Suproń, B.; Myszczyszyn, J. Impact of Renewable and Non-Renewable Energy Consumption and CO2 Emissions on Economic Growth in the Visegrad Countries. Energies2023, 16, 7163.
Suproń, B.; Myszczyszyn, J. Impact of Renewable and Non-Renewable Energy Consumption and CO2 Emissions on Economic Growth in the Visegrad Countries. Energies 2023, 16, 7163.
Suproń, B.; Myszczyszyn, J. Impact of Renewable and Non-Renewable Energy Consumption and CO2 Emissions on Economic Growth in the Visegrad Countries. Energies2023, 16, 7163.
Suproń, B.; Myszczyszyn, J. Impact of Renewable and Non-Renewable Energy Consumption and CO2 Emissions on Economic Growth in the Visegrad Countries. Energies 2023, 16, 7163.
Abstract
The study presents empirical results investigating the relationships among renewable and non-renewable energy consumption, CO2 emissions, and GDP within the Visegrád Group (V4) countries. Using FMOLS/DOLS and ARDL approaches, along with causality tests based on the Toda-Yamamoto method, the study explores these relationships at a regional level. The findings indicate that renewable energy has a small positive impact on long-term economic growth, with non-renewable energy having a more significant effect. Moreover, CO2 emissions have a negative impact on economic growth, suggesting ongoing reliance on non-renewable energy sources and a burden on economic expansion. On an individual country level, the effects vary. Poland, Slovakia, and Hungary exhibit a negative relationship between CO2 emissions and economic growth. Energy sources also differ in impact: in Poland, the Czech Republic, and Slovakia, non-renewable energy significantly affects economic growth, while in Hungary, renewable energy plays a more substantial role. Causality tests reveal a causal relationship between CO2 emissions and economic growth in the Czech Republic and Poland, suggesting CO2 emissions significantly influence economic expansion. In terms of energy production, renewable energy is causally related to economic growth in the Czech Republic and Slovakia. All countries demonstrate significant causality between non-renewable energy and economic growth. Additionally, a relationship between renewable energy and CO2 emissions is confirmed in Poland.
Keywords
Renewable energy, CO2 emission, Economic growth, FMOLS, DOLS, ARDL, Panel data
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.
