How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union?
The aim of this paper is to examine the relationship between renewable energy consumption and economic growth in both traditional and new EU member states over the period from 2004 to 2018. In order to properly examine the relationship between the defined variables, we used a Pooled Mean Group (PMG)...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2020-11-01
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| Series: | Energy Reports |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2352484720313408 |
| _version_ | 1818602538096656384 |
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| author | Julija Cerović Smolović Milica Muhadinović Milena Radonjić Jovan Đurašković |
| author_facet | Julija Cerović Smolović Milica Muhadinović Milena Radonjić Jovan Đurašković |
| author_sort | Julija Cerović Smolović |
| collection | DOAJ |
| description | The aim of this paper is to examine the relationship between renewable energy consumption and economic growth in both traditional and new EU member states over the period from 2004 to 2018. In order to properly examine the relationship between the defined variables, we used a Pooled Mean Group (PMG) estimator in a dynamic panel setting (an ARDL model). The obtained results show that the impact of renewable energy consumption on economic growth is positive and statistically significant in the long run in both samples of countries. In the short term, the impact of renewable energy consumption on economic activity proved to be negative in new member states, while in traditional member states it had no statistically significant impact. These results suggest significant implications for economic policy makers. |
| first_indexed | 2024-12-16T13:08:52Z |
| format | Article |
| id | doaj.art-2cf51990e0ef48eba57985cf9d249bb8 |
| institution | Directory Open Access Journal |
| issn | 2352-4847 |
| language | English |
| last_indexed | 2024-12-16T13:08:52Z |
| publishDate | 2020-11-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Reports |
| spelling | doaj.art-2cf51990e0ef48eba57985cf9d249bb82022-12-21T22:30:40ZengElsevierEnergy Reports2352-48472020-11-016505513How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union?Julija Cerović Smolović0Milica Muhadinović1Milena Radonjić2Jovan Đurašković3University of Montenegro, Faculty of Economics, Jovana Tomaševića 37, 81000 Podgorica, MontenegroUniversity of Montenegro, Faculty of Economics, Jovana Tomaševića 37, 81000 Podgorica, MontenegroCorresponding author.; University of Montenegro, Faculty of Economics, Jovana Tomaševića 37, 81000 Podgorica, MontenegroUniversity of Montenegro, Faculty of Economics, Jovana Tomaševića 37, 81000 Podgorica, MontenegroThe aim of this paper is to examine the relationship between renewable energy consumption and economic growth in both traditional and new EU member states over the period from 2004 to 2018. In order to properly examine the relationship between the defined variables, we used a Pooled Mean Group (PMG) estimator in a dynamic panel setting (an ARDL model). The obtained results show that the impact of renewable energy consumption on economic growth is positive and statistically significant in the long run in both samples of countries. In the short term, the impact of renewable energy consumption on economic activity proved to be negative in new member states, while in traditional member states it had no statistically significant impact. These results suggest significant implications for economic policy makers.http://www.sciencedirect.com/science/article/pii/S2352484720313408Economic growthRenewable energy consumptionEuropean UnionPanel ARDL |
| spellingShingle | Julija Cerović Smolović Milica Muhadinović Milena Radonjić Jovan Đurašković How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union? Energy Reports Economic growth Renewable energy consumption European Union Panel ARDL |
| title | How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union? |
| title_full | How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union? |
| title_fullStr | How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union? |
| title_full_unstemmed | How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union? |
| title_short | How does renewable energy consumption affect economic growth in the traditional and new member states of the European Union? |
| title_sort | how does renewable energy consumption affect economic growth in the traditional and new member states of the european union |
| topic | Economic growth Renewable energy consumption European Union Panel ARDL |
| url | http://www.sciencedirect.com/science/article/pii/S2352484720313408 |
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