Does Renewable Energy Matter for Economic Growth in Central and Eastern European Countries? Empirical Evidence from Heterogeneous Panel Cointegration Analysis

Olimpia Neagu; Cristian Haiduc; Andrei Anghelina

doi:10.2478/sues-2021-0003

Abstract

The aim of the paper is to provide empirical evidence in support of the relationship between renewable energy consumption and economic growth in eleven Central and Eastern European (CEE) countries over the period 1995-2015 within a multivariate panel data analysis. Based on World Bank data, the panel cointegration analysis reveals that renewable energy consumption and economic growth are positively associated in the long run in CEE countries. The heterogeneous panel causality test indicates a bi-directional causality relationship in support of the feedback hypothesis between economic growth and renewable energy consumption in Central and Eastern European countries.

References

1. Al-Mulali, U., Fereidouni, H.G., Lee, J. Sab, C.N.B., (2013), Examining the bidirectional long-run relationship between renewable energy consumption and GDP growth, Renewable and Sustainable Energy Reviews 22, 209-222. http://dx.doi.org/10.1016/j.rser.2013.02.00510.1016/j.rser.2013.02.005
Search in Google Scholar Back to article
2. Alper, A.; Oguz, O., (2016), The role of renewable energy consumption in economic growth: Evidence from asymmetric causality, Renewable Sustainable Energy Review 60, 953–959. http://dx.doi.org/10.1016/j.rser.2016.01.12310.1016/j.rser.2016.01.123
Search in Google Scholar Back to article
3. Anwar, A., Arshed, N., Kousar, N., (2017), Renewable Energy Consumption and Economic Growth in Member of OIC Countries, European Online Journal of Natural and Social Sciences, 6(1), 111-129. http://european-science.com/eojnss/article/view/4846 Accessed 20 November 2019.
Search in Google Scholar Back to article
4. Apergis, N., Payne, J.E., (2010a), Renewable energy consumption and economic growth: evidence from a panel of OECD countries, Energy Policy, 38(1), 656–660. doi:10.1016/j.enpol.2009.09.00210.1016/j.enpol.2009.09.002
Search in Google Scholar Back to article
5. Apergis, N., Payne, J.E., (2010b), Renewable energy consumption and growth in Eurasia, Energy Economics, 32 (6), 1392–1397. doi:10.1016/j.eneco.2010.06.00110.1016/j.eneco.2010.06.001
Search in Google Scholar Back to article
6. Apergis, N., Payne, J.E., (2010c), The causal dynamics between coal consumption and growth: evidence from emerging market economies, Applied Energy, 87(6), 1972–1977. doi:10.1016/j.apenergy.2009.11.03510.1016/j.apenergy.2009.11.035
Search in Google Scholar Back to article
7. Apergis, N., Payne, J.E., (2010d), Natural gas consumption and economic growth: a panel investigation of 67 countries, Applied Energy, 87(8), 2759–2763. doi:10.1016/j.apenergy.2010.01.00210.1016/j.apenergy.2010.01.002
Search in Google Scholar Back to article
8. Apergis, N., Payne, J.E., (2011a), The renewable energy consumption–growth nexus in Central America, Applied Energy, 88 (1), 343–347. doi:10.1016/j.apenergy.2010.07.01310.1016/j.apenergy.2010.07.013
Search in Google Scholar Back to article
9. Apergis, N., Payne, J.E., (2011b), On the causal dynamics between renewable and nonrenewable energy consumption and economic growth in developed and developing countries, Energy Systems, 2 (3-4), 299–312. DOI 10.1007/s12667-011-0037-610.1007/s12667-011-0037-6
Search in Google Scholar Back to article
10. Apergis, N., Payne, J.E., (2011c), Renewable and non-renewable electricity consumption-growth nexus: Evidence from emerging market economies, Applied Energy, 88(12), 5226-5230. doi:10.1016/j.apenergy.2011.06.04110.1016/j.apenergy.2011.06.041
Search in Google Scholar Back to article
