scholarly journals The Impact of Environmental Policy Stringency on Renewable Energy Production in the Visegrad Group Countries

Energies ◽  
2021 ◽  
Vol 14 (19) ◽  
pp. 6225
Author(s):  
Justyna Godawska ◽  
Joanna Wyrobek
Keyword(s):  
Renewable Energy ◽  
Environmental Policy ◽  
Energy Production ◽  
Positive Impact ◽  
Policy Instruments ◽  
Long Run ◽  
Renewable Energy Production ◽  
Short Run ◽  
Per Capita ◽  
The Impact

Various environmental policy instruments supporting the development of renewable energy are used on an increasing scale as part of the policy of mitigating climate change and more. In our paper, we examine the influence of environmental policy stringency on renewable energy production in the Czech Republic, Hungary, Poland and Slovakia for the period 1993–2012 after controlling for gross domestic product per capita growth, CO2 emissions per capita and income inequality. We use the Panel Pooled Mean Group Autoregressive Distributive Lag model to analyze the long-run and the short-run relationship between restrictiveness of environmental policy and renewable energy generation. The results reveal that, in the long run, a more stringent environmental policy has a positive impact both on the increase in the absolute volume of renewable energy production, as well as on the replacement of energy from fossil sources. Our main findings indicate that renewable energy production is positively influenced not only by the stringency of instruments aimed directly at the development of this energy sector, but also by the stringency of instruments with other environmental goals and by the overall level of restrictiveness of the environmental policy.

Energy Policy Issues in Turkey

2017 ◽  
Vol 6 (3) ◽  
pp. 50-65
Author(s):  
Dilek Temiz Dinç ◽  
Aytaç Gökmen ◽  
Zehra Burçin Kanık
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Production ◽  
Fossil Fuels ◽  
Renewable Energy Resources ◽  
Causality Test ◽  
Long Run ◽  
Renewable Energy Production ◽  
Short Run ◽  
The Republic

Energy is the source of development of the mankind and an indispensable input for economic growth. Currently, most of the energy consumed in the world is composed of fossil fuels which are not environmentally friendly and reliable since their prices are volatile and their supply compels importing countries dependent on energy exporting countries. Thus, a good remedy to reduce fossil fuel dependency is to utilize more renewable energy resources. Renewable resources can be replenished quickly, are almost infinite and would lead a country to sustainable development. The Republic of Turkey is a net importer of energy. The diversification of energy sources and supply security is of great importance for it. Thus, the objective of this study is to analyze the relationship between renewable energy production and economic growth in Turkey by using Johansen Cointegration Test, Vector Error Correction Model (VECM), Granger Causality Test and the Augmented Dickey-Fuller Test (ADF). Consequently, both long run and short run a casualty running from GDP growth to renewable energy production is determined in the study.

scholarly journals Socioeconomic Determinants of Renewable Energy Production in Emerging and Developed Countries

2021 ◽  
Author(s):  
Suzanna Elmassah
Keyword(s):  
Renewable Energy ◽  
Energy Production ◽  
Renewable Energy Sources ◽  
Developed Countries ◽  
Emerging Countries ◽  
Oil Price ◽  
Annual Data ◽  
Long Run ◽  
Renewable Energy Production ◽  
Short Run

Abstract Energy is essential for development and economic growth, but traditional non-renewable energy sources are finite and have significant adverse environmental impacts. Therefore, there is an increasing interest in energy generation from renewable sources. However, research to date in this field does not sufficiently identify the common factors determining the uptake of renewable energy in emerging and developed countries. This paper addresses that gap by identifying the complex interrelationships between factors that determine the extent to which countries convert to renewable energy. The article's primary focus is a detailed statistical analysis of 10 developed and 16 emerging countries using annual data from 1976–2018. The objective is to examine the interrelationships and elasticities between increased production of renewable energy and three key socioeconomic variables; GDP, CO2 emissions, and oil price. This research uses panel data and time-series analyses to identify panel and country-specific elasticity of renewable energy production and dynamic causal relationships between these variables. It also applies fully modified and dynamic ordinary least square approaches. The study details the different interactions between the variables in each country. It uses an autoregressive distributed lag model to determine the long and short-run dynamics between renewable energy production and the three variables in each country. The paper shows there was a long-run elasticity between renewable energy and GDP in the developed countries and short-run dynamics between renewable energy and the other two variables. Whereas in the emerging countries category, there were long-run relationships between renewable energy and GDP, CO2 emissions, and oil price.

scholarly journals Renewable Energy Development as a Driver of Economic Growth: Evidence from Multivariate Panel Data Analysis

2019 ◽  
Vol 11 (8) ◽  
pp. 2418 ◽  
Author(s):  
Nadia Singh ◽  
Richard Nyuur ◽  
Ben Richmond
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Renewable Energy ◽  
Energy Production ◽  
Developing Economies ◽  
Panel Data Analysis ◽  
Least Square ◽  
Renewable Energy Production ◽  
The Future ◽  
The Impact

