CERE Working Papers, CERE - the Center for Environmental and Resource Economics
Renewable Energy Policy, Economic Growth and Employment in EU Countries: Gain without Pain?
(), Amin Karimu
(), Andrius Kažukauskas
() and Paulius Kažukauskas
Abstract: Given the intensifying debates whether governments should
use industrial policies to promote particular renewable energy
technologies, the main objective of this study is to investigate the
long-run effects of renewable energy support policies on economic growth
and employment in 15 European Union (EU) member states for the 1990-2012
time period by using panel-data time-series econometric techniques. The
first hypothesis is that the EU’s renewable energy support policies lead to
technological advancement, followed by economy growth, in the long-run. The
second hypothesis states that these policies at least generate an increase
in output and employment in the short-run. In summary, our results provide
some evidence in support of the second hypothesis, but, in contrary to the
similar studies, our findings do not support the first hypothesis that
these policies promote growth in the long-run.
Keywords: economic growth; EU; Granger causality; panel cointegration; policy; renewable energy; (follow links to similar papers)
JEL-Codes: O44; Q43; Q48; (follow links to similar papers)
31 pages, June 8, 2015
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