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Renewable Energy Policy, Economic Growth and Employment in EU Countries: Gain without Pain?

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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.

Suggested Citation

  • Jaraite, Jurate & Karimu, Amin & Kažukauskas, Andrius & Kažukauskas, Paulius, 2015. "Renewable Energy Policy, Economic Growth and Employment in EU Countries: Gain without Pain?," CERE Working Papers 2015:7, CERE - the Center for Environmental and Resource Economics.
    • Handle: RePEc:hhs:slucer:2015_007
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    Cited by:

    1. Gulmira Azretbergenova & Beybit Syzdykov & Talgat Niyazov & Turysbekova Gulzhan & Nazira Yskak, 2021. "The Relationship between Renewable Energy Production and Employment in European Union Countries: Panel Data Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 11(3), pages 20-26.

    More about this item

    Keywords

    economic growth; EU; Granger causality; panel cointegration; policy; renewable energy;
    All these keywords.

    JEL classification:

    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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