11. Apergis, N., Payne, J.E., (2011d), Renewable energy consumption, growth, and economic development: an exploratory panel analysis, Advances in Energy Research, 9, 359–372. doi:10.1016/j.apenergy.2011.06.04110.1016/j.apenergy.2011.06.041
Search in Google Scholar Back to article
12. Apergis, N., Payne, J.E., (2012), Renewable and non-renewable energy consumption-growth nexus: evidence from a panel error correction model, Energy Economics, 34 (3), 733–738. doi:10.1016/j.eneco.2011.04.00710.1016/j.eneco.2011.04.007
Search in Google Scholar Back to article
13. Apergis, N., Danuletiu, D.C., (2014), Renewable energy and economic growth: evidence from the sign of panel long-run causality, International Journal of Energy Economics and Policy, 4(4), 578-587. https://www.econjournals.com/index.php/ijeep/article/view/879 Accessed 15 January 2020
Search in Google Scholar Back to article
14. Armeanu, V.Ș., Vintilă, G., Gherghina, Ș.C., (2017), Does Renewable Energy Drive Sustainable Economic Growth? Multivariate Panel Data Evidence for 28 EU countries, Energies, 10 (3), 381. doi:10.3390/en1003038110.3390/en10030381
Search in Google Scholar Back to article
15. Azlina, A., Law, D.H., Mustapha, N.H.N., (2014), Dynamic linkage among transport energy consumption, income and CO2 emission in Malaysia, Energy Policy, 73, 598-606. http://dx.doi.org/10.1016/j.enpol.2014.05.04610.1016/j.enpol.2014.05.046
Search in Google Scholar Back to article
16. Bayraktutan, Y., Yılgör M., Uçak, S., (2011), Renewable Electricity Generation and Economic Growth: Panel data Analysis for OECD Members, International Research Journal of Finance and Economics, 66, 59-67. http://akademikpersonel.kocaeli.edu.tr/ybayrak/sci/ybayrak09.05.2012_18.21.20sci.pdf. Accessed 15 February 2020
Search in Google Scholar Back to article
17. Bento, J.P.C., Moutinho, V., (2016), CO2 emissions, non-renewable and renewable electricity production, economic growth, and international trade in Italy, Renewable and Sustainable Energy Reviews, 55, 142–155. http://dx.doi.org/10.1016/j.rser.2015.10.15110.1016/j.rser.2015.10.151
Search in Google Scholar Back to article
18. Bhattacharya, M., Paramati, R. S., Ozturk, I., Bhattacharya, S., (2016), The effect of renewable energy consumption on economic growth: evidence from top 38 countries, Applied Energy, 162, 733-741. http://dx.doi.org/10.1016/j.apenergy.2015.10.10410.1016/j.apenergy.2015.10.104
Search in Google Scholar Back to article
19. Bobinaite, V., Juozapaviciene, A., Konstantinaviciute, I., (2011), Assessment of causality relationship between renewable energy consumption and economic growth in Lithuania, Engineering Economics, 22 (5), 510-518. https://doi.org/10.5755/j01.ee.22.5.96910.5755/j01.ee.22.5.969
Search in Google Scholar Back to article
20. Bozkurt, C., Destek, M., (2015), Renewable energy and sustainable development nexus in selected OECD countries, International Journal of Energy Economics and Policy, 5(2), 507-514. https://www.econjournals.com/index.php/ijeep/article/view/1159 Accessed 16 February 2020
Search in Google Scholar Back to article
21. Bulut, U., Muratoglu, G., (2018), Renewable energy in Turkey: Great potential, low but increasing utilization and empirical analysis on renewable energy-growth nexus, Energy Policy, 123, 240-250. https://doi.org/10.1016/j.enpol.2018.08.057.10.1016/j.enpol.2018.08.057
Search in Google Scholar Back to article
22. Chang, T., Gupta, R., Inglesi-Lotz, R., Simo-Kengne, B., Smithers, D., Trembling, A., (2015), Renewable energy and growth: evidence from a heterogeneous panel of G7 countries using Granger causality, Renewable and Sustainable Energy Reviews, 52, 1405–12. http://dx.doi.org/10.1016/j.rser.2015.08.022.10.1016/j.rser.2015.08.022
Search in Google Scholar Back to article
23. Chien, T., Hu, J-L., (2007), Renewable energy and macroeconomic efficiency of OECD and non-OECD economies, Energy Policy, 35(7), 3606–3615. doi:10.1016/j.enpol.2006.12.03310.1016/j.enpol.2006.12.033
