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Investigating the Energy–Economic Growth–Governance Nexus: Evidence from Central and Eastern European Countries

1
Department of Finance, Money and Public Administration, Alexandru Ioan Cuza University of Iasi, 700506 Iasi, Romania
2
Faculty of Biotechnical Systems Engineering, Polytechnic University, 060042 Bucharest, Romania
*
Author to whom correspondence should be addressed.
Sustainability 2019, 11(12), 3355; https://doi.org/10.3390/su11123355
Received: 24 May 2019 / Revised: 11 June 2019 / Accepted: 13 June 2019 / Published: 17 June 2019
(This article belongs to the Special Issue Resilient Infrastructure Systems and Sustainable Economic Growth)
Achieving the goals of sustainable development and poverty reduction implies an important condition for access to electricity for the entire population. In the economic literature, the relationship between electricity consumption and economic growth has different perspectives. The lack of good governance within an economy, besides the deficiencies of energy resources, is a key issue in worsening energy issues for developing countries. These countries have failed to alleviate the energy crises that have hindered development prospects, amid flourishing corruption and inefficient governments. Our research, using a panel methodology, analyzes the long-term relationship between energy consumption, economic growth and good governance for 14 Central and Eastern European countries, over the period 1995–2017. The study demonstrates empirically that there is a causal relationship between electricity consumption and economic growth, underlining the fact that deficiencies in the energy system lead to slowing economic growth. The study also shows that good governance influences electricity and Gross Domestic Product (GDP) consumption, and the governments from Central and Eastern European countries have to restore good governance in the economy, creating an environment conducive to investment in the energy sector, which would increase competition and reduce inefficiencies in the production, transmission, and distribution of energy. View Full-Text
Keywords: sustainable development; economic growth; governance; energy; Central and Eastern European countries sustainable development; economic growth; governance; energy; Central and Eastern European countries
MDPI and ACS Style

Bercu, A.-M.; Paraschiv, G.; Lupu, D. Investigating the Energy–Economic Growth–Governance Nexus: Evidence from Central and Eastern European Countries. Sustainability 2019, 11, 3355.

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