The impact of biodiesel consumption by transport on economic growth in the European Union

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F19%3A63523277" target="_blank" >RIV/70883521:28120/19:63523277 - isvavai.cz</a>

Result on the web

<a href="http://inzeko.ktu.lt/index.php/EE/article/view/21831" target="_blank" >http://inzeko.ktu.lt/index.php/EE/article/view/21831</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.5755/j01.ee.30.1.21831" target="_blank" >10.5755/j01.ee.30.1.21831</a>

Result language

angličtina

Original language name

The impact of biodiesel consumption by transport on economic growth in the European Union

Original language description

The actual EU strategies of sustainable development have determined a very fast increase in biodiesel consumption within the EU, especially since 2005. In line with these developments, the main aim of this paper is to evaluate the impact from biodiesel consumption by transport on economic growth of the EU. The identification of some groups of countries according to economic growth and biodiesel consumption in transport (cluster analysis) was performed. The relationship between economic growth and energy based on biodiesel consumption (panel data models and Granger causality on panel data) was assessed. In this context, using the available data, we assessed the effects of biodiesel consumption by transport on economic growth in the EU over the period 2010-2016. The results based on the panel data approach indicate a positive, but very low impact of energy obtained from biodiesel consumption by transport on the EU &apos;s economic growth. An increase in energy based on biodiesel by one thousand tons of oil equivalent generated, on average, an increase of 0.0019 percentage points in the real GDP rate in the EU during the period of 2010-2016. There is only a unidirectional Granger causality relationship between these two variables: the biodiesel consumption Granger caused the EU economic growth from 2010 to 2016. Policy recommendations should focus on the extension of biodiesel consumption for transport within the EU by establishing a higher minim percentage of biodiesel in transport.

Czech name

—

Czech description

—

Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

—

OECD FORD branch

50204 - Business and management

Project

—

Continuities

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Publication year

2019

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Inzinerine Ekonomika-Engineering Economics

ISSN

1392-2785

e-ISSN

—

Volume of the periodical

30

Issue of the periodical within the volume

1

Country of publishing house

LT - LITHUANIA

Number of pages

9

Pages from-to

50-58

UT code for WoS article

000459552900006

EID of the result in the Scopus database

—