Search in Google Scholar Back to article
24. Chien, T. and Hu, J.-L., (2008), Renewable energy: An efficient mechanism to improve GDP, Energy Policy, 36 (8), 3045–3052. doi:10.1016/j.enpol.2008.04.01210.1016/j.enpol.2008.04.012
Search in Google Scholar Back to article
25. Destek, M.A., Alper, A., (2017), Renewable and non-renewable energy consumption and economic growth in emerging economies: Evidence from bootstrap panel causality, Renewable Energy, 111, 757–763. http://dx.doi.org/10.1016/j.renene.2017.05.008.10.1016/j.renene.2017.05.008
Search in Google Scholar Back to article
56. Dogan, E., (2015), The relationship between economic growth and electricity consumption from renewable and non-renewable sources: A study of Turkey, Renewable and Sustainable Energy Reviews, 52, 534-546. http://dx.doi.org/10.1016/j.rser.2015.07.13010.1016/j.rser.2015.07.130
Search in Google Scholar Back to article
27. Dogan, E., Seker, F., (2016), Determinants of CO2 emissions in the European Union: the role of renewable and non-renewable energy, Renewable Energy, 94, 429-439. http://dx.doi.org/10.1016/j.renene.2016.03.078.10.1016/j.renene.2016.03.078
Search in Google Scholar Back to article
28. Dong, K., Hochman, G., Zang.Y., Sun, R., Li, H., Liao, H., (2018), CO2 emission, economic and population growth, and renewable energy: Empirical evidence across regions, Energy Economics, 75, 180-192. https://doi.org/10.1016/j.eneco.2018.08.017.10.1016/j.eneco.2018.08.017
Search in Google Scholar Back to article
29. Dumitrescu, E.I., Hurlin, C., (2012), Testing for Granger non-causality in heterogeneous panels, Economic Modelling, 29 (4), 1450–1460. https://doi.org/10.1016/j.econmod.2012.02.01410.1016/j.econmod.2012.02.014
Search in Google Scholar Back to article
30. EEA (2018), Renewable energy in Europe — 2018.Recent growth and knock-on effects, Publications Office of the European Union: Luxembourg. doi:10.2800/03040
Search in Google Scholar Back to article
31. European Commission, (2010), Communication from the Commission - Europe 2020. A strategy for smart, sustainable and inclusive growth. http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2010:2020:FIN:EN:PDF . Accessed 15 January 2020
Back to article
32. European Commission, (2011), Energy Roadmap 20150. Brussels. http://ec.europa.eu/energy/energy2020/roadmap/doc/com_2011_8852:en.pdf Accessed 15 January 2020
Search in Google Scholar Back to article
33. European Commission, (2014), A policy framework for climate and energy in the period from 2020 to 2030. Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, COM (2014), 15. 2014. http://eurlex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2014:0015:FIN:EN:PDF Accessed 15 January 2020
Search in Google Scholar Back to article
34. European Commission, (2017), Member States renewable energy progress report (the reference year 2015-2016). https://ec.europa.eu/energy/en/topics/renewable-energy/progress-report Accessed 15 January 2020
Search in Google Scholar Back to article
35. European Parliament and the Council, (2009), Directive 2009/28/EC on the promotion of the use of energy from renewable sources and amending subsequently repealing Directives 2001/77/EC and 2003/30/EC, Official Journal of the European Union, 5.6.2009, L140/16. https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=CELEX%3A32009L0028 Accessed 10 January 2020
Search in Google Scholar Back to article
36. European Parliament and the Council, (2012), Directive 2012/27/EU on the energy efficiency, amending Directives 2009/125/EC and repealing Directives 2004/8/EC and 2006/32/EC, Official Journal of the European Union, 14.11.2012, L315/1. https://eurlex.europa.eu/legal-content/EN/ALL/?uri=CELEX:32012L0027 Accessed 15 January 2020