Renewable energy is being increasingly touted as the “fuel of the future,” which will help to reconcile the prerogatives of high economic growth and an economically friendly development trajectory. This paper seeks to examine relationships between renewable energy production and economic growth and the differential impact on both developed and developing economies. We employed the Fully Modified Ordinary Least Square (FMOLS) regression model to a sample of 20 developed and developing countries for the period 1995–2016. Our key empirical findings reveal that renewable energy production is associated with a positive and statistically significant impact on economic growth in both developed and developing countries for the period 1995–2016. Our results also show that the impact of renewable energy production on economic growth is higher in developing economies, as compared to developed economies. In developed countries, an increase in renewable energy production leads to a 0.07 per cent rise in output, compared to only 0.05 per cent rise in output for developing countries. These findings have important implications for policymakers and reveal that renewable energy production can offer an environmentally sustainable means of economic growth in the future.

scholarly journals Socio-economic Factors Influencing the Development of Renewable Energy Production Sector in Poland

2021 ◽  
Vol 24 (1) ◽  
pp. 38-54
Author(s):  
Tadeusz A. Grzeszczyk ◽  
Waldemar Izdebski ◽  
Michał Izdebski ◽  
Tadeusz Waściński
Keyword(s):  
Renewable Energy ◽  
Energy Production ◽  
Hard Coal ◽  
Economic Factors ◽  
Eu Law ◽  
Factors Influencing ◽  
Level Ii ◽  
Renewable Energy Production ◽  
The Impact ◽  
Socio Economic Factors

Poland is not one of the leaders in the use of renewable energy sources (RES), and most energy is still produced using hard coal and lignite. Therefore, there are noteworthy emissions of air pollution (including ashes and greenhouse gases), and the Polish energy sector is characterized by a substantial degree of carbonization, which, as a result, threatens to expressively increase the costs of electricity production, leading to financial penalties imposed by the EU. The aim of this paper is to analyze socio-economic factors influencing the development of the RES sector in Poland. According to this aim, expert research was carried out, in which the factors influencing development potential of RES were assessed at two levels (level II – 5 factors, level III – 15 factors) according to the factor tree analysis. Based on the analysis of the level II factors, it can be concluded that the development of the RES sector in Poland will depend to a decisive extent on factors such as: EU decisions and Polish legislation affecting the development of the RES sector in Poland, prices and availability of conventional energy carriers. Other two factors – regional policy on ecology and ecological awareness in Poland – have so far little impact on the development of this sector in the state. The analysis of the level III factors shows that the greatest impact on the development of the RES sector in Poland is the influence of European lobbying of manufacturers of machinery and equipment for renewable energy production on EU law, the impact of Polish lobbying of conventional energy producers on Polish law in the production of renewable energy and the influence of European lobbying of renewable energy producers into EU law.

scholarly journals HIGHER EDUCATION AND ECONOMIC GROWTH A CASE STUDY OF PAKISTAN

2010 ◽  
Vol 27 (1) ◽  
Author(s):  
Tariq Mahmood
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
Positive Impact ◽  
Public Expenditures ◽  
Annual Data ◽  
Unequal Distribution ◽  
Long Run ◽  
Short Run ◽  
The Impact ◽  
Education And Economic Growth

This paper highlights the role of higher education for the economic growth inPakistan. We explore the impact of increase in enrolment at tertiary level on thegrowth rate of income per worker. Estimating a growth model developed byMankiv et. al. (1992), using the annual data of Pakistan, we find a robustrelationship between higher education and economic growth in the long run. Themodel has also shown that investment in fixed capital has positive impact oneconomic uplift. Applying Johansen’s cointegration test, we show that the longrun elasticity of income with respect to capital stock is different from its share inGDP, and increase in the enrolment per unit of effective worker helps inbolstering economic growth. But, like earlier literature we also find statisticallyinsignificant relationship between higher education and GDP per worker. Thereare some fundamental reasons concerning to the ambiguous impact of investingin human capital on economic growth, particularly in the short run in case ofPakistan. First, the sharp increase in enrollment, recently, has been damaging thequality of education. Second, the unequal distribution of educational services hasheld back the efficiency of public expenditures, particularly before the reformsundertaken by higher education commission. Third, the low private return ofeducation has limited the demand for higher education in Pakistan for almost fiftyyears.

scholarly journals Economic growth and crude oil revenue in Nigeria

2022 ◽  
Vol 10 (8) ◽  
pp. 218-227
Author(s):  
Nenubari John Ikue ◽  
Lucky Ifeanyi Amabuike ◽  
Joseph Osaro Denwi ◽  
Aminu Usman Mohammed ◽  
Ahmadu Uba Musa
Keyword(s):  
Crude Oil ◽  
Oil Industry ◽  
Individual Income ◽  
Development Indicators ◽  
Oil Revenue ◽  
Long Run ◽  
Short Run ◽  
Per Capita ◽  
The Impact ◽  
World Development

