title: The impact and determinants of the energy paradigm on economic growth in European Union.
abstract: Contemporary economies are strongly reliant on energy and analyzing the determining factors that trigger the changes in energy paradigm and their impact upon economic growth is a topical research subject. Our contention is that energy paradigm plays a major role in achieving the sustainable development of contemporary economies. In order to prove this the panel data methodology of research was employed, namely four panel unit root tests (LLC, IPS, F-ADF and F-PP) aiming to reveal the connections and relevance among 17 variables denoting energy influence on economic development. Moreover, it was introduced a specific indicator to express energy consumption per capita. Our findings extend the classical approach of the changes in energy paradigm and their impact upon economic growth and offer a comprehensive analysis which surpasses the practices and policy decisions in the field.
authors.affiliation: Business Administration Department, Petroleum-Gas University of Ploiesti, Ploiesti, Prahova, Romania.
authors.forename: Jean Vasile
authors.identifier: http://orcid.org/0000-0002-8332-6537
authors.initials: JV
authors.lastname: Andrei
authors.affiliation: Accounting, Banking & Finance Department, Valahia University of Targoviste, Targoviste, Dambovita, Romania.
authors.forename: Mihai
authors.initials: M
authors.lastname: Mieila
authors.affiliation: Cybernetics, Economic Informatics, Finance and Accounting Department, Petroleum-Gas University of Ploiesti, Ploiesti, Prahova, Romania.
authors.forename: Mirela
authors.initials: M
authors.lastname: Panait
mesh_terms: D004467:Economics; D005062:European Union