Iancu, I.A.; Hendrick, P.; Micu, D.D.; Cirstea, S.D. The Demand for Energy Imports from Non-Renewable Resources in EU-27 Economy. Energies2023, 16, 5177.
Iancu, I.A.; Hendrick, P.; Micu, D.D.; Cirstea, S.D. The Demand for Energy Imports from Non-Renewable Resources in EU-27 Economy. Energies 2023, 16, 5177.
Iancu, I.A.; Hendrick, P.; Micu, D.D.; Cirstea, S.D. The Demand for Energy Imports from Non-Renewable Resources in EU-27 Economy. Energies2023, 16, 5177.
Iancu, I.A.; Hendrick, P.; Micu, D.D.; Cirstea, S.D. The Demand for Energy Imports from Non-Renewable Resources in EU-27 Economy. Energies 2023, 16, 5177.
Abstract
Energy imports and the transition to renewable energy sources are of critical importance in the current geopolitical context, which necessitates concrete actions to tackle the energy crisis at the European Union level. The study aims to explore the impact of imported non-renewable energy resources on the EU-27 economy. It examines the correlations and causal relationships between GDP, GVA, R&D investments, and energy imports from 2000 to 2021. Data normality was assessed using the Shapiro-Wilk test, while Pearson's test identified correlations between variables. Linear and multiple regression analyses were conducted to determine the effects of changes in independent variables on dependent variables. The study found a strong association between natural gas imports and GDP, with increases in GDP leading to a more than fourfold rise in imports. Furthermore, multiple regression analysis indicated that a 1% increase in R&D investments results in a 2.21% decrease in fossil fuel imports in 91.7% of cases. This suggests that R&D investments contribute to improved efficiency and the use of renewable energy sources.
Keywords
Energy imports; gross domestic product; gross value added; research & development investments; renewable energy; European Union
Subject
Environmental and Earth Sciences, Other
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
