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The Effect of Renewable Energy Consumption on Economic Growth in Croatia

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  • Pearson Sonia

    (PhD Candidate at Faculty of Business and Economics, University of Zagreb, Trg J. F. Kennedy 6, HR-10000 Zagreb, Croatia, Tel: 00 385 95 5829342)

Abstract

This paper investigates the effect of renewable energy on economic growth in Croatia for the period 1996-2018. The Autoregressive Distributed Lag (ARDL) technique is used to find the long run relationships between renewable energy, energy consumption and economic growth. The empirical analysis indicates that renewable energy has a positive and significant effect on economic growth in the short and long run. These findings indicate that the Croatian government can continue to boost renewable energy investment without impeding economic growth.

Suggested Citation

  • Pearson Sonia, 2021. "The Effect of Renewable Energy Consumption on Economic Growth in Croatia," Zagreb International Review of Economics and Business, Sciendo, vol. 24(1), pages 113-126.
    • Handle: RePEc:vrs:zirebs:v:24:y:2021:i:1:p:113-126:n:1006
    DOI: 10.2478/zireb-2021-0006
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    References listed on IDEAS

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    1. Sadorsky, Perry, 2009. "Renewable energy consumption and income in emerging economies," Energy Policy, Elsevier, vol. 37(10), pages 4021-4028, October.
    2. Apergis, Nicholas & Payne, James E., 2012. "Renewable and non-renewable energy consumption-growth nexus: Evidence from a panel error correction model," Energy Economics, Elsevier, vol. 34(3), pages 733-738.
    3. Omri, Anis & Nguyen, Duc Khuong, 2014. "On the determinants of renewable energy consumption: International evidence," Energy, Elsevier, vol. 72(C), pages 554-560.
    4. da Silva, Patrícia Pereira & Cerqueira, Pedro André & Ogbe, Wojolomi, 2018. "Determinants of renewable energy growth in Sub-Saharan Africa: Evidence from panel ARDL," Energy, Elsevier, vol. 156(C), pages 45-54.
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    More about this item

    Keywords

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    JEL classification:

    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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