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Advisor(s)
Abstract(s)
The interactions between electricity sources and industrial production in Estonia and Sweden are
analysed based on monthly data. The availability of data defines the time spans from January
2010 to September 2015 for Sweden and from April 2010 to December 2014 for Estonia. These
countries are particularly interesting to study because of their dissimilar generation mix. Estonia’s
generation mix is based on oil shale, while Sweden’s is based on nuclear plants and hydroelectricity.
In short, both countries’ energy mixes are based on endogenous natural resources. The
ARDL model was applied, allowing the long-run and short-run effects to be captured. The results
prove that economic growth is sustained by natural endogenous resources. Estonia should
continue to improve the usage of renewable energies, using fossil sources in support, in order
to reduce emissions and to meet international environmental commitments. Sweden should
promote the efficient usage of various renewable sources.
Description
Keywords
Energy-growth nexus ARDL bounds test Nord Pool Estonia Sweden