Search in Google Scholar Back to article
37. European Parliament and the Council, (2018), Directive 2018/2002/EU on energy efficiency amending Directive 2012/27/EU, Official Journal of the European Union, 21.12.2018, L328/310. https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=uriserv:OJ.L_.2018.328.01.0210.01.ENG Accessed 30 May 2019
Search in Google Scholar Back to article
38. EUROSTAT, (2019a), Real GDP growth rate-volume. https://ec.europa.eu/eurostat/tgm/table.do?tab=table&plugin=1&language=en&pcode=tec00115 Accessed29March 2019
Search in Google Scholar Back to article
38. EUROSTAT, (2019b), Energy productivity. https://ec.europa.eu/eurostat/tgm/download.do?tab=table&plugin=1&language=en&pcode=t2020_rd310 Accessed 29 March 2019
Search in Google Scholar Back to article
40. EUROSTAT, (2019c), Energy balances the 2019 edition. https://ec.europa.eu/eurostat/documents/38154/4956218/Energy-Balances-April-2019-edition.zip/7f1e6290-0653-4c7bb0cb-4cb27d4819bf Accessed 30 March 2019
Search in Google Scholar Back to article
41. EUROSTAT, (2019d), Greenhouse gas emissions by source sector (source: EEA) http://appsso.eurostat.ec.europa.eu/nui/show.do?dataset=env_air_gge&lang=en Accessed 20 January 2020
Search in Google Scholar Back to article
42. EUROSTAT, (2019e), Energy intensity (nrg_ind_ei). http://appsso.eurostat.ec.europa.eu/nui/show.do Accessed 15 January 2020
Search in Google Scholar Back to article
43. Gozgor, G., Lau, C.K.M., Lu, Z. (2018), Energy consumption and economic growth: New evidence from OECD countries, Energy, 153, 27-34. https://doi.org/10.1016/j.energy.2018.03.158.10.1016/j.energy.2018.03.158
Search in Google Scholar Back to article
44. Irandoust, M., (2016), The renewable energy-growth nexus with carbon emissions and technological innovation: evidence from the Nordic countries, Ecological Indicators, 69, 118–125. http://dx.doi.org/10.1016/j.ecolind.2016.03.051.10.1016/j.ecolind.2016.03.051
Search in Google Scholar Back to article
45. Inglesi-Lotz, R., (2016), The impact of renewable energy consumption to economic growth: a panel data application, Energy Economics, 53, 58-63. http://dx.doi.org/10.1016/j.eneco.2015.01.00310.1016/j.eneco.2015.01.003
Search in Google Scholar Back to article
46. Jebli, M.B., Youssef, S.B., (2015), Output, renewable and non-renewable energy consumption and international trade: Evidence from 69 countries, Renewable Energy, 83, 799-808. http://dx.doi.org/10.1016/j.renene.2015.04.06110.1016/j.renene.2015.04.061
Search in Google Scholar Back to article
47. Jebli, M.B., Youssef, S.B., Ozturk, I., (2016), Testing environmental Kuznets curve hypothesis: the role of renewable and non-renewable energy consumption and trade in OECD countries, Ecological Indicators, 60, 824–831. http://dx.doi.org/10.1016/j.ecolind.2015.08.031.10.1016/j.ecolind.2015.08.031
Search in Google Scholar Back to article
48. Kahia, M., Aïssa, M.S.B., Lanouar, C., (2016), Impact of renewable and non-renewable energy consumption on economic growth: new evidence from the MENA net oil-exporting countries (NOECs), Energy, 116, 102-115. http://dx.doi.org/10.1016/j.energy.2016.07.12610.1016/j.energy.2016.07.126
Search in Google Scholar Back to article
49. Kahia, M., Aïssa, M.S.B., Lanouar, C., (2017), Renewable and non-renewable energy use—economic growth nexus: The case of MENA net oil-importing countries (NOICs), Renewable and Sustainable Energy Reviews, 71, 127–140. http://dx.doi.org/10.1016/j.rser.2017.01.010.10.1016/j.rser.2017.01.010
Search in Google Scholar Back to article
50. Kazar, G., Kazar, A., (2014), The Renewable energy Production-Economic Development Nexus, International Journal of Energy Economics and Policy, 4(2), 312-319. https://www.econjournals.com/index.php/ijeep/article/view/786.
