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Asymmetric Effects of Energy Management Variables on the Economic Growth of the European Union (2010-2019)
Version 1
: Received: 9 June 2023 / Approved: 9 June 2023 / Online: 9 June 2023 (13:02:59 CEST)
A peer-reviewed article of this Preprint also exists.
Török, L. Effects of Energy Economic Variables on the Economic Growth of the European Union (2010–2019). Energies 2023, 16, 6094. Török, L. Effects of Energy Economic Variables on the Economic Growth of the European Union (2010–2019). Energies 2023, 16, 6094.
Abstract
The economic downturn caused by the financial crisis of 2008-2009 and the intensifying glob-al climate policy trends forced changes in the energy management of the European Union. The study examined how the most relevant energy economic variables affected the economic growth of the EU between 2010-2019. The study examined the relationship between GDP (dependent variable) and energy consumption, greenhouse gas emissions, the average energy price, and renewable energy use (independent variables) using the PSL-PM methodology. The results show an asymmetric picture because the independent variables influenced the eco-nomic growth of the EU in the examined period with different correlations and with different strengths. One of the significances of the study is that the presented and analyzed variables, as well as the results of the relationships between them, can contribute to the optimization of the EU's currently critical energy management and economic growth.
Keywords
economic growth, energy economics, independent energy variables, PLS-PM analysis, asymmetric effect
Subject
Business, Economics and Management, Economics
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.
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