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Link between Energy Efficiency and Sustainable Economic and Financial Development in OECD Countries

1
Faculty of Economics, Finance and Management, University of Szczecin, 71-101 Szczecin, Poland
2
Faculty of Organizational Sciences, University of Belgrade, 11040 Belgrade, Serbia
*
Author to whom correspondence should be addressed.
Energies 2020, 13(22), 5898; https://doi.org/10.3390/en13225898
Received: 12 October 2020 / Revised: 29 October 2020 / Accepted: 10 November 2020 / Published: 12 November 2020
The growing risk of climate change caused by the emission of greenhouse gases poses new challenges to contemporary countries. The development of economies is usually related to increasing levels of greenhouse gas emissions. Therefore, the question arises whether it is possible to achieve sustainable economic and financial development and simultaneously reduce greenhouse gas emissions. This paper assumes it is possible if energy efficiency is increased. The aim of the paper is to show the link between energy efficiency and sustainable economic and financial development in Organisation for Economic Co-operation and Development (OECD) countries for the period 2000–2018 by using data envelopment analysis (DEA) and regression analysis. The results show a slight upward trend of total factor energy efficiency (TFEE) in OECD countries for the analysed period; however, there is a difference in TFEE levels. Developed OECD countries have higher TFEE levels than developing OECD countries. The links between total factor energy efficiency and sustainable economic and financial development reveal different impacts depending on the variables taken into consideration. View Full-Text
Keywords: energy efficiency; sustainable economic development; sustainable financial development; DEA; regression energy efficiency; sustainable economic development; sustainable financial development; DEA; regression
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MDPI and ACS Style

Ziolo, M.; Jednak, S.; Savić, G.; Kragulj, D. Link between Energy Efficiency and Sustainable Economic and Financial Development in OECD Countries. Energies 2020, 13, 5898. https://doi.org/10.3390/en13225898

AMA Style

Ziolo M, Jednak S, Savić G, Kragulj D. Link between Energy Efficiency and Sustainable Economic and Financial Development in OECD Countries. Energies. 2020; 13(22):5898. https://doi.org/10.3390/en13225898

Chicago/Turabian Style

Ziolo, Magdalena, Sandra Jednak, Gordana Savić, and Dragana Kragulj. 2020. "Link between Energy Efficiency and Sustainable Economic and Financial Development in OECD Countries" Energies 13, no. 22: 5898. https://doi.org/10.3390/en13225898

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