The researchers calculated that the EU’s gross domestic product (GDP) would increase by a total of 18.4 billion euros or 0.13 percent. Austria’s economy would grow by 0.14 percent. Countries in Central and Eastern Europe, such as the Czech Republic and Slovakia, which already produce a lot of cars, would benefit the most. Germany’s economy would also benefit above average, by 0.2 percent.
“Although our estimates could be considered as a kind of upper bound on the impact of shifting these technologies, they may be a lower bound on the potential impact of green technologies on economic prosperity and employment, especially as we think about the future,” explain authors Francesca Guadagno, Oliver Reiter and Robert Stehrer in the study published on Monday.
Dependent on imports
Green technologies not only help to reduce CO2 emissions and stop global warming, they are also an economic engine that leads to increasing exports, greater competitiveness and more jobs. Nevertheless, Europe is today a net importer of most green technologies and dependent on foreign imports, especially from China.
If the trend continues, the loss of competitiveness will probably hit European industry hard, say the economists. They recommend that politicians prioritize investments in green technologies and accelerate the move away from fossil fuels in the race with China and the USA.
My themes
For your bookmarked topics
new articles found.
info By clicking on the icon you add the keyword to your topics.
info
By clicking on the icon you open your “my topics” page. You have of 15 keywords saved and would have to remove keywords.
info By clicking on the icon you remove the keyword from your topics.
Add the topic to your topics.
Source: Nachrichten
