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Renewable energy andits relation to economic growth : An analysis of high-income and low-income countriesHavskog, Karin, Binsaj, Aadil January 2024 (has links)
Renewable energy and economic growth are among the central issues in the two-prongeddisciplines of economics and sustainability. This study explores the impact of renewable energygeneration on economic growth. Utilizing the theoretical framework of Energy Growth Nexus,the research employs a neo-classical production function in several panel data econometricmodels. Sixty nations across the globe are categorized into high-income countries and lowincome countries equally by the World Bank´s income-classifications calculated using theWorld Bank Atlas method. Renewable energy and non-renewable energy generation along withcomponents of production functions such as labor force and investments are examined for theperiod 2000-2021 to identify their impact on GDP. All the variables explored in the study arenormalized by population to account for population differences across countries. Our findingsrobustly support the growth hypothesis, that renewable energy acts as a catalyst to economicdevelopment. The empirical results indicate that there is an association between the renewableenergy and GDP per capita regardless of the nation´s income levels. Robustness checks withdata from a decade preceding the initial analysis are also conducted to ensure the initial findingsare consistent and not an anomaly. The empirical findings from the study offers insights togovernments, energy planners, policymakers, international agencies, and associated bodies toconsider decisions regarding renewable energy transitions. Investments into renewable energyinfrastructure not only enhances the sustainability levels of planet earth but conjointlystimulates economic growth across the globe.
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The Nuclear Dilemma : A Study on the Nuclear Energy Growth Nexus and Greenhouse Gas EmissionsKarlsson, Pontus, Uebel, Felicia January 2023 (has links)
The relationship between energy consumption and economic growth has been a popular topic in recent studies, with a considerable amount of literature conducted, although there still is no consensus regarding the relationship. Few studies have analysed the nuclear energy growth nexus with greenhouse gas emissions, and none have used the same method, data, and sample period. Therefore, there are still gaps in the literature regarding the Energy Growth Nexus, and this study provides a unique insight into the Swedish nuclear dilemma. The purpose of this paper is to study the causal relationship between economic growth and nuclear energy consumption, and the causality between greenhouse gas emissions and nuclear energy consumption, in Sweden. The results of which are used to discuss the future consequences a continued shutdown of Sweden’s nuclear power could have. Seven EU nations and two non-EU nations are included to be able to make comparisons to Sweden. This paper is based on a method of time series analysis by conducting Ordinary Least Squares-regressions in combination with Granger causality tests. Our results indicate that nuclear power granger cause growth in Belgium and the United Kingdom. Additionally, this study finds a bidirectional granger causality between greenhouse gas emissions and nuclear energy in the USA. The causal relationship between nuclear energy, economic growth, and greenhouse gas emissions in Sweden is still unclear. However, the Swedish energy market is facing multiple challenges including global warming, increased energy demand, and a transition towards a completely renewable energy mix. The role of nuclear power in the Swedish energy mix is still unclear. It is therefore the authors belief that a decision regarding the future of the Swedish energy supply is needed. / Förhållandet mellan energikonsumtion och ekonomisk tillväxt har varit ett populärt ämne i nutida forskning, detta då en avsevärd mängd litteratur har författats på ämnet, dock har forskningen ännu inte funnit konsensus gällande det påstådda förhållandet. Få studier har emellertid analyserat energi-tillväxt sambandet med växthusgaser, inga av dessa studier har använt samma metod, data och tidsperiod. Med grund i detta finns det ändock ett tomrum i forskningen och litteraturen gällande energi-tillväxt sambandet och denna studie tillhandahåller en särskild insikt i det svenska kärnkraftsdilemmat. Syftet med denna uppsats har varit att studera det kausala förhållandet mellan ekonomisk tillväxt och kärnkraftskonsumtion, samt kausaliteten mellan utsläpp från växthusgaser och ekonomisk tillväxt, i Sverige. Resultaten av denna uppsats har använts för att diskutera och analysera framtida konsekvenser av en fortsatt kärnkraftsnedstängning i Sverige. Sju EU-nationer samt två länder utanför EU har inkluderats för att kunna genomföra jämförelser med Sverige. Denna uppsats är baserad på en metod av tidsserieanalys som regression kallad Minsta Kvadratregressioner i kombination med Granger kausalitets-tester. Uppsatsens resultat indikerar att kärnkraft Granger-kauserar tillväxt i Belgien och Storbritannien. Studien finner även en dubbelriktad Granger-kausalitet mellan växthusgasutsläpp och kärnkraft i USA. Det kausala sambandet mellan kärnkraft, ekonomisk tillväxt och växthusgasutsläpp i Sverige är fortsatt otydligt. Den svenska energimarknaden står emellertid inför flera utmaningar som främst inkluderar global uppvärmning, ökande efterfrågan på energi samt en pågående övergång till en helt förnybar energimix. Rollen kärnkraft kommer ha i den svenska energimixen är fortfarande oklar. Det är därför författarnas uppfattning att ett beslut angående hur det framtida energiutbudet ska se ut måste tas.
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