The Causal Nexus Among Energy Dependency, Human Capital, and Renewable Energy: An Empirical Analysis for EU Members

Gamze Sart, Halil Özekicioğlu (), Marina Danilina, Levent Aytemiz and Yilmaz Bayar
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Gamze Sart: Department of Educational Sciences, Hasan Ali Yucel Faculty of Education, İstanbul University-Cerrahpaşa, 34500 İstanbul, Turkey
Halil Özekicioğlu: Department of International Trade and Logistics, Faculty of Applied Sciences, Akdeniz University, 07070 Antalya, Turkey
Marina Danilina: Department of Economics, Plekhanov Russian University of Economics (PRUE), 115054 Moscow, Russia
Levent Aytemiz: Department of Public Finance, Faculty of Economics and Administrative Sciences, Bandirma Onyedi Eylul University, 10200 Bandirma-Balikesir, Turkey
Yilmaz Bayar: Department of Public Finance, Faculty of Economics and Administrative Sciences, Bandirma Onyedi Eylul University, 10200 Bandirma-Balikesir, Turkey

Energies, 2024, vol. 17, issue 21, 1-17

Abstract: Countries have turned to developing renewable energy production, avoiding the risks posed by the disruptions in global energy trade, the high volatility in energy prices, and the remarkable environmental impairment. Numerous economic, environmental, institutional, and social factors have been put forward as driving factors toward renewable energy. The goal of this research article is to study the causal nexus among energy dependency, human capital, real GDP per capita, CO 2 emissions, and renewable energy of the 27 EU members between 2000 and 2020 through Emirmahmutoglu and Kose causality test. The results of the panel-level causality tests demonstrate feedback interplay among energy dependency, human capital, real GDP per capita, CO 2 emissions, and renewable energy use. However, the results of the country-level causality analysis unveil that the interplay among renewable energy utilization, energy dependency, real GDP per capita, CO 2 emissions, and human capital remarkably varies among EU members. The results of this study suggest that renewable energy investments are significant instruments to make progress in energy security, human capital, real GDP per capita, and CO 2 emissions. Furthermore, energy security, human capital, real GDP per capita, and CO 2 emissions are significant drivers of renewable energy development.

Keywords: energy dependency; renewable energy; human capital; real GDP per capita; CO 2 emissions; panel causality test (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: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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