Renewable Energy Development as a Driver of Economic Growth: Evidence from Multivariate Panel Data Analysis

Singh, Nadia D.; Nyuur, Richard B.; Richmond, Ben

doi:10.3390/su11082418

Cited by 103 publications

(60 citation statements)

References 60 publications

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“…The uncertain context of Brexit creates more barriers. Germany made big progress in the consumption of fossil and nuclear fuels, while France and Italy have serious problems in meeting the targets for 2020 [64][65][66][67][68][69]. Netherlands also encountered difficulties because its final energy consumption is based on a natural gas network that is quite cheap; government subsidies for the RES promotion are not attractive, being lower than in Scandinavian countries.…”

Section: Discussionmentioning

confidence: 99%

Renewable Energy in the Electricity Sector and GDP per Capita in the European Union

et al. 2019

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Considering that the European Directive has imposed that at least 20% of the total energy should come from renewable energy sources (RES) by 2020 already and the specific targets for each European Union Member State, this paper attempts to assess the importance of GDP per capita in realizing these targets and also the effects of the RES share in electricity. Contrary to previous research, this paper does not consider the connection between economic growth and RES, but rather the potential connection between the share of RES in electricity and the real GDP per capita. The panel data models indicated to a positive, but very low impact of GDP per capita on the share of RES in electricity in the period of 2007–2017 in the case of the EU countries, except Luxembourg that has outlier values of GDP per capita. However, causality between the two variables was not identified. Some groups of countries were described according to these variables using cluster analysis. Future research should focus on the extension of this model by including other important variables such as RES potential available in the countries with specific geographical conditions.

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Section: Discussionmentioning

confidence: 99%

Renewable Energy in the Electricity Sector and GDP per Capita in the European Union

et al. 2019

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“…The dependent variable we used in model 1 is the change in the lognormal values of GDP per capita. Thus, Singh et al [29] emphasized that, the existing literature focused exclusively on GDP per capita as an indicator of economic growth. It was estimated that the internet economy in the G-20 countries will double between 2012 and 2020.…”

Section: Literature Reviewmentioning

confidence: 99%

Assessing the Impact of ICT Sector on Sustainable Development in the European Union: An Empirical Analysis Using Panel Data

et al. 2020

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Information and communication technologies (ICT) play a central role at the European level because it fosters innovation and increases productivity through an enlarged access to information. As such, the main objective of this work was to assess the impact of various ICT core indicators at the European Union level on two of their sustainable development goals: economic growth and reduction of inequality. To this purpose, we used panel data models based on data collected from the Eurostat database. We proposed two panel data regression models, according to which we found a positive statistically significant relationship between the variable measuring level of internet access and change in GDP per capita. We also found a negative relationship between the transition towards a digital society and the dependent variable INEQ_INC, namely an increase of 1% of ICT sector share in GDP will lead to a decrease of 0.27% of income inequality distribution. This result showed that the progress made in implementing a digital society may decrease societal income inequality.

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“…Their conclusions indicate that effective policy interventions should ensure that objectives are orientated towards the long term with the aim of reducing the risks perceived by financial institutions in funding biomass producers. Based on a Fully Modified Ordinary Least Square (FMOLS) regression model analysis, Singh et al [26] argue that renewable energy production is associated with a positive and statistically significant impact on economic growth in both developed and developing countries for the period 1995-2016. Starting with the analysis based on a Malaysian Case Study, Takeda et al [27] showed that electricity from renewables has greater adverse impact on workers from the supply chain than the conventional electricity mix, in view of the social aspects countered.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level

Bușu

2019

Sustainability

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Low carbon emission has a major positive impact on our society. Due to the importance of reducing carbon emission levels, factors that contribute significantly towards reducing carbon emission levels have attracted the interest of academics and researchers in the field. In this paper, the author develops a multiple linear regression analysis to examine the relationship between renewable energy consumption, biofuel production, resources productivity, bioenergy productivity, the level of urbanization and population and their impact on total carbon dioxide (CO2) emissions. Data was collected from the European Statistical Office (EUROSTAT) and four statistical hypotheses were validated through a regression model with panel data using the statistical software EViews 11. The study was conducted for 27 European Union (EU) countries during 2008 to 2017. The author’s findings indicate that renewables have a direct and positive influence on the levels of CO2 emissions, as opposed to population growth and urbanization. These findings suggest that public policy should be directed towards increasing the use of renewables in EU countries, while the level of urbanization and the population growth add more restrictions in the modelling equation of the impact on CO2 emissions.

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Renewable Energy Development as a Driver of Economic Growth: Evidence from Multivariate Panel Data Analysis

Cited by 103 publications

References 60 publications

Renewable Energy in the Electricity Sector and GDP per Capita in the European Union

Renewable Energy in the Electricity Sector and GDP per Capita in the European Union

Assessing the Impact of ICT Sector on Sustainable Development in the European Union: An Empirical Analysis Using Panel Data

The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level

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