Energy Security and Sustainable Development of the Energy Sector: Comparative Analysis of the Visegrad Group Countries
Energy Security and Sustainable Development of the Energy Sector: Comparative Analysis of the Visegrad Group Countries

Summary/Abstract: A sustainable energy sector is crucial for a country’s stable and environmentally friendly socioeconomic development. Economic security (ES), the basis for the functioning of the state, is one of the major factors affecting the development. The objective of this article is to examine how ES influenced the sustainable development of the energy sector in the Visegrad Group countries, i.e., Poland, Slovakia, Hungary, and Czechia, over the period spanning from 2008 to 2020. To evaluate a meaningful relationship between the indicators (p < 0.05), we used correlation coefficients, the ordinary least squares method, and the seemingly unrelated regression model. The findings indicate that ES impacts the sustainable development of the energy sector, where positive results can be achieved by implementing coordinated macroeconomic policies. Green energy sources and renewable energy are crucial in this process.

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