Energy Consumption and Economic Growth Nexus: Evidence from Developed Countries in Europe
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AbstractThis paper analyzes the relationship between renewable and non-renewable energy consumption and economic growth for a panel of fifteen European Union countries over the period 1990-2011 within a multivariate framework. The heterogeneous panel cointegration tests present a long-run equilibrium relationship between real GDP, renewable and non-renewable energy consumption, greenhouse gas emissions and research and development. The Granger-causality results demonstrate unidirectional causality between non-renewable energy consumption and economic growth. Keywords: renewable energy consumption; non-renewable energy consumption; growth JEL Classifications: C23; O11; O13
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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. Retrieved from https://www.econjournals.com/index.php/ijeep/article/view/848