Determinants of Investments in Energy Sector in Poland

Robert Lisowski, Maciej Woźniak, Paweł Jastrzębski, Simeon Karafolas and Marek Matejun
Additional contact information
Robert Lisowski: AGH University of Science and Technology, 30-059 Kraków, Poland
Maciej Woźniak: AGH University of Science and Technology, 30-059 Kraków, Poland
Paweł Jastrzębski: AGH University of Science and Technology, 30-059 Kraków, Poland
Simeon Karafolas: Department of Accounting and Finance, University of Western Macedonia, 501 00 Kozani, Greece
Marek Matejun: Faculty of Management, University of Lodz, 90-137 Łódź, Poland

Energies, 2021, vol. 14, issue 15, 1-17

Abstract: There is much research about the determinants of investments, but there is a shortage of similar studies for Poland. Therefore, the overall goal of the paper is to analyze the determinants of investments made by enterprises from the energy sector as well as their delays in Poland in the years 2000–2019. In this period, a strong growth of investments in energy was observed in the country. In connection to this, the authors set four hypotheses and verified them with the following statistical methods: canonical analysis, linear and causality correlation, autocorrelation and cointegration tests. The paper found that there is a relationship between public consumption and investment spending of small enterprises in Poland. That means that only some macroeconomic parameters are connected with investments. Moreover, the changes in the value of past investments has a negative influence in current investments.

Keywords: energy sector; investments; macroeconomic indicators; GDP; interest rates; Poland (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.mdpi.com/1996-1073/14/15/4526/pdf (application/pdf)
https://www.mdpi.com/1996-1073/14/15/4526/ (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:gam:jeners:v:14:y:2021:i:15:p:4526-:d:602263

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().