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Comparative performance of renewable and nonrenewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: A PVAR approach

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  • Aviral Kumar Tiwari

    (ICFAI University, Tripura)

Abstract

In the study, we analyzed the relative performance of RES and NRES on economic growth in European and Eurasian countries in a panel framework. The dynamics of these variables are also analyzed in relation to CO2 emissions. We used PVAR approach for analysis for the period 1965 to 2009 and find that growth rate of NRES has negative impact on the growth rate of GDP and also increase CO2 emissions. The imapct of RES, in general, is found to be positive on the growth rate of GDP. Hence, we recommend the reduction of the consumption of NRES in order to attain higher economic growth, increase economic efficiency and employment with clean and sustainable environment in Europe and Eurasian countries.

Suggested Citation

  • Aviral Kumar Tiwari, 2011. "Comparative performance of renewable and nonrenewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: A PVAR approach," Economics Bulletin, AccessEcon, vol. 31(3), pages 2356-2372.
    • Handle: RePEc:ebl:ecbull:eb-11-00479
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    More about this item

    Keywords

    Renewable and nonrenewable energy sources; Economic growth; CO2 emissions; PVAR;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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