Search in Google Scholar Back to article
51. Khobai, H., (2018), Renewable energy consumption and economic growth in Indonesia. Evidence from the ARDL bounds testing approach, MPRA Paper no.85081. https://mpra.ub.uni-muenchen.de/85081/ Accessed 30 November 2019
Search in Google Scholar Back to article
52. Koçak, E., and Șargüneși, A., (2017), The renewable energy and economic growth nexus in the Black Sea and Balkan countries, Energy Policy, 100 (1), 51-57. http://dx.doi.org/10.1016/j.enpol.2016.10.007.10.1016/j.enpol.2016.10.007
Search in Google Scholar Back to article
53. Leitao, N.C., (2014), Economic growth, carbon dioxide emissions, renewable energy and globalization, International Journal of Energy Economics and Policy, 4 (3), 391-299. http://econjournals.com/index.php/ijeep/article/view/830
Search in Google Scholar Back to article
54. Levin, A., Lin, C.F., Chu, C.S.J., (2002), Unit root tests in panel data: asymptotic and finite sample properties, Journal of Econometrics, 108 (1), 1–24.10.1016/S0304-4076(01)00098-7
Search in Google Scholar Back to article
55. Lin, B.Q., Moubarak, M., (2014), Renewable energy consumption—economic growth nexus for China, Renewable and Sustainable Energy Reviews, 40, 111–117. http://dx.doi.org/10.1016/j.rser.2014.07.128.10.1016/j.rser.2014.07.128
Search in Google Scholar Back to article
56. Lorde, T., Waithe, K., Francis, B. (2010). The importance of electrical energy for economic growth, Energy Economics, 32, 1411-1420. doi:10.1016/j.eneco.2010.05.011.10.1016/j.eneco.2010.05.011
Search in Google Scholar Back to article
57. Maji, I.K., Sulaiman, C., (2019), Renewable energy consumption and economic growth nexus: A fresh evidence from West Africa, Energy Reports, 5, 384-392. https://doi.org/10.1016/j.egyr.2019.03.005.10.1016/j.egyr.2019.03.005
Search in Google Scholar Back to article
58. Menegaki, A.N., (2011), Growth and renewable energy in Europe: a random model with evidence of neutrality hypothesis, Energy Economics, 33, 257-263. doi:10.1016/j.eneco.2010.10.004.10.1016/j.eneco.2010.10.004
Search in Google Scholar Back to article
59. Neagu, O., Teodoru, M. (2019), The relationship between economic complexity, energy consumption structure and greenhouse gas emissions: heterogeneous panel evidence from the EU countries, Sustainability, 11,497. doi:10.3390/su11020497.10.3390/su11020497
Search in Google Scholar Back to article
60. Ntanos, S., Skordoulis, M., Kryiakopoulos, G., Arabatzis, G., Chalikias, M., Galatsidas, S., Batzios, A., Katsarou, A. (2018). Renewable Energy and Economic Growth: Evidence from European countries, Sustainability, 10, 2626. doi:10.3390/su10082626.10.3390/su10082626
Search in Google Scholar Back to article
61. Oguz, O., Alper, A., (2013), Renewable energy consumption–economic growth nexus in Turkey, Renewable and Sustainable Energy Reviews, 28, 494-499. http://dx.doi.org/10.1016/j.rser.2013.08.036.10.1016/j.rser.2013.08.036
Search in Google Scholar Back to article
62. Ohler, A., Fetters, I., (2014), The causal relationship between renewable energy generation and GDP growth: A study of energy sources, Energy Economics, 43, 125-139. http://dx.doi.org/10.1016/j.eneco.2014.02.00910.1016/j.eneco.2014.02.009
Search in Google Scholar Back to article
63. Pao, H.T., Fu, H.C., (2013), Renewable energy, non-renewable energy and economic growth in Brazil, Renewable Sustainable Energy Reviews, 25, 381–392. http://dx.doi.org/10.1016/j.rser.2013.05.00410.1016/j.rser.2013.05.004
