journal article Feb 27, 2025

Juxtaposing the influence of nuclear energy, human development index and research & development on economic performance of the European Union countries

Abstract
AbstractNuclear energy has emerged as one of the essential sources of energy in the European Union (EU) region. It does not cause pollution to the environment, just like renewable energy (RE), though it is subject to depletion. Therefore, nuclear energy – a low‐carbon energy source – is fundamental in maintaining sustainable development through raising national income with less ecological harm. However, there are studies that have investigated the influence of nuclear energy on the economic performance and on environmental sustainability. Thus, to cover the existing gap and inform policy making this study investigates the influence of nuclear energy and research & development (necessary for technological innovations) on the economic performance of the EU countries. The data of fourteen EU nuclear energy consuming countries is used in this analysis for the period 1990 to 2015. Important determinants of economic growth – capital, RE, human capital and financial development – are specified in the model for model controlling purposes. To achieve the research aim, the Generalized Least Squares and the Panels Correlated Standard Errors that caters for the within‐panel correlations are used. The findings depict that nuclear energy, research & development, human development index and financial development are fundamental in raising the economic growth of the EU countries. However, capital growth rate and renewable energy are counterproductive. This research informs policy implication in nuclear energy use along with technological innovations and human development in order to advance sustainable economic growth.
Topics

No keywords indexed for this article. Browse by subject →

References
59
[6]
Yüksel S "Evaluation of the optimal strategies for reducing the cost of nuclear energy investments" J Financ Econ Bank (2023)
[9]
IRENA.The global landscape of renewable energy finance.2023https://www.irena.org/Events/2023
[15]
Hussen A (2000)
[17]
Deka A "The influence of effective capital, technological innovation and energy efficiency on environmental sustainability on the European region" Int J Environ Sci Technol (2024)
[31]
Kadir MO (2024)
[38]
Mankiw NG (2010)
[41]
Cobb CW "A theory of production" Am Econ Rev (1928)
[42]
Shuayb ASS (2024)
[43]
PesaranMH.General diagnostic tests for cross section dependence in panels. Available at SSRN 572504.2004. 10.2139/ssrn.572504
[45]
A simple panel unit root test in the presence of cross‐section dependence

M. Hashem Pesaran

Journal of Applied Econometrics 10.1002/jae.951
[46]
Testing slope homogeneity in large panels

M. Hashem Pesaran, Takashi Yamagata

Journal of Econometrics 10.1016/j.jeconom.2007.05.010
[49]
The Use of Ranks to Avoid the Assumption of Normality Implicit in the Analysis of Variance

Milton Friedman

Journal of the American Statistical Association 10.1080/01621459.1937.10503522

Showing 50 of 59 references

Metrics
9
Citations
59
References
Details
Published
Feb 27, 2025
Vol/Issue
44(2)
License
View
Cite This Article
Abraham Deka, Joshua Kisungu Kipulu, Sindiso Dube (2025). Juxtaposing the influence of nuclear energy, human development index and research & development on economic performance of the European Union countries. Environmental Progress & Sustainable Energy, 44(2). https://doi.org/10.1002/ep.14565