Renewable Energy Consumption and the Ecological Footprint in Denmark: Assessing the Influence of Financial Development and Agricultural Contribution

Mesut Dogan, Irina Georgescu (), Hamza Çeştepe, Sevgi Sümerli Sarıgül and Havanur Ergün Tatar
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Mesut Dogan: Department of Finance, Banking, and Insurance, Bilecik Seyh Edebali University, Bilecik 11230, Türkiye
Irina Georgescu: Department of Economic Informatics and Cybernetics, Bucharest University of Economics, 010374 Bucharest, Romania
Hamza Çeştepe: Department of Economics, Zonguldak Bülent Ecevit University, Zonguldak 67100, Türkiye
Sevgi Sümerli Sarıgül: Department of International Trade, Kayseri University, Kayseri 38280, Türkiye
Havanur Ergün Tatar: Department of Economics, Bartın University, Bartın 74110, Türkiye

Agriculture, 2025, vol. 15, issue 8, 1-19

Abstract: The aim of this study is to empirically examine the relationship between renewable energy consumption and the ecological footprint (EF), using Denmark as a case study, based on data covering the period from 1990 to 2020. In examining this relationship, the roles of agricultural, forestry, and fisheries value-added; economic growth; and financial development are also explored. The analysis, conducted using fractional frequency Fourier approaches, considers the presence of structural breaks. The results reveal a negative relationship between renewable energy consumption and EF, while a positive relationship is found between agricultural, forestry, and fisheries value-added; economic growth; and financial development with the EF. According to the causality analysis, a unidirectional causality is detected from renewable energy consumption to the EF. These findings highlight the potential impact of renewable energy on EF and emphasize the importance of integrating green energy investments and renewable fuel usage into strategies aimed at reducing the EF.

Keywords: agriculture; renewable energy; ecological footprint; financial development; Denmark (search for similar items in EconPapers)
JEL-codes: Q1 Q10 Q11 Q12 Q13 Q14 Q15 Q16 Q17 Q18 (search for similar items in EconPapers)
Date: 2025
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