Analysing the impact of the biomass sector on economic growth in Romania using econometric modelling
Busu Cristian (),
Busu Mihail (),
Goia Simona () and
Nedelcu Catalina Alexandra ()
Additional contact information
Busu Cristian: Bucharest University of Economic Studies, Bucharest, Romania
Busu Mihail: Bucharest University of Economic Studies, Bucharest, Romania
Goia Simona: Bucharest University of Economic Studies, Bucharest, Romania
Nedelcu Catalina Alexandra: Bucharest University of Economic Studies, Bucharest, Romania
Management & Marketing, 2024, vol. 19, issue 3, 520-537
Abstract:
The growing importance of sustainable energy sources, driven by environmental concerns and energy security, has led to increased interest in the biomass sector's impact on economic growth. This study employs multiple linear regression analysis to examine how the biomass sector influences Romania's economic landscape. The aim of this research is to unravel the sector's dynamics, understanding its contribution to the national economy, and exploring its potential in advancing sustainable development objectives. A comprehensive literature review delves into past studies probing the relationship between the biomass sector and economic growth, with an emphasis on the Romanian context. Key economic indicators and variables are identified and included in the regression model. The empirical analysis is based on data obtained from various sources, allowing for a robust examination, and the results of the multiple linear regression analysis reveal significant insights into the dynamics of the biomass sector's impact on economic growth in Romania. Furthermore, potential confounding factors are considered, and their influence on the findings is discussed. The paper also includes a stakeholder analysis for using black pellets as the biomass option of choice in the energy sector. Contributing to existing knowledge, the research sheds light on Romania’s biomass sector specific context, while discussing practical and policy implications, and offering guidance to stakeholders and policymakers in sustainable energy and economic development. Emphasising the pivotal role of biomass in economic growth, the study underscores the need for informed decision making and policy development to nurture this sector in Romania.
Keywords: biomass sector; economic growth Romania; Multiple Linear Regression Analysis; Sustainability; Renewable Energy; Environmental Impact (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
https://doi.org/10.2478/mmcks-2024-0023 (text/html)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:vrs:manmar:v:19:y:2024:i:3:p:520-537:n:1007
DOI: 10.2478/mmcks-2024-0023
Access Statistics for this article
Management & Marketing is currently edited by Alina Mihaela Dima
More articles in Management & Marketing from Sciendo
Bibliographic data for series maintained by Peter Golla ().