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Article

Assessment of Green Investments’ Impact on Sustainable Development: Linking Gross Domestic Product Per Capita, Greenhouse Gas Emissions and Renewable Energy

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Economic Cybernetics Department, Sumy State University, 40007 Sumy, Ukraine
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Marketing Department, Sumy State University, 40007 Sumy, Ukraine
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Faculty of Management, University of Social Science, 37-400 Lodz, Poland
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Vilnius University, Kaunas Faculty, Mutines 8, LT-44280 Kaunas, Lithuania
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College of Management, Department of Economics and Finance, University of Information Technology and Management in Rzeszow, 35-225 Rzeszow, Poland
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Author to whom correspondence should be addressed.
Energies 2019, 12(20), 3891; https://doi.org/10.3390/en12203891
Received: 27 August 2019 / Revised: 1 October 2019 / Accepted: 11 October 2019 / Published: 15 October 2019
(This article belongs to the Special Issue Innovation in Energy Security and Long-Term Energy Efficiency)
The paper analyses the linkages between GDP per capita, greenhouse gas (GHG) emissions, and renewable energy (RE) in the total final energy consumption and green investments (PICE) which are measured as private investments, jobs, and gross value added related to circular economy sectors. The object of the analysis is the EU countries during the 2008-2016 period (crisis and post-crisis period). In the paper, data from the following databases was used: the Eurostat, the World Data Bank, and the European Environmental Agency. For addressing the linkages between the aforementioned indicators, the following methods were applied: panel unit root test, Pedroni panel cointegration tests, and the fully modified ordinary least squares (FMOLS) and dynamic ordinary least squares (DOLS) panel cointegration techniques. The findings show that FMOLS and DOLS demonstrate the same results as GHG, PICE, RE influence on GDP of the EU countries. The findings prove there is linking between gross domestic product per capita, greenhouse gas emissions, renewable energy in the total final energy consumption and green investments. The findings also show that green investment (PICE) could provoke the growth of GDP per capita by 6.4%, the decline of GHG by 3.08%, and the increase of renewable energy in the total final energy consumption by 5.6%. View Full-Text
Keywords: sustainable development; renewable energy; greenhouse gas emissions; green investments sustainable development; renewable energy; greenhouse gas emissions; green investments
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MDPI and ACS Style

Lyeonov, S.; Pimonenko, T.; Bilan, Y.; Štreimikienė, D.; Mentel, G. Assessment of Green Investments’ Impact on Sustainable Development: Linking Gross Domestic Product Per Capita, Greenhouse Gas Emissions and Renewable Energy. Energies 2019, 12, 3891. https://doi.org/10.3390/en12203891

AMA Style

Lyeonov S, Pimonenko T, Bilan Y, Štreimikienė D, Mentel G. Assessment of Green Investments’ Impact on Sustainable Development: Linking Gross Domestic Product Per Capita, Greenhouse Gas Emissions and Renewable Energy. Energies. 2019; 12(20):3891. https://doi.org/10.3390/en12203891

Chicago/Turabian Style

Lyeonov, Serhiy, Tetyana Pimonenko, Yuriy Bilan, Dalia Štreimikienė, and Grzegorz Mentel. 2019. "Assessment of Green Investments’ Impact on Sustainable Development: Linking Gross Domestic Product Per Capita, Greenhouse Gas Emissions and Renewable Energy" Energies 12, no. 20: 3891. https://doi.org/10.3390/en12203891

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