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Sustainable Economic Development and Greenhouse Gas Emissions: The Dynamic Impact of Renewable Energy Consumption, GDP, and Corruption

Author

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  • Tetyana Vasylieva

    (Department of Finance and Entrepreneurship, Sumy State University, Ryms’koho-Korsakova St, 2, 40000 Sumy, Sums’ka Oblast, Ukraine)

  • Oleksii Lyulyov

    (Marketing Department, Sumy State University, Ryms’koho-Korsakova St, 2, 40000 Sumy, Sums’ka Oblast, Ukraine)

  • Yuriy Bilan

    (Department of Management and Human Resources Development, Alexander Dubček University of Trenčín, Studentska 3, 911 50 Trenčín, Slovakia
    Faculty of Management, University of Social Sciences, Sienkiewicza str. 9, 90-113 Lodz, Poland)

  • Dalia Streimikiene

    (Kaunas Faculty, Vilnius University, Muitines 8, 44-280 Kaunas, Lithuania)

Abstract

The paper investigates the relationships between economic, social, and environmental dimensions of sustainable development. GDP growth represents the main economic dimension, greenhouse gas (GHG) emissions and renewable energy consumption the environmental dimension, and corruption the social dimension of sustainable development. The investigation of these relationships is based on the concept of the Environmental Kuznets Curve hypothesis about the non-linear relationship between economic growth and environmental pollution. The authors used the panel data of EU countries and Ukraine for 2000–2016 years from the Eurostat database. The obtained results confirmed the Environmental Kuznets curve hypothesis for the EU and Ukraine. All the indicators were statistically significant at 1% and 5% levels. The findings proved that increasing renewable energy (RE) by 1% led to a decline of GHG in the interval (0.166103, 0.220551), and аn increase of the Control of Corruption Index by 1% provoked a decline of GHG by 0.88%. The conducted study enabled the authors to conclude that Ukraine needs to increase the GDP level per capita given the economy diversification and via the introduction of more effective and “clean” production technologies.

Suggested Citation

  • Tetyana Vasylieva & Oleksii Lyulyov & Yuriy Bilan & Dalia Streimikiene, 2019. "Sustainable Economic Development and Greenhouse Gas Emissions: The Dynamic Impact of Renewable Energy Consumption, GDP, and Corruption," Energies, MDPI, vol. 12(17), pages 1-12, August.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:17:p:3289-:d:261180
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