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Assessment of the Impact of Bioenergy on Sustainable Economic Development

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  • Mihail Busu

    (Faculty of Management, The Bucharest University of Economic Studies, 6 Piata Romana, 1st district, 010374 Bucharest, Romania)

Abstract

The Solow-Swan macroeconomic model reveals the fact that the marginal capital rate of the bioenergy sector, as well as the bioenergy productivity and productivity of the resources variation, having positive values of their estimated coefficients, have the capacity of stimulating the sustainable economic development of an emerging country, such as Romania. The economic model substantiated by the correlations between the macroeconomic indicators evaluates the convergence in relation with the European Union (EU) average. The main objective of this paper is to analyze the impact of bioenergy on sustainable economic development. The econometric analysis revealed the fact that the bioenergy productivity, the productivity of the resources and the capital productivity of the bioenergy sector have a positive and statistically significant impact on the sustainable economic development. Data was collected from The European Statistical Office and analyzed with SPSS 22 statistical software package. Quantitative methods highlight the disparities between developed and developing countries of EU in terms of bioenergy use and efficiency.

Suggested Citation

  • Mihail Busu, 2019. "Assessment of the Impact of Bioenergy on Sustainable Economic Development," Energies, MDPI, vol. 12(4), pages 1-11, February.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:4:p:578-:d:205339
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    4. Mihail Busu, 2019. "The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level," Sustainability, MDPI, vol. 11(19), pages 1-16, September.
    5. Fabio G. Santeramo & Monica Delsignore & Enrica Imbert & Mariarosaria Lombardi, 2023. "The Future of the EU Bioenergy Sector: Economic, Environmental, Social, and Legislative Challenges," International Review of Environmental and Resource Economics, now publishers, vol. 17(1), pages 1-1–52, April.
    6. Luis Fonseca & Filipe Carvalho, 2019. "The Reporting of SDGs by Quality, Environmental, and Occupational Health and Safety-Certified Organizations," Sustainability, MDPI, vol. 11(20), pages 1-20, October.
    7. Idiano D’Adamo & Piergiuseppe Morone & Donald Huisingh, 2021. "Bioenergy: A Sustainable Shift," Energies, MDPI, vol. 14(18), pages 1-5, September.
    8. Corina Pelau & Roxana Sarbu & Daniela Serban, 2020. "Cultural Influences on Fruit and Vegetable Food-Wasting Behavior in the European Union," Sustainability, MDPI, vol. 12(22), pages 1-15, November.
    9. Mateus Torres Nazari & Janaína Mazutti & Luana Girardi Basso & Luciane Maria Colla & Luciana Brandli, 2021. "Biofuels and their connections with the sustainable development goals: a bibliometric and systematic review," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(8), pages 11139-11156, August.
    10. Wu, Hong, 2023. "Evaluating the role of renewable energy investment resources and green finance on the economic performance: Evidence from OECD economies," Resources Policy, Elsevier, vol. 80(C).
    11. Mihail Busu, 2020. "Analyzing the Impact of the Renewable Energy Sources on Economic Growth at the EU Level Using an ARDL Model," Mathematics, MDPI, vol. 8(8), pages 1-18, August.

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