Renewable energy and economic growth: evidence from European countries
Authors: Ntanos, Stamatios 
Chalikias, Miltiadis 
Batzios, Athanasios 
Skordoulis, Michalis 
Katsarou, Apostolia 
Galatsidas, Spyros 
Kyriakopoulos, Grigorios 
Arabatzis, Garyfallos 
Issue Date: 26-Jul-2018
Journal: Sustainability 
Volume: 10
Issue: 8
Keywords: Economic growth, Energy consumption, Gross Domestic Product, Renewable energy
Abstract: 
This paper aims at examining the relationship between energy consumption deriving from renewable energy sources, and countries' economic growth expressed as GDP per capita concerning 25 European countries. The used dataset involves European countries' data for the period from 2007 to 2016. The statistical analysis is based on descriptive statistics, cluster analysis, and autoregressive distributed lag (ARDL), and reveals that all variables are related; this suggests a correlation between the dependent variable of GDP and the independents of renewable energy sources (RES) and Non-RES energy consumption, gross fixed capital formation, and labor force in the long-run. Furthermore, the results show that there is a higher correlation between RES' consumption and the economic growth of countries of higher GDP than with those of lower GDP. The obtained results are consistent with other papers reviewed in this study.
ISSN: 2071-1050
DOI: 10.3390/su10082626
URI: https://uniwacris.uniwa.gr/handle/3000/1883
Type: Article
Department: Department of Business Administration 
School: School of Administrative, Economics and Social Sciences 
Affiliation: University of West Attica (UNIWA) 
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