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Changes in the Energy Consumption in EU-27 Countries

100%

Hajko V.

Review of Economic Perspectives

2012

vol. 12

issue 1

3-21

The complete decomposition method is applied to changes in energy consumption in the countries of EU-27. This method decomposes the changes in energy use into three different effects: a change in energy consumption due to an increase of economic activity (the activity effect), a change in energy consumption due to a relative increase of significance of a country in the group (the structure effect) and a change in energy consumption due to a change of energy efficiency measured as energy intensity (the intensity effect). The results confirm that there is a difference in development of these effects between the old (EU-15) and the new member countries. The results show that the activity effect is the most significant effect in old member countries (EU-15), and is on average 1.13 times higher than in new member countries. The intensity effect is the main diversifying factor between the two groups and the most significant effect for the new member countries. The intensity effect is almost universally negative in all countries, and compensates for the other effects. Because of the importance of the effect, energy intensity convergence is examined. It is found that even by the "rough" distinction between the new and the old member countries, the convergence in energy intensity in new member countries can be found (in the old member countries there is no energy intensity convergence).

Energy Consumption and Economic Growth in the European Union: a Causality Analysis

63%

Grodzicki T., Jankiewicz M.

Ekonomista

2020

issue 4

616-627

Sektor energetyczny jest jedną z najważniejszych kwestii w polityce gospodarczej Unii Europejskiej, ponieważ ma duży wpływ na jakość życia i wzrost gospodarczy. Celem tego artykułu jest zbadanie związku przyczynowego między zużyciem energii a wzrostem gospodarczym w Unii Europejskiej na podstawie danych z lat 1960-2015. Wyniki empiryczne uzyskane przy pomocy testu przyczynowości w sensie Grangera wyraźnie wskazują, że zużycie energii przyczyniło się do wzrostu gospodarczego w Unii Europejskiej. Mówiąc ściślej, wzrost zużycia energii prowadził do wzrostu PKB per capita w następnym okresie. Związek ten jest często nazywany hipotezą wzrostu, co oznacza, że zużycie energii może stymulować wzrost gospodarczy. Badanie to analizuje również odwrotną zależność: wpływ wzrostu gospodarczego na zmianę zużycia energii, co nazywa się hipotezą konserwacyjną. Analiza ta nie wykazała jednak, że wzrost gospodarczy nie wpływa na zużycie energii w UE w badanym okresie. W analizie badanej zależności wykorzystano wektorowy model autoregresji (VAR). Ponadto analiza odpowiedzi na impuls pokazuje zachowanie obydwu procesów wskutek jednostkowej, nieoczekiwanej zmiany jednego z nich.

Energy sector is one of the most important matters in the economic policies of the European Union since it has a significant impact on the quality of life and economic growth. The aim of this paper is to examine the causal relationship between energy consumption and economic growth in the European Union, based on the data from the period of 1960-2015. Using a Granger causality test, empirical results clearly indicate that energy consumption contributed to economic growth in the European Union. More precisely, an increase in energy consumption led to an increase in GDP per capita growth in the next period. This relationship is often called a growth hypothesis, which implies that energy consumption can stimulate economic growth. This research also analyzed the opposite relationship: the impact of economic growth on the change in energy consumption, which is called conservation hypothesis. However, this analysis has not proved such an impact in the considered period. The vector autoregression model (VAR) was used in the dependency analysis. In addition, an analysis of the impulse response shows the behavior of both processes as a result of a unitary, unexpected change in one of them.

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Changes in the Energy Consumption in EU-27 Countries

Energy Consumption and Economic Growth in the European Union: a Causality Analysis