The relationship between economic growth, international trade and energy efficiency in European countries: An Autoregressive Distributed Lag (ARDL) modeling approach

Bohdan Kyshakevych, Stepan Nastoshyn, Olha Melnyk, Natalia Maksyshko and Oleksandr Svintsov

RIVISTA DI STUDI SULLA SOSTENIBILITA', 2024, vol. XIV, issue 2, 141-160

Abstract: In order to analyze the nature of relationship among time series represented eco-nomic growth, international trade and energy efficiency of 38 European countries for the period from 1995 to 2022 we employed the ARDL model. We identified bidirectional long-term causal relationships between energy intensity and GDP growth rates, as well as between carbon dioxide emissions intensity, GDP per capi-ta and the proportion of exports in GDP. The analysis showed that over the long term, enhancing the energy intensity contributes to an increase in their rate of eco-nomic growth. However, in the short term, energy intensity have a negative impact on the GDP growth. Policymakers can use the paper's findings to design policies that balance benefits of reducing energy intensity with sustainable growth.

Date: 2024
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