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Erscheinungsjahr: 
2024
Quellenangabe: 
[Journal:] Amfiteatru Economic [ISSN:] 2247-9104 [Volume:] 26 [Issue:] Special Issue No. 18 [Year:] 2024 [Pages:] 1048-1064
Verlag: 
The Bucharest University of Economic Studies, Bucharest
Zusammenfassung: 
This article examines the relationship between business cycles and renewable energy consumption (REC/capita) in the European Union (EU) over the past two decades. Using a panel data regression model, the study identifies GDP growth, government effectiveness, regulatory quality, and political stability as significant indicators impacting REC across all EU member states. The model presents significant regression coefficients, emphasising that these variables have a consistent impact on REC. Our research findings confirm the conservation hypothesis developed in the specific literature, identifying the REC s sensitivity to different economic shocks. From this perspective, the EU policymakers should consider a balanced approach between economic and environmental SDGs since economic growth not only promotes short-run welfare, but also contributes to long-run environmental sustainability.
Schlagwörter: 
business cycle
economic growth
renewable energy consumption
sustainable development
government effectiveness
regulatory framework
JEL: 
L26
O31
Q01
Q56
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