Sustainable development, environmental policy and renewable energy use: A dynamic panel data approach
Panagiotis Fotis () and
Michael Polemis ()
MPRA Paper from University Library of Munich, Germany
The aim of this paper is to cast light on the relationship between sustainable development environmental policy and renewable energy use. We utilize a dynamic GMM approach over a panel of 34 European Union (EU) countries spanning the period 2005-2013. Our findings reveal a positive monotonic relationship between development and pollution. Energy saving positively affects environmental degradation, while energy intensity increases air pollution. Our findings imply important policy implications to policy makers toward sustainability. Despite the fact that the Europe “20-20-20” climate and energy package strategy seems to be achieved, the recently adopted Energy Roadmap 2050 must be updated on regular basis in order to be effectively implemented and monitored by government officials and firms’ stakeholders. Therefore, we argue that EU countries must increase the use of new technology and renewable energy capacity in order to align environmental policies towards more efficient energy use and sustainable development among the EU periphery.
Keywords: Sustainable Development; Environmental Policy; Renewable Energy Sources; Dynamic Panel Data Analysis (search for similar items in EconPapers)
JEL-codes: D23 L16 O11 Q56 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-eec, nep-ene, nep-env and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:85018
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