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The Impact of Renewable Energy Policies and Financial Development on CO2 Emissions and Economic Growth in EU Countries

In: The Changing Financial Landscape

Author

Listed:
  • Fatbardha Morina

    (Epoka University)

  • Uğur Ergün

    (Epoka University)

  • Chrysanthi Balomenou

    (Epoka University)

Abstract

The purpose of this study is to examine the impact of renewable energy policies and financial development on CO2 emissions and economic growth in EU countries. The panel vector autoregression (PVAR) model is employed to investigate the relationship between renewable energy policies, financial development with CO2 emissions, and economic growth during the period of 2000–2017. The results show that renewable policies for solar influence negatively economic growth. However, the polices followed for wind technologies influence positively economic growth. Also, financial development and renewable policies for wind technologies seem to influence CO2 emissions. The results indicate that policymakers should pay attention to the efficiency of policies in renewable energy to increase energy demand from renewable energy sources and to reduce emissions in the environment.

Suggested Citation

  • Fatbardha Morina & Uğur Ergün & Chrysanthi Balomenou, 2021. "The Impact of Renewable Energy Policies and Financial Development on CO2 Emissions and Economic Growth in EU Countries," Contributions to Economics, in: Goran Karanovic & Persefoni Polychronidou & Anastasios Karasavvoglou (ed.), The Changing Financial Landscape, pages 97-107, Springer.
    • Handle: RePEc:spr:conchp:978-3-030-82778-6_6
    DOI: 10.1007/978-3-030-82778-6_6
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