Connecting Blue Economy and Economic Growth to Climate Change: Evidence from European Union Countries

Blue Economy represents a new and interesting concept on global level, both from the economic potential but also by fact that it can be used to reduce environmental degradation. The main goal of this research is identify causality relations between greenhouse gas emissions, growth based panel annual data 28 countries are members European Union (EU) over 2009–2018 period. After applying stationarity cointegration tests, long term coefficients shall determined with help fully modified ordinary least squares (FMOLS) estimator. Granger estimation vector error correction model (VECM) was applied relationship variables detect direction causality. Based identified relations, has significant influence emissions in run. Unidirectional were term, as well short term.