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Macroeconomic Indicators Used to Study the Efficiency of Investments in Renewable Energy Field


  • Corina PÎRLOGEA

    () (The Bucharest University of Economic Studies, Romania)

  • Ion POPA

    () (The Bucharest University of Economic Studies, Romania)

  • Corina FR?SINEANU

    () (The Bucharest University of Economic Studies, Romania)


This paper aims to analyze the main indicators used to express the efficiency of renewable energy investments at macroeconomic level. Based on three econometric models, we present the calculation method of these indicators, along with interpretation. In the study are included countries with very high and high human development, member states of the European Union. Results indicate that all countries have a good economic efficiency of investments in renewable energy, but low social efficiency. As for the environmental efficiency of renewable investments, the findings reveal that only six European countries manage to direct their efforts to mitigate carbon dioxide emissions and in this way to have a high environmental efficiency of investments.

Suggested Citation

  • Corina PÎRLOGEA & Ion POPA & Corina FR?SINEANU, 2012. "Macroeconomic Indicators Used to Study the Efficiency of Investments in Renewable Energy Field," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(2), pages 308-315, December.
  • Handle: RePEc:rom:econmn:v:15:y:2012:i:2:p:308-315

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    References listed on IDEAS

    1. Hatzigeorgiou, Emmanouil & Polatidis, Heracles & Haralambopoulos, Dias, 2011. "CO2 emissions, GDP and energy intensity: A multivariate cointegration and causality analysis for Greece, 1977-2007," Applied Energy, Elsevier, vol. 88(4), pages 1377-1385, April.
    2. Tsilingiridis, G. & Sidiropoulos, C. & Pentaliotis, A., 2011. "Reduction of air pollutant emissions using renewable energy sources for power generation in Cyprus," Renewable Energy, Elsevier, vol. 36(12), pages 3292-3296.
    3. Stephan B. Bruns & Christian Gross, 2012. "Can Declining Energy Intensity Mitigate Climate Change? Decomposition and Meta-Regression Results," Papers on Economics and Evolution 2012-11, Philipps University Marburg, Department of Geography.
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    More about this item


    renewable energy investments; economic efficiency; ecological efficiency; social efficiency.;

    JEL classification:

    • C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy


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