期刊
ENERGY ECONOMICS
卷 81, 期 -, 页码 1056-1077出版社
ELSEVIER
DOI: 10.1016/j.eneco.2019.05.022
关键词
Growth; Energy intensity; Renewables; Dynamic panel data models
类别
资金
- Ministerio de Economia y Competitividad (Spain) [ECO2016-76818]
- Grant Ministerio Economia y Competitividad (Spain) [MDM 2014-0431]
- Comunidad de Madrid, MadEco-CM [S2015/HUM-3444]
- Junta de Andalucia [SEJ-1512]
- Gobierno de Canarias [ProID2017010088]
- Operative Program FEDER 2014-2020
This paper explores how changes in energy intensity and the switch to renewables can boost economic growth. To do so, we implement a dynamic panel data approach on a sample of 134 countries over the period 1960 to 2010. We incorporate a set of control variables, related to human and physical capital, socio-economic conditions, policies and institutions, which have been widely used in the literature on economic growth. Given the current state of technology, improving energy intensity is growth enhancing at the worldwide level. Moreover, conditional to energy intensity, moving from fossil fuels to frontier renewables (wind, solar, wave or geothermic) is also positively correlated with growth. Our results are robust to the specification of the dynamic panel with respect to alternative approaches (pooled OLS, within group or system GMM), and to alternative specifications (accounting for heterogeneity across countries, a set of institutional factors, and other technical aspects). (C) 2019 Published by Elsevier B.V.
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