Search in Google Scholar Back to article
64. Pedroni, P., (1999), Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors, Oxford Bulletin of Economics and Statistics, 61, 653–70. https://doi.org/10.1111/1468-0084.0610s1653.10.1111/1468-0084.61.s1.14
Search in Google Scholar Back to article
65. Pedroni, P., (2001a), Fully modified OLS for heterogeneous cointegrated panels. Badi H. Baltagi, Thomas B. Fomby, R. Carter Hill (eds). Advances in Econometrics, Vol 15: Nonstationary Panels, Panel Cointegration and Dynamic Panels, 93-130. https://www.emeraldinsight.com/doi/abs/10.1016/S0731-9053(00)15004-2 Accessed 14 June 201910.1016/S0731-9053(00)15004-2
Search in Google Scholar Back to article
66. Pedroni, P., (2001b), Purchasing power parity tests in cointegrated panels, Review of Economics and Statistics, 83 (4), 727–731. https://EconPapers.repec.org/RePEc:wil:wileco:2001-01. Accessed 15 June 201910.1162/003465301753237803
Search in Google Scholar Back to article
67. Pedroni, P., (2004), Panel cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis, Econometric Theory, 20 (03), 597-625. https://doi.org/10.1017/S0266466604203073.10.1017/S0266466604203073
Search in Google Scholar Back to article
68. Pirlogea, C., Cicea, C., (2012), Econometric perspective of the energy consumption and economic growth relation in European Union, Renewable and Sustainable Energy Reviews, 16, 5718-5726. http://dx.doi.org/10.1016/j.rser.2012.06.01010.1016/j.rser.2012.06.010
Search in Google Scholar Back to article
69. Rafindadi, A.A., Ozturk, I., (2016), Impacts of renewable energy consumption to the German economic growth: Evidence from combined cointegration test, Renewable and Sustainable Energy Reviews, 75, 1130-1141. http://dx.doi.org/10.1016/j.rser.2016.11.093.10.1016/j.rser.2016.11.093
Search in Google Scholar Back to article
70. Sadorsky, P., (2009), Renewable energy consumption and income in emerging economies, Energy Policy, 37(10), 4021–4028. doi:10.1016/j.enpol.2009.05.00310.1016/j.enpol.2009.05.003
Search in Google Scholar Back to article
71. Saidi, K., Mbarek, M.B., (2016), Nuclear energy, renewable energy, CO2 emissions, and economic growth for nine developed countries: evidence from panel Granger causality tests, Progress in Nuclear Energy, 88, 364–374. https://doi.org/10.1016/j.pnucene.2016.01.018.10.1016/j.pnucene.2016.01.018
Search in Google Scholar Back to article
72. Sasana, H., Ghozali, I., (2017), The impact of fossil and renewable energy consumption on the economic growth in Brazil, Russia, India, China and South Africa, International Journal of Energy Economics and Policy, 7, 194–200. https://www.econjournals.com/index.php/ijeep/article/view/4926 Accessed 29 March 2020
Search in Google Scholar Back to article
73. Sebri, M., Ben-Salha, O., (2014), On the causal dynamics between economic growth, renewable energy consumption, CO2 emissions and trade openness: fresh evidence from BRICS countries, Renewable and Sustainable Energy Reviews, 39, 14–23. http://dx.doi.org/10.1016/j.rser.2014.07.033.10.1016/j.rser.2014.07.033
Search in Google Scholar Back to article
74. Shahbaz, M.; Loganathan, N.; Zeshan, M.; Zaman, K., (2015), Does renewable energy consumption add to economic growth? An application of the auto-regressive distributed lag model in Pakistan, Renewable and Sustainable Energy Reviews, 44, 576–585. http://dx.doi.org/10.1016/j.rser.2015.01.017.10.1016/j.rser.2015.01.017
