scholarly journals Linking Public Finances’ Performance to Renewable-Energy Consumption in Emerging Economies of the European Union

2021 ◽  
Vol 13 (11) ◽  
pp. 6344
Author(s):  
Nicoleta Mihaela Florea ◽  
Roxana Maria Bădîrcea ◽  
Georgeta-Madalina Meghisan-Toma ◽  
Silvia Puiu ◽  
Alina Georgiana Manta ◽  
...  
Keyword(s):  
European Union ◽  
Sustainable Development ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Emerging Economies ◽  
Public Debt ◽  
Budget Deficit ◽  
The European Union ◽  
Renewable Energy Consumption ◽  
Public Finances

Implementing public policies linked to sustainable development is a global challenge for most countries that focused their efforts on identifying and improving the factors that led to environment degradation. The current paper analyzes the influence of primary indicators of public finances (public debt and budget deficit) on renewable-energy consumption (REN), for the emerging economies within the European Union. The main objective of this research is to understand the implications of fiscal measures on the sustainable development of a country and thus provide directions for stimulating renewable-energy consumption. The research starts with cross-sectional dependence analysis by using the Breusch–Pagan Lagrange multiplier (LM) test that is followed by cointegration relationships among variables by applying two appropriate panel-cointegration tests (Pedroni and Johansen). The research methodology is based on the fully modified ordinary-least-squares (FMOLS) method in order to test the long-run relationships, and on the pairwise Granger causality test in order to identify the direction of causality among variables. Results show unilateral influences from public debt and budget deficit on the analyzed variables, especially on renewable-energy consumption, and a bidirectional causality relationship between budget deficit and trade openness.

scholarly journals General government deficit and public debt in EU member states

2011 ◽  
Vol 2 (4) ◽  
pp. 29-41
Author(s):  
Michał Wielechowski
Keyword(s):  
European Union ◽  
Public Debt ◽  
Budget Deficit ◽  
The European Union ◽  
Member States ◽  
Public Finances ◽  
Eu Member States ◽  
General Government ◽  
Government Deficit ◽  
The Eu

The aim of this article is the presentation and the attempt to analyse such phenomena as: an excessive general government deficit and public debt in EU Member States over the past 3 years. For the European Union the years 2008-2010 were the time when public finances of most member countries worsened dramatically. The average budget deficit in the EU increased during that period to a value of almost 7% compared to gross domestic product and public debt reached almost 80% of GDP. Referring the numbers to the principles of the budgetary policy in the Treaty on the European Union (the deficit should not exceed 3% in relation to GDP and public debt – 60% of GDP), the observance of budgetary discipline has been significantly violated. In consequence, the excessive deficit procedure has been initiated. in relation to almost all the countries of the EU, Its purpose was to force the member countries to take concrete actions to stabilize public finances. The economic crisis that began in the second half of 2007 in the United States of America which resulted in a significant deterioration of the finances of all the EU member countries might be regarded as the major source of violation of their budgetary discipline. The reactions of most governments TO the harmful effects caused by the financial crisis were to stimulate national economies and stem the decline of domestic demand. The higher level of public expenditures was simultaneously the cause of increased budget deficits,. To develop and present the problem of an excessive budget deficit and public debt in the EU countries some statistical methods were used and the data source statistics were mainly carried out by the European Commission and the European Statistical Office.

scholarly journals Evolution and Forecasting of the Renewable Energy Consumption in the Frame of Sustainable Development: EU vs. Romania

2021 ◽  
Vol 13 (18) ◽  
pp. 10327
Author(s):  
Anca Mehedintu ◽  
Georgeta Soava ◽  
Mihaela Sterpu ◽  
Eugenia Grecu
Keyword(s):  
Sustainable Development ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Renewable Energy Sources ◽  
The European Union ◽  
Renewable Energy Consumption ◽  
Final Energy ◽  
Heating And Cooling ◽  
Final Energy Consumption ◽  
The Eu

This article is part of the concerns generated by the need to increase the consumption of renewable energy, so that in the European Union (EU) countries, its share in the final energy consumption, to reach 32% by 2030, increases. In the context in which, in the specialized literature, the analysis of renewable energy consumption by activity sectors is approached very little, such an analysis has high utility. The variables of interest are the share of renewable energy in the final energy consumption, and the share of renewable energy sources in the final energy consumption in transport, electricity, and heating and cooling. The study performs a comparative analysis of the evolution of these indicators for the period 2004–2019 for Romania and the EU, an empirical estimate of the evolution of indicators using time regression and autoregressive models, a forecast of the share of renewable energy consumption in the final energy consumption and by the main sectors (transport, electricity, and heating and cooling) for the 2030 horizon, providing appropriate scenarios for achieving the EU established goals, as well as an analysis of the interdependence between the indicators. Through the results obtained, the paper can contribute to improving the framework for the sustainable development of energy consumption.

