The Impact of Renewable Energy Policies and Financial Development on CO2 Emissions and Economic Growth in EU Countries

Fatbardha Morina (), Uğur Ergün and Chrysanthi Balomenou ()
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Fatbardha Morina: Epoka University
Uğur Ergün: Epoka University
Chrysanthi Balomenou: Epoka University

A chapter in The Changing Financial Landscape, 2021, pp 97-107 from Springer

Abstract: Abstract The purpose of this study is to examine the impact of renewable energy policies and financial development on CO2 emissions and economic growth in EU countries. The panel vector autoregression (PVAR) model is employed to investigate the relationship between renewable energy policies, financial development with CO2 emissions, and economic growth during the period of 2000–2017. The results show that renewable policies for solar influence negatively economic growth. However, the polices followed for wind technologies influence positively economic growth. Also, financial development and renewable policies for wind technologies seem to influence CO2 emissions. The results indicate that policymakers should pay attention to the efficiency of policies in renewable energy to increase energy demand from renewable energy sources and to reduce emissions in the environment.

Keywords: CO2 emissions; Support schemes; Economic growth; Renewable energy; Financial development; O44; Q43; Q48 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-82778-6_6

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DOI: 10.1007/978-3-030-82778-6_6

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