Energy Transition Towards a Greener and More Competitive Economy: The Iberian Case

Ismael Pérez-Franco, Agustín García and Juan J. Maldonado-Briegas
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Ismael Pérez-Franco: Department of Economy, Faculty of Economic and Business Sciences, University of Extremadura, Avda. Elvas s/n, 06006 Badajoz, Spain
Juan J. Maldonado-Briegas: Department of Financial Economics and Accounting, Faculty of Economic and Business Sciences, University of Extremadura, Avda. Elvas s/n, 06006 Badajoz, Spain

Sustainability, 2020, vol. 12, issue 8, 1-14

Abstract: In this paper, we analyze the effects of the energy transition process on economic growth in Spain and Portugal, countries that, adhering to European Union (EU) directives, opted to promote clean energies from the very start. On the one hand, we look at the energy transition laws introduced by the EU and other countries. On the other, we conduct a causal analysis of energy consumption and economic growth to confirm whether the change of energy model has generated positive effects on economic growth. The procedure was as follows. First, we conducted an aggregate causality analysis exploring the relationship between growth and energy consumption. As the results were not significant, we repeated the analysis with different disaggregations of renewable energy sources. With respect to solar thermal energy and economic growth, the main conclusion is that the data appear to show a one-way causal relationship for Portugal and EU-26 (European Union without Portugal and Spain) and a two-way relationship for Spain.

Keywords: energy transition; economic growth; renewable energy; Granger causality; Iberian economies (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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