Econometric analysis of energy dependency in the EU, Bulgaria, and Romania
Econometric analysis of energy dependency in the EU, Bulgaria, and Romania

Author(s): George-Cornel Dumitrescu
Subject(s): Economy, National Economy, Supranational / Global Economy, Energy and Environmental Studies, Green Transformation
Published by: Нов български университет
Keywords: energy; imports; dependency; environment
Summary/Abstract: This comprehensive study explores the relationship between renewable energy share (RES), national expenditure on environmental protection (NEEP), and energy import dependency (EID) in the EU27, Bulgaria, and Romania. Using quantitative analysis of Eurostat data, the research establishes a significant inverse correlation between RES and EID in Bulgaria and Romania. On the other hand, the relationship between RES and EID in the EU27 was found statistically insignificant. Furthermore, the correlation between NEEP and EID varied among regions, with a significant positive linear relationship in the EU27 but not in Bulgaria and Romania. The findings highlight the diverse influences of renewable energy and environmental expenditures on energy import dependence.

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