engleski

Economic Growth and Energy Consumption in Regional Countries

The relationship between gross domestic product (GDP) and total and per capita energy consumption variables of 8 South-eastern Europe countries (SEE 8) has been analyzed in this paper. Energy intensity as derived indicator of above mentioned variables usually depends on a country’s development phase. Paper emphasis energy intensity differences based on GDP calculated at constant prices and GDP at purchasing power parity exchange rates (PPP). Paper investigates relation between these two variables for regional countries as compared to EU 27 benchmark. Analyzed regional SEE 8 are Albania, Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Macedonia, Bulgaria and Rumania. Paper is related with Conference topic, Regional Economic Growth and Development. A linear relationship between GDP per capita and energy consumption per capita in SEE 8 as compared to EU 27 might be expected. Developed countries, like EU members, usually have lower growth rates of energy consumption than the growth rates of gross domestic product. Explaining part of differences in the development and energy indicators behaviour between SEE 8 and EU 27 has been paper’s major goal. The findings show economic development and energy policy implications of differences in economic growth, energy consumption and energy intensity between SEE 8 and EU 27.

GDP; growth; energy; consumption; intensity

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