Renewable energy consumption and economic growth. Causality relationship in Central and Eastern European countries

Marinaș, Marius-Corneliu; Dinu, Marin; Socol, Aura-Gabriela; Socol, Cristian

doi:10.1371/journal.pone.0202951

Cited by 160 publications

(96 citation statements)

References 56 publications

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“…Therefore, promoting new energy consumption bears benefits not only for the environment but also for the economic conditions of the countries. Apergis and Payne (2010) [13], Lin and Moubarak (2014) [14], Rafindadi and Ozturk (2017) [15], and Marinas et al (2018) [16] indicated that there is positive bi-directional long run relationship between new energy consumption and economic growth by using data from Organization for Economic Co-operation and Development (OECD) countries, China, Germany, and South Africa, respectively. The bi-directional relationship between new energy consumption and economic growth implied that growing economy is propitious for the development of new energy sector which in turn helps to boost economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

Threshold Effects of New Energy Consumption Transformation on Economic Growth

2018

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This study uses data from seven countries with high energy consumption levels in 1997–2016 (i.e., the US, China, Japan, Canada, South Korea, Germany, and France) to establish a panel threshold model and analyze the multiple threshold effects of new energy consumption transformation on economic growth. Research results show the non-linear impact of new energy consumption transformation on economic growth. On the one hand, the transformation of new energy consumption will occasionally bring economic costs, thereby resulting in a negative impact on economic growth. On the other hand, economic cost occasionally disappears, thereby resulting in the positive impact of the transformation of new energy consumption on economic growth. This study proposes that economic cost is affected by the levels of research and development (R&D), economic development, and traditional energy dependence, therefore, we use these three variables as threshold variables. Threshold variable is essential in a panel threshold model. The behavioral varies of model can be predicted when threshold variable is at different ranges of levels. In other words, the behavior of panel threshold model may change as the level of threshold variable changes. In particular, when the R&D level is used as a threshold variable, the impact of new energy consumption transformation on economic growth will change from negative to positive as the level of R&D increases. We present a similar conclusion when the level of economic development is used as a threshold variable. However, when the level of traditional energy dependence is used as the threshold variable, the impact of new energy consumption transformation on economic growth will change from positive to negative as the level of traditional energy dependence increases.

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Section: Literature Reviewmentioning

confidence: 99%

Threshold Effects of New Energy Consumption Transformation on Economic Growth

2018

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“…In the study by Marinaș, Dinu, Socol, and Socol (2018), the relationship between economic growth and renewable energy sources in central and eastern Europe was investigated from 1990 to 2014. The results of the study using the ARDL method, both short and long term, determined that there was a significant relationship between the variables.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Renewable Energy on GDP

Abdullah¹,

Javed²,

Ashraf³

et al. 2020

International Journal of Management and Sustainability

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“…Furthermore, the results revealed a unidirectional causality flowing from renewable energy consumption to economic growth in the longrun. Marinaș, Dinu, Socol and Socol (2018) tested the correlation between economic growth and renewable energy consumption for ten European Union (EU) member states from Central and Eastern Europe (CEE) in the period 1990 to 2014, using Autoregressive and Distributed Lag (ARDL) modeling procedure, a technique that captures causal relationships both on a short run and on a long run. They found that in the short run, the Gross Domestic Product (GDP) and Renewable Energy Consumption (REC) dynamics are independent in Romania and Bulgaria, while in Hungary, Lithuania, and Slovenia an increasing renewable energy consumption improves the economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

Renewable energy consumption and economic growth in Nigeria: any causal relationship?

Azeakpono¹,

Lloyd²

2020

BMR

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This study examined the effect of renewable energy consumption on economic growth in Nigeria for the period 1990 to 2016. It further investigated the direction of causality between renewable energy consumption and economic growth in Nigeria. This was with a view to providing information on the relationship between renewable energy consumption and economic growth in Nigeria within the period of the study. Data collected was analysed using both descriptive analysis and econometric technique, which included unit root, correlation, co-integration, regression, and granger causality tests. The result showed that although renewable energy consumption and economic growth increased between 1990 and 2016 in Nigeria, renewable energy consumption had no significant positive impact on economic growth in Nigeria. Furthermore, there was no causality between renewable energy consumption and economic growth in Nigeria during the period of study. The study concluded that renewable energy consumption exerted an insignificant negative impact on economic growth in Nigeria. We recommend that investing in renewable energy should be encouraged and enhanced as this may be a way to reduce domestic fossil fuel consumption or to meet increasing energy demand without an increase of domestic fuel consumption to increase fuel exports and thus for higher revenues.

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Renewable energy consumption and economic growth. Causality relationship in Central and Eastern European countries

Cited by 160 publications

References 56 publications

Threshold Effects of New Energy Consumption Transformation on Economic Growth

Threshold Effects of New Energy Consumption Transformation on Economic Growth

The Impact of Renewable Energy on GDP

Renewable energy consumption and economic growth in Nigeria: any causal relationship?

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