<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The aim of the paper is to provide empirical evidence in support of the relationship between renewable energy consumption and economic growth in eleven Central and Eastern European (CEE) countries over the period 1995-2015 within a multivariate panel data analysis. Based on World Bank data, the panel cointegration analysis reveals that renewable energy consumption and economic growth are positively associated in the long run in CEE countries. The heterogeneous panel causality test indicates a bi-directional causality relationship in support of the feedback hypothesis between economic growth and renewable energy consumption in Central and Eastern European countries.</p></abstract>

The aim of the paper is to provide empirical evidence in support of the relationship between renewable energy consumption and economic growth in eleven Central and Eastern European (CEE) countries over the period 1995-2015 within a multivariate panel data analysis. Based on World Bank data, the panel cointegration analysis reveals that renewable energy consumption and economic growth are positively associated in the long run in CEE countries. The heterogeneous panel causality test indicates a bi-directional causality relationship in support of the feedback hypothesis between economic growth and renewable energy consumption in Central and Eastern European countries.

Does Renewable Energy Matter for Economic Growth in Central and Eastern European Countries? Empirical Evidence from Heterogeneous Panel Cointegration Analysis

“Vasile Goldiș” Western University of Arad

Studia Universitatis „Vasile Goldis” Arad – Economics Series

This work is licensed under the Creative Commons Attribution 4.0 International License.

The aim of the paper is to provide empirical evidence in support of the relationship between renewable energy consumption and economic growth in eleven Central...

Does Renewable Energy Matter for Economic Growth in Central and Eastern European Countries? Empirical Evidence from Heterogeneous Panel Cointegration Analysis

Published Online: Jan 29, 2021

Page range: 34 - 59

Received: Oct 01, 2020

Accepted: Nov 01, 2020

DOI: https://doi.org/10.2478/sues-2021-0003

Keywords
renewable energy, economic growth, heterogeneous panel analysis, CEE countries

© 2021 Olimpia Neagu et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Does Renewable Energy Matter for Economic Growth in Central and Eastern European Countries? Empirical Evidence from Heterogeneous Panel Cointegration Analysis

Published Online: Jan 29, 2021

Page range: 34 - 59

Received: Oct 01, 2020

Accepted: Nov 01, 2020

DOI: https://doi.org/10.2478/sues-2021-0003

Keywordsrenewable energy, economic growth, heterogeneous panel analysis, CEE countries

© 2021 Olimpia Neagu et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
renewable energy, economic growth, heterogeneous panel analysis, CEE countries