
Domestic Credit ◽  
The Impact ◽  
The Relationship

Considering the necessity of achieving economic development by keeping the quality of the environment, the aim of this paper is to study the impact of economic growth on GHG emissions in a sample of Central and Eastern European (CEE) countries (V4 countries, Bulgaria and Romania) in the period of 1996–2019. In the context of dynamic ARDL panel and environmental Kuznets curve (EKC), the relationship between GHG and GDP is N-shaped. A U-shaped relationship was obtained in the renewable Kuznets curve (RKC). Energy consumption, domestic credit to the private sector, and labor productivity contribute to pollution, while renewable energy consumption reduces the GHG emissions. However, more efforts are required for promoting renewable energy in the analyzed countries.

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