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  • Our paper tackles the issue of the European energy security and economic growth. Specifically, it evaluates the relationship between natural gas consumption and economic growth in the European Union (EU). Channels along which natural gas is supplied to the EU energy markets yield dependence from the Russian Federation which presents a threat to the European energy security Our sample includes panel time series data over the period from 1997 to 2011 for a 26 EU countries. Based on neoclassical growth model, we create a multivariate model including gross fixed capital formation and total labor forces of a country as additional explanatory variables. Using panel cointegration tests, we found that there exists a long-run relationship between economic growth, natural gas consumption, labor and capital. In the short-run there is bidirectional causality between natural gas consumption and economic growth. The causality running from economic growth to natural gas consumption is positive. On the other hand, the causality, which runs from natural gas consumption to economic growth, is negative.
  • Our paper tackles the issue of the European energy security and economic growth. Specifically, it evaluates the relationship between natural gas consumption and economic growth in the European Union (EU). Channels along which natural gas is supplied to the EU energy markets yield dependence from the Russian Federation which presents a threat to the European energy security Our sample includes panel time series data over the period from 1997 to 2011 for a 26 EU countries. Based on neoclassical growth model, we create a multivariate model including gross fixed capital formation and total labor forces of a country as additional explanatory variables. Using panel cointegration tests, we found that there exists a long-run relationship between economic growth, natural gas consumption, labor and capital. In the short-run there is bidirectional causality between natural gas consumption and economic growth. The causality running from economic growth to natural gas consumption is positive. On the other hand, the causality, which runs from natural gas consumption to economic growth, is negative. (en)
Title
  • Energy security and economic growth in the European Union
  • Energy security and economic growth in the European Union (en)
skos:prefLabel
  • Energy security and economic growth in the European Union
  • Energy security and economic growth in the European Union (en)
skos:notation
  • RIV/00216208:11230/14:10283073!RIV15-MSM-11230___
http://linked.open...avai/riv/aktivita
http://linked.open...avai/riv/aktivity
  • I
http://linked.open...iv/cisloPeriodika
  • 2
http://linked.open...vai/riv/dodaniDat
http://linked.open...aciTvurceVysledku
http://linked.open.../riv/druhVysledku
http://linked.open...iv/duvernostUdaju
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http://linked.open...dnocenehoVysledku
  • 14620
http://linked.open...ai/riv/idVysledku
  • RIV/00216208:11230/14:10283073
http://linked.open...riv/jazykVysledku
http://linked.open.../riv/klicovaSlova
  • Russian Federation; nultivariate model; panel data; European Union; economic growth; energy security; natural gas consumption (en)
http://linked.open.../riv/klicoveSlovo
http://linked.open...odStatuVydavatele
  • LT - Litevská republika
http://linked.open...ontrolniKodProRIV
  • [B5F18FB5CA1E]
http://linked.open...i/riv/nazevZdroje
  • Journal of Security and Sustainability Issues
http://linked.open...in/vavai/riv/obor
http://linked.open...ichTvurcuVysledku
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http://linked.open...UplatneniVysledku
http://linked.open...v/svazekPeriodika
  • 4
http://linked.open...iv/tvurceVysledku
  • Strielkowski, Wadim
  • Balitskiy, Sergey
  • Bilan, Yurij
issn
  • 2029-7025
number of pages
http://bibframe.org/vocab/doi
  • 10.9770/jssi.2014.4.2(2)
http://localhost/t...ganizacniJednotka
  • 11230
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