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

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dc.title The impact of biodiesel consumption by transport on economic growth in the European Union en
dc.contributor.author Simionescu, Mihaela
dc.contributor.author Bilan, Yuriy
dc.contributor.author Streimikiene, Dalia
dc.relation.ispartof Inzinerine Ekonomika-Engineering Economics
dc.identifier.issn 1392-2785 Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2019
utb.relation.volume 30
utb.relation.issue 1
dc.citation.spage 50
dc.citation.epage 58
dc.type article
dc.language.iso en
dc.publisher Kaunas University of Technology
dc.identifier.doi 10.5755/j01.ee.30.1.21831
dc.subject Biodiesel Consumption en
dc.subject Economic Growth en
dc.subject Transport en
dc.subject Panel Data en
dc.subject Granger Causality en
dc.description.abstract 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 '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. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1008548
utb.identifier.scopus 2-s2.0-85064670179
utb.identifier.wok 000459552900006
utb.source j-wok
dc.date.accessioned 2019-07-08T11:59:54Z
dc.date.available 2019-07-08T11:59:54Z
utb.contributor.internalauthor Bilan, Yuriy
utb.wos.affiliation [Simionescu, Mihaela] Romanian Acad, Inst Econ Forecasting, Calea 13 Septembrie 13,Sect 5, Bucharest 050711, Romania; [Bilan, Yuriy] Tomas Bata Univ Zlin, Mostni 5139, Zlin 76001, Czech Republic; [Streimikiene, Dalia] Lithuanian Inst Agrarian Econ, V Kudirkos St 18-2, LT-03105 Vilnius, Lithuania
utb.scopus.affiliation Institute for Economic Forecasting of the Romanian Academy, Casa Academiei, Calea 13 Septembrie nr.13, sector 5, Bucharest, 050711, Romania; Tomas Bata University in Zlin, Mostni 5139, Zlín, 76001, Czech Republic; Lithuanian Institute of Agrarian Economics, V. Kudirkos st. 18-2, Vilnius, 03105, Lithuania
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