Economic growth and energy consumption: a comparison of comparative analysis of V4 and “old” EU countries

Abstract

Abstract. Our paper uses the panel data approach to investigate the relationship between energy consumption and economic growth for V4 countries and for the 14 EU "old" Member States from 1995 to 2012. We defi ne the diff erences between the estimated results for these t wo groups of countries. We assume that there is a positive relationship between energy use and economic growth. Our results reveal that in the countries in question energy consumption is not neutral to economic growth. Th e estimation of GDP equation indicates that that energy consumption is positively related to economic growth. Energy consumption is a pro-growth variable which means that the increase in energy consumption causes the increase of economic growth. Moreover, the energy consumption in relation to GDP growth in the V4 countries seems to be more effi cient than in the "old" EU countries. Furthermore, our results point at the individual growth rate eff ect of GDP for every country that was not captured by the estimated model.

Modeling the power of renewable energy sources in the context of classical electricity system transformation

“…obvious fact (Gomez & Escobra, 2014;Balitskiy et al, 2016;or Streimikiene et al, 2016;Nagaj, 2016;Kasperowicz & Štreimikienė, 2016).…”

“…The perfect source of renewable energy from the system operator's point of view are the hydroelectric plants, where the power can be modulated in any way. In countries like Norway, Brazil and Venezuela more than 65% of the energy comes from hydropower (Gielen, 2012), unfortunately due to the topography and climate, most countries need to look for other renewable energy sources that are not as stable as hydropower. To obtain the stability of the system powered close to 100% by renewable energy the system has to be equipped with the possibility of energy storage, enable flexible energy demand and provide the possibility to process the energy surplus, e.g..: in bioenergy fuels that can be used in the transport or to produce energy again in some crisis situations.…”

The impact of biodiesel consumption by transport on economic growth in the European Union

“…Economic growth in these countries implies more intensive use of energy which results in growing CO2 emissions, therefore, pollution is directly linked with economic growth and development. Kasperowicz and Streimikiene (2016) describe the relationship between energy consumption and economic growth for V4 countries and for the 14 EU "old" Member States, the study period is from 1995 to 2012.…”

Reengineering of Electricity Market Monitoring

“…Monitoring of the electricity market plays the key role under the conditions of free markets (Balitskiy et al, 2014;Dzikevičius, Šaranda, 2016;Ignotas, Stasytytė, 2016;CrisanMitra et al, 2016;Anic et al, 2016;Limba et al, 2016;Lisin et al, 2016;Kasperowicz, Štreimikienė, 2016;Brożyna et al, 2016;Strielkowski et al, 2017). Supervisory actions are important for the system operator as well as regulatory commissions in their ensuring efficient market performance.…”