Spatiotemporal influencing factors of energy efficiency in 43 european countries: A spatial econometric analysis

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dc.authoridBekun, Festus Victor/0000-0003-4948-6905
dc.contributor.authorQuito, Byron
dc.contributor.authordel Rio-Rama, Maria de la Cruz
dc.contributor.authorAlvarez-Garcia, Jose
dc.contributor.authorBekun, Festus Victor
dc.date.accessioned2024-09-11T19:51:21Z
dc.date.available2024-09-11T19:51:21Z
dc.date.issued2023
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractThe increase in consumption and the increase in the use of resources linked to increasing human activity puts both energy security and sustainability at risk, which has led to a global restructuring of the policy agenda to ensure and integrate environmental well-being through channels such as energy efficiency (EE). Bearing this in mind, the objective of this research is to analyze the relationship between energy efficiency, renewable energy and financial development? For this reason, an analysis is conducted, which includes energy intensity measured by the Gross Domestic Product (GDP) per unit of energy use as a measure of efficiency for 43 European countries (period 1990-2019). The objective is to observewhether the use of renewable energy and the investments being made are driving economies towards higher EE and sustainable economic growth. The present study leverages on spatial econometrics models, which allow for the analysis of spillovers between economies. The results obtained allow us to observe the existence of spatial autocorrelation of EE between countries in Europe. Secondly, it is observed that the use of renewable energies promotes EE in neighbouring economies, as well as in the return effect. On the other hand, financial development shows that only the institutional component favours EE by generating a return effect on the economy itself, while the stock market component deteriorates the EE of neighbouring economies and on the same economy. Therefore, the analyzed data shows that the use of renewable energies promotes the improvement of EE and that being close to countries that replace the use of traditional energies with alternative sources has a positive effect on national EE. These mechanisms would allow policy makers to develop mechanisms for greener and more sustainable development, while encouraging efficient energy use.en_US
dc.description.sponsorshipConsejeria de Economia, Ciencia y Agenda Digital de la Junta de Extremadura; Euro- pean Regional Development Fund of the European Union [GR21161]en_US
dc.description.sponsorshipFunding This publication has been funded by the Consejeria de Economia, Ciencia y Agenda Digital de la Junta de Extremadura and by the Euro- pean Regional Development Fund of the European Union through the reference grant GR21161.en_US
dc.identifier.doi10.1016/j.rser.2023.113340
dc.identifier.issn1364-0321
dc.identifier.issn1879-0690
dc.identifier.scopus2-s2.0-85160521637en_US
dc.identifier.urihttps://doi.org/10.1016/j.rser.2023.113340
dc.identifier.urihttps://hdl.handle.net/11363/7763
dc.identifier.volume182en_US
dc.identifier.wosWOS:001008717100001en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherPergamon-Elsevier Science Ltden_US
dc.relation.ispartofRenewable & Sustainable Energy Reviewsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectEnergy efficiencyen_US
dc.subjectSpatial modelsen_US
dc.subjectSpilloversen_US
dc.subjectEuropeen_US
dc.subjectRenewable energyen_US
dc.titleSpatiotemporal influencing factors of energy efficiency in 43 european countries: A spatial econometric analysisen_US
dc.typeArticleen_US

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