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Financial Analytics: Science and Experience
 

Evaluating the impact on sustainable development of energy consumption of economic systems

Vol. 9, Iss. 45, DECEMBER 2016

PDF  Article PDF Version

Received: 28 November 2016

Received in revised form: 2 December 2016

Accepted: 15 December 2016

Available online: 21 December 2016

Subject Heading: MONITORING OF ECONOMIC PROCESSES

JEL Classification: O12, Q01

Pages: 2-16

Lyubushin N.P. Voronezh State University, Voronezh, Russian Federation
lubushinnp@mail.ru

Babicheva N.E. Voronezh State University, Voronezh, Russian Federation
sigaeva@mail.ru

Kozinova A.T. National Research Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
antonina.kozinova@gmail.com

Konyshkov A.S. Voronezh State University, Voronezh, Russian Federation
Alexey.Konyshkov@atos.net

Importance The article studies an economic aspect of sustainable development by evaluating the efficiency of energy resource use.
Objectives The research identifies trends describing energy capacity of Gross Domestic Product, devises algorithms (models) that determine a type of sustainable development depending on the number and quality of energy consumption, and forecasts whether it would be possible to project a reduction in energy consumption of GDP.
Methods The research applies a comparison method through general and special methods of analysis, synthesis and analogy.
Results The final algorithms (model) helped to find the nexus between the efficiency of energy consumption, type of economic development, and the type of sustainable development. We also determined trends reflecting the energy production, consumption and energy output, thus forecasting whether target imperatives for reduction in energy consumption were feasible.
Conclusions and Relevance Having studied the type of sustainable development, we found out that energy consumption demonstrated both absolute sustainability and crisis in different periods. To attain target indicators for lower energy consumption, it is necessary to change energy production and consumption trends.

Keywords: resource, intensive factor, sustainable development, energy capacity

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