Search in Google Scholar Back to article
75. Silva, S., Soares, I., Pinho, C., (2012), The impact of renewable energy sources on economic growth and CO2 emissions—an SVAR approach, European Research Studies, Volume XV, Special Issue on Energy, 134-144. https://www.ersj.eu/repec/ers/papers/12_4_p6.pdf. Accessed November 15, 2019
Search in Google Scholar Back to article
76. Șoava, G., Mehedințu, A. Sterpu, M., Răduțeanu, M., (2018), Impact of renewable energy on economic growth: evidence from European Union countries, Technological and Economic Development of Economy, 24(3), 914-932. https://doi.org/10.3846/tede.2018.1426.10.3846/tede.2018.1426
Search in Google Scholar Back to article
77. Taeyoung, J., Jinsoo, K., (2018), Coal Consumption and Economic Growth: Panel Cointegration and Causality Evidence from OECD and Non-OECD Countries, Sustainability, 10, 660. doi:10.3390/su10030660.10.3390/su10030660
Search in Google Scholar Back to article
78. The World Bank Data: https://data.worldbank.org/indicator/
Search in Google Scholar Back to article
79. Tiwari, A.K. (2011). A structural VAR analysis of renewable energy consumption, real GDP and CO2 emission: Evidence from India, Economics Bulletin, 31(2), 1793-1806. https://www.researchgate.net/profile/Aviral_Tiwari/publication/220008628_A_Structural_VAR_Analysis_of_Renewable_Energy_Consumption_Real_GDP_and_CO2_Emissions_Evidence_from_India/links/0fcfd50583 fd1e4338000000.pdf Accessed 20 September 2019
Search in Google Scholar Back to article
80. Tugcu, C.T., Ozturk, I., Alper, A., (2012), Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries, Energy Economics, 34, 1942–1950. http://dx.doi.org/10.1016/j.eneco.2012.08.02110.1016/j.eneco.2012.08.021
Search in Google Scholar Back to article
81. Ucan, O., Aricioglu, E., Yucel, F., (2014), Energy Consumption and Economic Growth Nexus: Evidence from Developed Countries in Europe, International Journal of Energy Economics and Policy, 4(3), 411-419. https://www.econjournals.com/index.php/ijeep/article/view/848 Accessed 30 November 2019
Search in Google Scholar Back to article
82. Vaona, A., (2012), Granger non-causality tests between (non) renewable energy consumption and output in Italy since 1861: The (ir) relevance of structural breaks, Energy Policy, 45, 226–236. doi:10.1016/j.enpol.2012.02.023.10.1016/j.enpol.2012.02.023
Search in Google Scholar Back to article
83. Zeb, R., Salar, L., Awan, U., Zaman, K., Shahbaz, M., (2014), Causal links between renewable energy, environmental degradation and economic growth in selected SAARC countries: progress towards a green economy, Renewable Energy, 71, 123-132. http://dx.doi.org/10.1016/j.renene.2014.05.012.10.1016/j.renene.2014.05.012
Search in Google Scholar Back to article
84. Yildirim, E., Saraç, S., Alper, A., (2012), Energy consumption and economic growth in the USA: Evidence from renewable energy, Renewable and Sustainable Energy Reviews, 16 (9), 6770-6774. http://dx.doi.org/10.1016/j.rser.2012.09.00410.1016/j.rser.2012.09.004
Search in Google Scholar Back to article

Does Renewable Energy Matter for Economic Growth in Central and Eastern European Countries? Empirical Evidence from Heterogeneous Panel Cointegration Analysis

Abstract

Paradigm

My account