The Energy-GDP Nexus in EU Countries

Abstract

The neutrality hypothesis between the energy consumption and the economic activity is examined for the panel of EU-27 countries and selected sub-panels. The causality runs from the energy consumption to the GDP for the EU-27, but the causality from the GDP to the energy consumption cannot be confirmed. The evidence therefore speaks for the rejection of the neutrality hypothesis in favor of the growth hypothesis. These results differ between the original (EU-15) and the new EU member countries (EU-12). In the original member countries, there is a tendency to increase the economic growth with the energy consumption savings. In the new member countries a negative impact of the energy consumption savings on the economic growth is found. Examining the sectoral energy consumption, the main drivers of the causality in the relationship are identified as the residential sector, industry and services. The residential energy consumption savings appear to increase the economic growth in both original and new member countries. But the role of the energy consumption savings in the industrial and services sectors differs across the groups. For the industrial sector, the energy consumption savings increase economic growth in the original member countries. In the new member countries, energy conservation might hinder the economic growth. In services, the energy consumption does not seem to have an impact in the original member countries, while in the new member countries the savings in energy consumption seem to degrade the economic growth. The energy conservation policies might be beneficial for the more developed countries of EU-15, but not for the less developed countries of EU-12.

Ambivalent changes in the correlation of energy consumption and economic growth in the member states of the European Union (2010–2019)

“…According to the author of the present paper, the following studies [ [42] , [43] , [44] , [45] , [46] ], for example, incorrectly consider GDP developments at non-PPS prices and GDP changes. Often, researchers take GDP at current prices, but then GDP does not accurately reflect the real output of the economy due to changes in market prices.…”

Open source acoustofluidics

“…Both of the acoustofluidic device types used in this work were fabricated using similar methods, both relying on soft lithography techniques. The sole difference is that the solid master molds used to create the sharp-edge based devices were created using a deep reactive-ion etching (DRIE) process, 35 whereas the mold for the bubble based devices relied on a basic SU-8 photolithography process. 24 The differences in fabrication requirements arises from the fact that the small feature size in the sharp-edge based system requires a higher aspect ratio that can only be achieved with the DRIE process.…”

“…In combination with the portable power supply and syringe pump, this system could be used to isolate particles of interest from biological samples for POC diagnosis. 21,35 As an additional example of the expandable nature of the Arduino system, we integrated a camera and lens system to enable portable microscopic imaging. To achieve this, we combined a 5 MP Arduino compatible camera (0V5642, Arducam) with a low-cost microscope lens system designed for use with cell phones (CML-60X-100X-BL-01, Efanr®).…”