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Does the renewable share of total primary energy supply affect the prospect of economic growth? A study of the OECD economies

Petersson, Oliver LU and Hedengren, Agnes LU (2019) NEKH04 20191
Department of Economics
Abstract
This paper navigates the subject of economic growth and energy use, with a focus on environmental sustainability. The aim is to investigate the relationship between the renewable share of total primary energy supply and the GDP per capita growth rate by conducting an empirical study on the OECD member states. The growth rate of GDP has for a long time been used as a measure of economic growth and overall societal development. However, the topic of quality with regards to growth is more and more frequently brought up as climate change and other environmental issues get more severe. In line with earlier research and economic theory presented in the paper, we conducted an empirical study aiming to see the degree of correlation between... (More)
This paper navigates the subject of economic growth and energy use, with a focus on environmental sustainability. The aim is to investigate the relationship between the renewable share of total primary energy supply and the GDP per capita growth rate by conducting an empirical study on the OECD member states. The growth rate of GDP has for a long time been used as a measure of economic growth and overall societal development. However, the topic of quality with regards to growth is more and more frequently brought up as climate change and other environmental issues get more severe. In line with earlier research and economic theory presented in the paper, we conducted an empirical study aiming to see the degree of correlation between economic growth and a higher share of renewable energy supply. The conclusion of this paper is that there is a positive bi-directional relationship between a higher share of renewable primary energy supply and the growth rate of GDP per capita, at least within the OECD. The discussion brings up the economic benefits of developed countries actively diffusing sustainably fueled technology to countries which are still at the beginning of their development trajectory. Based on earlier research, it is the countries that are in between being non-developed and fully developed that lie behind the majority of greenhouse gas emissions. Giving non-developed countries access to efficient, sustainable, technology would thus not only reduce future emissions significantly but also help them establish their economies quicker. (Less)
Please use this url to cite or link to this publication:
author
Petersson, Oliver LU and Hedengren, Agnes LU
supervisor
organization
course
NEKH04 20191
year
type
M2 - Bachelor Degree
subject
keywords
Economic growth, Renewable energy, Energy policy, Kuznet curve, Technology diffusion
language
English
id
8982430
date added to LUP
2019-08-08 10:33:51
date last changed
2019-08-08 10:33:51
@misc{8982430,
  abstract     = {{This paper navigates the subject of economic growth and energy use, with a focus on environmental sustainability. The aim is to investigate the relationship between the renewable share of total primary energy supply and the GDP per capita growth rate by conducting an empirical study on the OECD member states. The growth rate of GDP has for a long time been used as a measure of economic growth and overall societal development. However, the topic of quality with regards to growth is more and more frequently brought up as climate change and other environmental issues get more severe. In line with earlier research and economic theory presented in the paper, we conducted an empirical study aiming to see the degree of correlation between economic growth and a higher share of renewable energy supply. The conclusion of this paper is that there is a positive bi-directional relationship between a higher share of renewable primary energy supply and the growth rate of GDP per capita, at least within the OECD. The discussion brings up the economic benefits of developed countries actively diffusing sustainably fueled technology to countries which are still at the beginning of their development trajectory. Based on earlier research, it is the countries that are in between being non-developed and fully developed that lie behind the majority of greenhouse gas emissions. Giving non-developed countries access to efficient, sustainable, technology would thus not only reduce future emissions significantly but also help them establish their economies quicker.}},
  author       = {{Petersson, Oliver and Hedengren, Agnes}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Does the renewable share of total primary energy supply affect the prospect of economic growth? A study of the OECD economies}},
  year         = {{2019}},
}