doctoral thesis
Macroeconomic impacts of electricity production and consumption on economic growth of Croatian economy

Pavle Jakovac (2014)
University of Rijeka
Faculty of Economics
Metadata
TitleMakroekonomski učinci proizvodnje i potrošnje električne energije na ekonomski rast hrvatskog gospodarstva
AuthorPavle Jakovac
Mentor(s)Nela Vlahinić Lenz
Abstract
U teorijskom dijelu ovog doktorskog rada determinirana je uloga i važnost energije, samim time i električne energije, u ekonomskom rastu. Naime, prema neoklasičnoj ekonomskoj teoriji energija se ne smatra primarnim inputom već intermedijarnim dobrom dok pripadnici tzv. ekološke ekonomije tvrde upravo suprotno. U suvremenom svijetu, učinkovita opskrba energijom, prvenstveno električnom energijom kao njezinim najfleksibilnijim, najkomercijalnijim i najčišćim oblikom predstavlja značajan temelj ekonomskog rasta i razvoja. Teorijska i praktična korelacijska veza izmeñu električne energije i ekonomskog rasta ne implicira ujedno i kauzalnu vezu. Ovo tematsko područje predmet je empirijskih istraživanja posljednja dva desetljeća iako bez konsenzusa o tome da li ekonomski rast rezultira potrošnjom i proizvodnjom električne energije ili je pak električna energija stimulans ekonomskog rasta. U kontekstu prilagodbe elektroenergetskog sektora Republike Hrvatske jedinstvenom europskom tržištu električne energije poznavanje smjera i intenziteta kauzalne veze predstavlja važnu podlogu za oblikovanje i provedbu adekvatne ekonomske i energetske politike. U empirijskom dijelu doktorskog rada provedeno je istraživanje meñupovezanosti tj. kauzalnosti izmeñu potrošnje i proizvodnje električne energije s jedne te ekonomskog rasta u Republici Hrvatskoj sa druge strane. Cilj istraživanja bio je utvrditi smjer i intenzitet kauzalne veze, na agregatnoj i sektorskoj razini, izmeñu varijabli električne energije i BDP-a unutar multivarijatnog okvira. Korištenjem konvencionalne multifaktorske neoklasične funkcije agregatne proizvodnje formirana su tri modela i primjenom odgovarajuće kvantitativne metode (ARDL pristup) provedena je ekonometrijska analiza. U ovom doktorskom radu dokazano je da postoji značajan pozitivan utjecaj proizvodnje i potrošnje (pogotovo nerezidencijalne) električne energije na ekonomski rast hrvatskog gospodarstva. Na temelju rezultata istraživanja formirani su i znanstveno utemeljeni prijedlozi mjera za razvoj elektroenergetskog sektora u funkciji ekonomskog rasta hrvatskog gospodarstva kao i preporuke za buduća istraživanja spomenute tematike.
Keywordseconomic growth electricity production and consumption causality ARDL approach the Republic of Croatia
Parallel title (English)Macroeconomic impacts of electricity production and consumption on economic growth of Croatian economy
Committee MembersDragomir Sundać (committee chairperson)
Nela Vlahinić Lenz (committee member)
Đula Borozan (committee member)
GranterUniversity of Rijeka
Faculty of Economics
PlaceRijeka
StateCroatia
Scientific field, discipline, subdisciplineSOCIAL SCIENCES
Economics
Macroeconomics
UDK330
SOCIAL SCIENCES
Economics. Economic science
620
APPLIED SCIENCES. MEDICINE. TECHNOLOGY
Materials testing. Power stations. Economics of energy
Study programme typeuniversity
Study levelpostgraduate
Study programmeEconomics and Business Economics
Academic title abbreviationdr.sc.
Genredoctoral thesis
Language Croatian
Defense date2014-09-15
Parallel abstract (English)
The theoretical part of this doctoral thesis determined the role and importance of energy in economic growth. According to the neoclassical economic theory, energy is not considered as a primary input. Instead it is looked upon as an intermediate good while members of the socalled ecological economics claim just the opposite. In the modern world, efficient energy supply, particularly electricity as its most flexible, commercial and cleanest form represents an important basis for economic growth and development. Theoretical and practical correlation between electricity and economic growth does not imply that there exists a causal relationship at the same time. This thematic area has been the subject of empirical research for the last two decades, although with no consensus on whether economic growth causes electricity consumption and production or whether electricity acts as a stimulus of economic growth. In the context of adjusting the Croatian electricity sector to the EU’s internal electricity market knowing the direction and intensity of causal relationship represents an important foundation for design and implementation of the appropriate economic and energy policy. The empirical part of the doctoral dissertation presents the research regarding interconnectedness (i.e. causality) between electricity consumption/production and economic growth in the Republic of Croatia. The aim of this research was to determine the direction and intensity of the causal relationship, on aggregate and sectoral level, between the electricity variables and GDP within a multivariate framework. The econometric analysis was conducted on previously formed three different models using the conventional multifactor neoclassical aggregate production function and an appropriate quantitative method (ARDL approach). In this doctoral dissertation it has been proven that there is a significant positive impact of electricity production and consumption (especially by the non-residential sector) on economic growth of the Croatian economy. The research results made it possible to formulate scientifically based proposals and measures for the development of Croatian electricity sector, as well as recommendations for future research.
Parallel keywords (Croatian)ekonomski rast proizvodnja i potrošnja električne energije kauzalnost ARDL pristup Republika Hrvatska
Versionaccepted version
Resource typetext
Access conditionOpen access
Terms of usehttp://rightsstatements.org/vocab/InC/1.0/
Noteaccepted version
URN:NBNhttps://urn.nsk.hr/urn:nbn:hr:192:478079
CommitterVesna Knez