The Interactions Between Renewable Energy Consumption, Economic Growth, and Globalisation: Fresh Evidence from the Mercosur Countries

Matheus Koengkan () and José Alberto Fuinhas ()
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Matheus Koengkan: University of Aveiro

Chapter Chapter 4 in Globalisation and Energy Transition in Latin America and the Caribbean, 2022, pp 63-99 from Springer

Abstract: Abstract The nexus between economic growth, green energy consumption, fossil fuels, and globalisation is studied in this chapter. Data for five Mercosur countries between 1980 and 2014 and the panel vector autoregression (PVAR) methodology are used. The results from PVAR model regression and panel Granger causality Wald pointed to bidirectional causality between renewable and fossil fuel consumption and economic growth. The results also suggested that the Mercosur countries are dependent on fossil fuels. Moreover, the results also indicated that the globalisation process has a positive indirect influence on renewable energy consumption. The results obtained can be used for local governments to examine further the nexus between economic growth and energy consumption and design new policies aiming to increase energy consumption from renewable sources and promote economic development.

Keywords: Energy economics; Economic growth; Energy; Econometrics; Macroeconomics; Mercosul; Renewable energy; F43; F62; Q43 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-13885-0_4

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DOI: 10.1007/978-3-031-13885-0_4

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