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Energy Structure and Economic Growth in the EU

Author

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  • Razvan Gabriel Cristian
  • Laura Obreja Brasoveanu

Abstract

This study analyses the relationship between energy structure, economic growth, and human development in the EU-27 during 2013–2023. Using panel regression models, it examines how conventional and renewable energy sources influence GDP growth, GDP per capita growth, and HDI. Results show that conventional energy continues to support economic growth, while renewable energy effects vary across technologies. Biomass and wind energy are generally linked to positive outcomes, whereas solar energy and renewable intensity display mixed effects. A higher share of renewables supports human development, while unemployment, poverty, and fossil fuel dependence negatively affect HDI, highlighting important policy implications.

Suggested Citation

  • Razvan Gabriel Cristian & Laura Obreja Brasoveanu, 2026. "Energy Structure and Economic Growth in the EU," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 18(1), pages 7-33, June.
    • Handle: RePEc:rfb:journl:v:18:y:2026:i:1:p:7-33
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