scholarly journals How does renewable energy consumption affect economic growth? Evidence from the European Union countries

2021 ◽  
Vol 129 ◽  
pp. 09005
Author(s):  
Natalia Davidson ◽  
Elizaveta Maksimova ◽  
Oleg Mariev
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Generalized Method Of Moments ◽  
Green Energy ◽  
The European Union ◽  
Renewable Energy Consumption ◽  
Eu Countries ◽  
The Impact

Research background: Fossil fuels are used at such a high rate that they are currently being depleted. Moreover, they are associated with a greenhouse effect leading to global warming. Meanwhile, green energy is naturally replenished and fosters sustainable development (Nelson and Starcher, 2015). However, the empirical evidence of the impact of green energy on economic growth is controversial (Adewuyi and Awodumi, 2017; Chen et al., 2020; Destek and Aslan, 2017; Zafar et al., 2018). Purpose of the article: This paper analyses the impact of renewable energy consumption on economic growth in the European Union (EU) countries. This is important in line with the goals of EU to shift towards green energy during the coming years (Directive (EU) 2018/2001). Methods: We use data of the World Bank and Our World in Data over 1990 to 2015 for 28 EU countries. We estimate the impact of renewable energy consumption on the countries’ gross domestic product. The control variables are labor force, research and development, and foreign direct investment. We apply the pooled mean group, mean group, the dynamic fixed effect estimators (Pesaran, 1997; Pesaran et al., 1999), and generalized method of moments (Arellano & Bond, 1991). Findings & Value added: Results show that the renewable energy consumption positively affects economic growth of the EU countries. We contribute by shedding light on the possibility to develop renewable energy, while achieving economic growth. The results have important implications for economic policy.

scholarly journals System finansowania programów operacyjnych w Polsce – implikacje dla stanu finansów publicznych

2012 ◽  
pp. 47-76
Author(s):  
Agnieszka Kłos
Keyword(s):  
European Union ◽  
Public Debt ◽  
Budget Deficit ◽  
The State ◽  
The European Union ◽  
Public Finances ◽  
The Public ◽  
Structural Funds ◽  
Eu Structural Funds ◽  
The Way

The article is devoted to the issue of financing of operational programs implemented in Poland in the European Union’s financial perspectives 2000–2006 and 2007–2013. Polish membership in the European Union gives the opportunity to obtain additional funds but the possibility of absorption involves costs which Poland has to bear. The author attempts to assess the way in which Poland’s adopted systems for operational programs implemented with the participation of EU structural funds influenced the state of the public finances. System solutions used in Poland have implications for two key measures of the state of public fi nances such that is public debt and budget deficit.

scholarly journals Forecasting of the Share of Renewable Sources in the Total Final Energy Consumption for Selected European Union Countries

2021 ◽  
Vol 906 (1) ◽  
pp. 012134
Author(s):  
Anna Manowska
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Raw Materials ◽  
The European Union ◽  
Renewable Energy Consumption ◽  
Renewable Sources ◽  
Member States ◽  
European Union Countries ◽  
Energy Balances

Abstract The development of society requires stable access to electricity at an acceptable price. In order to meet the growing demand in the European Union countries, we are observing a dynamic development of the use of renewable sources in the energy balances of the Member States. The article presents the legal framework resulting from the newly adopted climate strategy, New Green Deal, and the conditions for the development of renewable sources in the process of transforming energy systems. The characteristics of selected energy balances of countries are also presented, which may constitute a knowledge base on the diversity of the Member States in terms of energy resources used, levels of independence and self-sufficiency of raw materials, as well as the levels of current electricity prices. Based on the available statistical data, the Eurostat database presents forecasts of the levels of renewable energy consumption in the 2030 time horizon for selected countries and according to the main types of renewable energy such as wind, solar energy, biofuels, geothermal energy, and hydropower. The statistical analyzes presented in the article are important tools for building a development strategy for the process of integrating energy markets within the European Union. The obtained results of the analyzes constitute a new approach to the study of the diversified energy market in the EU and present potential development scenarios for the surveyed countries.

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