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Do renewable energy consumption and green trade openness matter for human well-being? Empirical evidence from European Union countries

Abstract

Human well-being is an important indicator that indicates the welfare level of society. In recent literature, scholars have attempted to detect the determinants of human well-being. However, the impact of green trade openness on human well-being has not been investigated. Also, there are limited studies on renewable energy and the human well-being nexus. Hence, this study aims to investigate the impact of green trade openness and renewable energy consumption on human well-being for 25 European Union (EU) member states over the period from 2003 to 2016. The empirical findings demonstrated that green trade openness increases human well-being in all quantiles (0.1–0.90), while renewable energy consumption shows a significant and positive effect on human well-being across quantiles (0.1–0.90) in EU nations. These conclusions were found robust in all estimation techniques. Lastly, policy suggestions are directed to raise the level of human well-being.

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Correspondence to Muhlis Can.

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Appendices

Appendix A: Descriptive statistics

Appendix A: Descriptive statistics   
Variables Observations Mean Std. Dev. Minimum Maximum Jarque-Bera Prob.
SW 350 0.857 0.044 0.732 0.936 11.905 0.002
GOP 350 6.554 3.629 1.275 21.332 4.441 0.109
RE 350 4.456 5.186 0.002 27.763 887.034 0.000
CO2 350 7.264 2.501 3.222 14.668 10.693 0.005

Appendix B: Pairwise correlation matrix

Variables SW GOP RE CO2
SW 1.000    
GOP -0.031*
[-0.572]
(0.000)
1.000   
RE 0.387*
[7.837]
(0.000)
0.001
[0.0231]
(0.9816)
1.000  
CO2 0.429*
[8.853]
(0.000)
0.125*
[2.344]
(0.019)
-0.130*
[-2.446]
(0.000)
1.000

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Can, B., Ahmed, Z., Ahmad, M. et al. Do renewable energy consumption and green trade openness matter for human well-being? Empirical evidence from European Union countries. Soc Indic Res (2022). https://doi.org/10.1007/s11205-022-02981-y

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  • DOI: https://doi.org/10.1007/s11205-022-02981-y

Keywords

  • Human Well-being
  • Human Development
  • Green Trade openness, renewable energy consumption
  • CO2 emissions