The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution
From an empirical point of view, the liberalization of the internal energy market reduces carbon dioxide emissions, promoting a wider range of renewable energy sources. The aim of this paper is to examine the effect of the liberalization of the internal energy market on CO<sub>2</sub> em...
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| Format: | Article |
| Language: | English |
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MDPI AG
2020-11-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/13/22/6116 |
| _version_ | 1797547171508125696 |
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| author | Pablo Ponce Cristiana Oliveira Viviana Álvarez María de la Cruz del Río-Rama |
| author_facet | Pablo Ponce Cristiana Oliveira Viviana Álvarez María de la Cruz del Río-Rama |
| author_sort | Pablo Ponce |
| collection | DOAJ |
| description | From an empirical point of view, the liberalization of the internal energy market reduces carbon dioxide emissions, promoting a wider range of renewable energy sources. The aim of this paper is to examine the effect of the liberalization of the internal energy market on CO<sub>2</sub> emissions, which was implemented in the European Union in 2011. The research data cover 27 countries of the European Union during the period 2004–2017 and was processed by estimating a <i>two-way effects</i> econometric model. The results suggest that the liberalization of the internal energy market is negatively related to CO<sub>2</sub> emissions; the policy was effective in reducing CO<sub>2</sub> emissions and, therefore, slowing down climate change. This result is significant at the level of the European Union, and in high-income countries since the year the policy was implemented, being different in the upper-middle-income countries, which begins to be effective after two years, which is due to the economic characteristics of the countries. The public policies to be implemented to reduce carbon dioxide emissions should focus on reducing the barriers imposed on foreign trade, which prevent efficient use of resources and providing financial and operating facilities to renewable energy providers in order to stimulate their production and consumption. |
| first_indexed | 2024-03-10T14:40:26Z |
| format | Article |
| id | doaj.art-ed52bc06d6fb45d985a4e75842cec116 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-10T14:40:26Z |
| publishDate | 2020-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-ed52bc06d6fb45d985a4e75842cec1162023-11-20T21:53:47ZengMDPI AGEnergies1996-10732020-11-011322611610.3390/en13226116The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental PollutionPablo Ponce0Cristiana Oliveira1Viviana Álvarez2María de la Cruz del Río-Rama3School of Economics, Universidad Nacional de Loja, 11050 Loja, EcuadorEuropean University of the Canary Islands, 38300 La Orotava, Santa Cruz de Tenerife, SpainSchool of Economics, Universidad Nacional de Loja, 11050 Loja, EcuadorBusiness Management and Marketing Department, Faculty of Business Sciences and Tourism, University of Vigo, 32004 Ourense, SpainFrom an empirical point of view, the liberalization of the internal energy market reduces carbon dioxide emissions, promoting a wider range of renewable energy sources. The aim of this paper is to examine the effect of the liberalization of the internal energy market on CO<sub>2</sub> emissions, which was implemented in the European Union in 2011. The research data cover 27 countries of the European Union during the period 2004–2017 and was processed by estimating a <i>two-way effects</i> econometric model. The results suggest that the liberalization of the internal energy market is negatively related to CO<sub>2</sub> emissions; the policy was effective in reducing CO<sub>2</sub> emissions and, therefore, slowing down climate change. This result is significant at the level of the European Union, and in high-income countries since the year the policy was implemented, being different in the upper-middle-income countries, which begins to be effective after two years, which is due to the economic characteristics of the countries. The public policies to be implemented to reduce carbon dioxide emissions should focus on reducing the barriers imposed on foreign trade, which prevent efficient use of resources and providing financial and operating facilities to renewable energy providers in order to stimulate their production and consumption.https://www.mdpi.com/1996-1073/13/22/6116CO<sub>2</sub> emissionsliberalizationnatural gaselectricityrenewable energy |
| spellingShingle | Pablo Ponce Cristiana Oliveira Viviana Álvarez María de la Cruz del Río-Rama The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution Energies CO<sub>2</sub> emissions liberalization natural gas electricity renewable energy |
| title | The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution |
| title_full | The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution |
| title_fullStr | The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution |
| title_full_unstemmed | The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution |
| title_short | The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution |
| title_sort | liberalization of the internal energy market in the european union evidence of its influence on reducing environmental pollution |
| topic | CO<sub>2</sub> emissions liberalization natural gas electricity renewable energy |
| url | https://www.mdpi.com/1996-1073/13/22/6116 |
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