This paper investigated how oil revenue and the activities in the oil industry affected the size of income accrue to each Nigerian (Per capita income) from 1980 to 2019. The variables were sourced from the World Bank’s World Development Indicators (WDI), OPEC Statistics, Baker Hughes Rig Count and the central bank of Nigeria statistical bulletin. Using the AutoRegressive Distributional Lag (ARDL) we observed that explorative activities of crude oil in Nigeria positively impacted the size of individual income. The magnitude of the impact was massive irrespective of time; a 1% increase in exploration increases the size of individual income by 0.4786% in the long run and 0.6030% in the short run. The interaction of rigs by output (interaction of rig-count and oil-production) negatively impacted the size of individual income. This implies that the size of individual income in Nigeria is sensitive to the nature of the explorative environment of the Nigerian oil industry.

Money Supply-Economic Growth Nexus: Evidence from a Landlocked Country

2020 ◽  
Vol 2 (1) ◽  
pp. 106-115
Author(s):  
Tilak Singh Mahara
Keyword(s):  
Economic Growth ◽  
Money Supply ◽  
Correction Term ◽  
Policy Instruments ◽  
Special Role ◽  
Real Gdp ◽  
Long Run ◽  
Ardl Approach ◽  
Short Run ◽  
The Impact

Background: There is special role of money in the economy due to its astonishing importance as change in the amount of it can have a significant effect on the major macroeconomic variables. Money supply is generally considered as policy-determined phenomenon. Like in all the nations, macroeconomic stability of Nepal also depends on the variation in the quantity of money. Objective: The principle objective of the study is to examine the impact of money supply on the economic growth of Nepal. Methodology: This study applies the ARDL approach to cointegration. Bounds test (F-version) has been carried out to determine the existence of long-run relationship between variables. Results: The empirical results pointed out that there is positive and significant long-term relationship between money supply and real economic growth in Nepal. Causality result reveals that there is unidirectional causality from money supply (M2) to Real GDP. The error correction term is found negative and statistically significant suggesting a correction of short-run disequilibrium within two and a half years. Conclusions: The study concludes that increase in the money supply helps to increase the real economic growth in Nepal. So, money supply and real GDP are associated in the long-run.  Implications: The implication of the study is that, real economic growth in Nepal can be achieved if Nepal Rastra Bank emphasized on monetary policy instruments which help to increase the flow of money supply both in the short and long run.

scholarly journals A Comparative Analysis of Sunshine Duration Effects in terms of Renewable Energy Production Rates on The LEED BD + C Projects in Turkey

Energies ◽  
2019 ◽  
Vol 12 (6) ◽  
pp. 1116 ◽  
Author(s):  
Aynur Kazaz ◽  
Seyda Adiguzel Istil
Keyword(s):  
Global Warming ◽  
Renewable Energy ◽  
Construction Projects ◽  
Energy Production ◽  
Sunshine Duration ◽  
Electricity Consumption ◽  
Production Rates ◽  
Certification System ◽  
Renewable Energy Production ◽  
The Impact

Global warming has been on the agenda over the past few years. Solutions to global warming and energy efficiency problems have brought with them the need for green building market. Leadership in Energy and Environmental Design (LEED) is a certification system regulating the compliance of green buildings to certain standards and is essential for construction projects focusing on sustainability and innovation. This study investigates the effects of sunshine duration on construction projects reducing annual electricity consumption and increasing renewable energy production. In this study, the effects of sunshine duration times on construction projects are located in different cities in Turkey which has gained point from LEED BD+C (NC) (LEED, Building Design + Construction: New Construction) certificate were analyzed with the help of getting the impact of annual electricity consumption and renewable energy production rates. It was our aim that the results will be used for construction projects in compliance with the “Energy and Atmosphere” category of the LEED BD+C certification system.

The long run impact of immigration on labor market in an advanced economy

2015 ◽  
Vol 42 (4) ◽  
pp. 356-367
Author(s):  
Faridul Islam ◽  
Saleheen Khan
Keyword(s):  
Labor Market ◽  
Gdp Per Capita ◽  
Advanced Economy ◽  
Content Type ◽  
Dynamic Relationship ◽  
Long Run ◽  
The Usa ◽  
Short Run ◽  
Per Capita ◽  
The Impact

Purpose – The purpose of this paper is to examine the dynamic relationship among immigration rate, GDP per capita, and and real wage rates in the USA. Design/methodology/approach – The paper implements the Johansen-Juselius (1990, 1992) cointegration technique to test for a long-run relationship; and for short-run dynamics the authors apply Granger causality tests under the vector error-correction model. Findings – The results show that the long-run causality runs from GDP per capita to immigration, not vice versa. Growing economy attracts immigrants. The authors also find that immigration flow depresses average weekly earnings of the natives in the long-run. Originality/value – The authors are not aware of any study on the USA addressing the impact of immigrants on labor market using a tripartite approach by explicitly incorporating economic growth. It is therefore important to pursue a theoretically justified empirical model in search of a relation to resolve on apparent immigration debate.

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