The Role of Energy Consumption and Economic Growth on Carbon Emission- Application of Artificial Neural Network

Hemant Kumar Sah, Gyanendra Singh Sisodia, Gouher Ahmed, Aqila Rafiuddin and Naseem Abidi
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Hemant Kumar Sah: Alliance University, Bengaluru, Karnataka, India,
Gyanendra Singh Sisodia: College of Business Administration, Ajman University, United Arab Emirates,
Gouher Ahmed: Skyline University College, United Arab Emirates,
Aqila Rafiuddin: Birla Institute of Technology and Science (BITS), Pilani Dubai Campus, Department of Management Science, Dubai, UAE; & Tecnologico de Monterrey, Business School, San Luis Potosi, Mexico,
Naseem Abidi: Skyline University College, United Arab Emirates.

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 6, 591-596

Abstract: This paper examines the influence of gross domestic product (GDP) and energy consumption (renewable energy and non-renewable energy) on carbon emissions in European Union (EU) Countries use of panel data from 2000 to 2020. By using Artificial Neural Network (ANN) machine learning computational technique, variables are categorized into input and output parameters. The result from the analyses shows that RMSE values of all variables are significant. Further, the normalized importance obtained from the multilayer perception ANN algorithm highlights the importance of variables and their association. The finding suggests that EU countries should adopt a clean energy strategy and policy for environmental protection without compromising economic growth.

Keywords: GDP growth; Energy Consumption; Carbon Emission; Artificial Neural Network (search for similar items in EconPapers)
JEL-codes: C63 F43 K32 O13 P18 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2023-06-61

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