Work detail

Impact of energy consumption on economic growth and potential of renewable fuels

Author: Marouan Torkhani
Year: 2016 - winter
Leaders: prof. Ing. Karel Janda M.A., Dr., Ph.D.
Consultants:
Work type: Masters
MEF
Language: English
Pages: 89
Awards and prizes:
Link: https://is.cuni.cz/webapps/zzp/detail/152131/
Abstract: This master thesis aims to examine the relationship between energy consumption and economic growth
and between energy consumption and greenhouse emissions for the EU countries, using a panel time
series data from 1996 to 2012 within a multivariate framework for 26 EU countries. The energies are
composed from oil consumption, natural gas consumptions, and renewable energies including the
biomass as a distinct part. To do that, Unit Root Tests, cointegration test, Pairwise Granger causality
tests, and Error Correction Model are employed to find out the type of the causal relationship. The main
results to denote are that, there is in the short run, a positive unidirectional causal relationship running
from oil consumption to economic growth. We can as well denote a positive bidirectional causal
relationship between renewable energies and economic growth and between greenhouse emissions and
economic growth. However, there is an unexpected negative bidirectional causal relationship between
biomass consumption and gas consumption. From the greenhouse emissions perspective, we can see in
the short run, a negative bidirectional causal relationship between greenhouse emissions and renewable
energies, and a positive unidirectional causal relationship running from both oil consumption and
biomass consumption to greenhouse emissions.
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