Economic growth, energy consumption and CO2 emissions in the countries of the European Union and the Western Balkans

Pejović, Bojan; Karadžić, Vesna; Dragasevic, Zdenka; Backović, Tamara

doi:10.1016/j.egyr.2021.05.011

Cited by 61 publications

(20 citation statements)

References 40 publications

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“…This means that lower-cost environmental protection technologies are favored by the advanced technological innovation sector. In addition, the recent literature is consistent with our findings, that is, the importance of technological innovation to the promotion of clean energy, which regards technological innovation as a prerequisite for promoting clean energy (Blondeau and Mertens, 2019;Pejović et al, 2021). Therefore, advanced technological innovation can easily promote the development of renewable projects, which is a necessary prerequisite for the development of renewable energy (Goh and Ang, 2018).…”

Section: Panel Quantile Regressionsupporting

confidence: 90%

Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

et al. 2021

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The threats of climatic change on life, health, and the environment have been regarded by the joint consensus of scholars in the recent decades. With the advancement of global green development, green finance has paved the way for the government to respond to the challenges of climate change by providing mature financial services, appropriate financing, investment, and project funds related to environmental protection. In this context, green finance was proposed, and the relationship between green finance, renewable energy, and carbon emissions in the BRICS countries from 2000 to 2018 was further studied based on the quantile regression model. The presence of cross-sectional dependence in panel results is tested through CD and LM methods. The findings show the negative effect of green finance and non-fossil energy consumption on CO2 emissions. Furthermore, economic growth, trade openness, energy consumption, and foreign direct investment increase the CO2 emissions. Finally, the research results confirm that green finance is the best financial strategy to reduce carbon dioxide emissions.

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Section: Panel Quantile Regressionsupporting

confidence: 90%

Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

et al. 2021

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“…Menegaki (2011) demonstrated the same bidirectional causality between GDP growth and CO 2 emissions for a panel of 27 EU countries and unidirectional causality from energy to GDP growth, while Dong et al (2018) found the same bidirectional causality for European countries. Pejović et al (2021) also align with our results, as they demonstrated a two-way causality between GDP growth and CO 2 emissions in the EU and Western Balkans countries.…”

Section: Resultssupporting

confidence: 92%

“…There is no connection between energy and economic growth in the short run, neither in Greece nor Bulgaria. This paper contributes to the existing literature as the topic of examining economy-environment-energy links in the SEE region is underrepresented in the literature, aside from just a few studies (Pejović et al 2021;Bellos, 2019;Obradović & Lojanica, 2017;Dominković et al 2016;and Mitić & Cvetanović, 2018). Hence, it is an intriguing topic, especially since many developing and developed countries see cutting CO 2 emissions as a foremost economic strategy (Lau et al 2018).…”

Section: Literature Reviewmentioning

confidence: 99%

The relationship between CO2 emissions, economic growth, available energy, and employment in SEE countries

Mitić

Fedajev

Rădulescu

et al. 2022

Environ Sci Pollut Res

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As a result of a greater worldwide aspiration for wealth and economic progress, increased use of natural resources for diverse industries resulted in increased pollution emissions, mainly carbon dioxide. Energy security, economic stability, job security, biodiversity loss, climate change, and global warming all require reconciliation and resolution now, more than ever before. This paper explores the causal relationship between CO 2 emissions, economic growth, available energy, and employment for a panel of eight South-Eastern European countries from 1995 to 2019. We investigate the relationship using panel unit root tests, panel cointegration methods, and panel causality tests. The results show a short-run bidirectional panel causality between CO 2 emissions and employment and between available energy and employment. The results further indicate a unidirectional causality from available energy and employment to GDP. The long-run causal relationship results show that the estimated coefficients of the lagged ECT in the CO 2 emissions, GDP, and employment equations are statistically significant, implying that these variables could play a significant role in the system's adjustment process as it departs from long-run equilibrium. We also conducted a variance decomposition analysis, which allowed us to compare the extent of the individual factors' contributions to each other over the next 5 years.

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“…The experiential findings demonstrate that improvements in environmental competence are more satisfying in industries with a high level of adoption of environmentally friendly technologies. Pejović et al ( 2021 ) conducted research in the United States covering the years 1963–2010 to investigate the effect of economic growth, technological advancement, and CO 2 emissions on each other over the long term. According to empirical research findings, a rise in income is accompanied by a fall in CO 2 emissions due to technological advances in production.…”

Section: Literature Reviewmentioning

confidence: 99%

Nexus Between Financial Development, Renewable Energy Investment, and Sustainable Development: Role of Technical Innovations and Industrial Structure

Xiang

Akhtar

2022

Front. Psychol.

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Significant challenges confronting China include reducing carbon emissions, dealing with the resulting problems, and meeting various requirements for long-term economic growth. As a result, the shift in industrial structure best reflects how human society utilizes resources and impacts the environment. To meet China's 2050 net-zero emissions target, we look at how technological innovations, financial development, renewable energy investment, population age, and the economic complexity index all play a role in environmental sustainability in China. Analyzing short- and long-term relationships using ARDL bounds testing, we used historical data spanning 1990–2018. According to the study's findings, the cointegration between CO2 emissions and their underlying factors was found. The deterioration of the environment directly results from financial development, increasing economic complexity, and population aging. Technical advancements, investments in renewable energy sources, and changes to the industrial structure all contribute to lower CO2 emissions. Granger causality results were also reliably obtained in this study. According to our findings in the fight against environmental problems, a key tool for meeting long-term sustainability goals is policy prescriptions that use technological innovations, renewable energy investment, and industrial structure.

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Economic growth, energy consumption and CO2 emissions in the countries of the European Union and the Western Balkans

Cited by 61 publications

References 40 publications

Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

The relationship between CO2 emissions, economic growth, available energy, and employment in SEE countries

Nexus Between Financial Development, Renewable Energy Investment, and Sustainable Development: Role of Technical Innovations and Industrial Structure

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