Renewable Energy and Economic Growth: Evidence from European Countries

Ntanos, Stamatiοs; Skordoulis, Michalis; Kyriakopoulos, Grigorios L.; Arabatzis, Garyfallos; Chalikias, Miltiadis; Galatsidas, Spyridon; Batzios, Athanasios; Katsarou, Apostolia

doi:10.3390/su10082626

Cited by 249 publications

(151 citation statements)

References 46 publications

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“…The authors of the papers of [25][26][27][28][29] proved the relationship between the ecological, social, and economic indicators which influence a country's GDP. The scientists proved that the link between social indicators [30][31][32], ecological indicators, which included the efficiency of RESs [13,18,22,31,33], and macroeconomic stability in low-middle-income countries existed [34,35].…”

Section: Introductionmentioning

confidence: 99%

Linking between Renewable Energy, CO2 Emissions, and Economic Growth: Challenges for Candidates and Potential Candidates for the EU Membership

et al. 2019

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This paper investigates the impact of renewable energy sources (RESs), CO2 emissions, macroeconomics, and the political stability in a country on the Gross Domestic Product (GDP). The authors analyse the dynamics of RESs use, CO2 emissions, and GDP development and also test the following hypotheses: (1) The country’s economic growth is related to the energy consumption, in terms of both human resources and capital; (2) the share of the renewable energy consumption of the total energy consumption has a positive impact on the economic growth; and (3) the share of the renewable energy consumption of the total energy consumption is unrelated to the economic growth. To test the above hypotheses, the authors use the modified Cobb-Douglas production function, which also considers RES production volumes, CO2 emissions, and economic growth. The study employs data between 1995 to 2015 from the candidate and potential candidate countries for the EU membership. The data are drawn from the World Bank and Eurostat. The analyses entail panel unit root tests, Pedroni panel cointegration tests, fully modified OLS (FMOLS), dynamic OLS (DOLS) panel cointegration techniques, and the Vector Error Correction model (VECM). The findings confirm the relationship between RESs, CO2 emissions, and the GDP. For the EU countries, RESs as human resources and capital have an impact on the GDP. Moreover, the results reveal a correction retraction when the economic growth leads to an increase in renewable energy consumption. The investigation also finds that candidate and potential candidate countries for the EU membership should foster renewable energy development. The authors conclude that developing affordable and effective instruments and mechanisms to boost the RES implementation is necessary to decrease the anthropogenic impact on the environment (in particular, decreasing CO2 emissions) without any attendant reduction in the economic growth.

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Section: Introductionmentioning

confidence: 99%

Linking between Renewable Energy, CO2 Emissions, and Economic Growth: Challenges for Candidates and Potential Candidates for the EU Membership

et al. 2019

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“…There is a growing scientific evidence that indicates that greenhouse gas (GHG) emissions from human-related activities are the main causes of global warming [6,[12][13][14][15]. Furthermore, in recent studies, there is evidence that a positive relationship exists between carbon emissions, energy consumption and economic development [16][17][18]. GHGs which help to absorb and emit radiation within the thermal infrared range mainly consist of carbon dioxide, methane and nitrous oxide [8,[19][20][21].…”

Section: Introductionmentioning

confidence: 99%

Determinants of Voluntary Greenhouse Gas Emission Disclosure: An Empirical Investigation on Turkish Firms

Akbaş

Canikli

2018

Sustainability

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Firms worldwide have been facing an increasing pressure to disclose their Greenhouse Gas (GHG) emissions since GHG emissions are seen as the main source of global warming which is one of the most challenging problems that the world is faced with. For this reason, voluntary GHG disclosure represents a growing area of research interest. However, the existing research generally focuses on developed countries. In this sense, the present paper aims to contribute to the existing GHG disclosure literature by analyzing the determinants of voluntary disclosure of firms operating in a developing country, Turkey. The effects of both financial characteristics and board structures of firms on voluntary disclosure decisions are analyzed as the possible determinants of GHG disclosures of Turkish firms. We use two proxies for assessing the firms’ GHG disclosures. The first proxy, “sensitiveness tendency”, indicates the response behavior of firms to the Carbon Disclosure Project (CDP) survey. The second proxy, namely, “transparence tendency”, represents the disclosure behavior of firms. Using logistic regression models with a sample of 84 listed Turkish companies which were included in the Carbon Disclosure Project survey in 2014, 2015 and 2016, we find that firm size, institutional ownership and market value are positively related to the sensitivity of sampled firms, while board size is negatively related. On the other hand, our results indicate that firm size, profitability and institutional ownership have positive impacts on the transparency of Turkish listed firms.

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“…Table 1 also shows the download sources for each indicator, as data were collected from different sources, i.e., the United Nations [22], the World Bank [23], Eurostat [24], and FAO [25] websites. When analyzing the sustainable development, we mainly chose to analyze a specific area, such as gas emission [28][29][30][31], energy [32][33][34], agriculture [35][36][37][38][39], health care systems [40][41][42], etc. The aim of this paper is to simultaneously capture all available economic, social, and environmental indicators of the sustainable development of EU countries in order to get comprehensive insight into each EU country and their similarities and differences.…”

Section: Methodsmentioning

confidence: 99%

Evaluation of Sustainable Development Management in EU Countries

et al. 2019

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The term sustainable development is used in many areas and spheres of life and is becoming a modern phenomenon determining the direction of progress of every society. Sustainable development implies continuous economic development with respect to environmental principles and focuses on overcoming conflicts between economy and ecology. The aim of this paper is to evaluate sustainable development management in EU countries through selected indicators characterizing sustainable development and its core dimensions. We present the results of an evaluation of the sustainable development of EU countries using cluster analysis. Countries that are similar in terms of sustainability are identified by cluster analysis. Four clusters were separated, the affiliation of each country to a particular cluster was determined, and the characteristics of each cluster were defined. The goal of sustainability management is to create an adequate approach to development of the economic and environmental performance, and therefore achieve sustainability. The achievements of most developed countries should be an incentive for those that are at a lower level of development. In addition, this research provides insight into some specific goals of sustainable development where some countries are lagging behind. This could be the basis for directing efforts in specific areas of sustainable development to improve their own position in such an important global issue.

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Renewable Energy and Economic Growth: Evidence from European Countries

Cited by 249 publications

References 46 publications

Linking between Renewable Energy, CO2 Emissions, and Economic Growth: Challenges for Candidates and Potential Candidates for the EU Membership

Linking between Renewable Energy, CO2 Emissions, and Economic Growth: Challenges for Candidates and Potential Candidates for the EU Membership

Determinants of Voluntary Greenhouse Gas Emission Disclosure: An Empirical Investigation on Turkish Firms

Evaluation of Sustainable Development Management in EU Countries

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