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Energy Consumption and Economic Growth Nexus: Evidence from Developed Countries in Europe

Author

Listed:
  • Okyay U an

    (Nigde University, FEAS, Nigde, Turkey)

  • Ebru Ar c o lu

    (Nigde University, FEAS, Nigde, Turkey)

  • Fatih Y cel

    (Nigde University, FEAS, Nigde, Turkey)

Abstract

This 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

Suggested Citation

  • Okyay U an & Ebru Ar c o lu & Fatih Y cel, 2014. "Energy Consumption and Economic Growth Nexus: Evidence from Developed Countries in Europe," International Journal of Energy Economics and Policy, Econjournals, vol. 4(3), pages 411-419.
    • Handle: RePEc:eco:journ2:2014-03-10
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    References listed on IDEAS

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    More about this item

    Keywords

    renewable energy consumption; non-renewable energy consumption; growth;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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