scholarly journals Renewable, non-renewable energy consumption, economic growth, trade openness and ecological footprint: Evidence from organisation for economic Co-operation and development countries

2020 ◽  
Vol 242 ◽  
pp. 118537 ◽  
Author(s):  
Mehmet Akif Destek ◽  
Avik Sinha
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Ecological Footprint ◽  
Trade Openness ◽  
Renewable Energy Consumption

scholarly journals The Determinants Of Renewable Energy Consumption: An Empirical Analysis For The Balkans

2016 ◽  
Vol 12 (11) ◽  
pp. 594 ◽  
Author(s):  
Basak Gul Akar
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Panel Data ◽  
Trade Openness ◽  
Dynamic Panel Data ◽  
Energy Sources ◽  
Renewable Energy Consumption ◽  
Dynamic Panel ◽  
The Balkans

As a measure of development, energy has a priority in economic literature. However, both economic and social costs caused by traditional energy sources have led to question on the importance of these resources. In addition to this, various problems such as pollution and dependence on foreign energy has brought about new researches instead of existing energy sources. Alternative and renewable energy sources, which are named as “clean energy”, are expected to take the place of the old method. However, there are many factors affecting the use of new energy sources. These factors include energy prices, energy production, energy dependence, economic growth, trade openness, and the use of carbon dioxide. Besides, development levels of countries have a significant influence on the degree of interaction between these factors. In the present study, firstly, renewable energy consumption and the determinants of this energy use were discussed in the theoretical context. Consequently, the required empirical tests were applied for Balkan countries - Albania, Bosnia-Herzegovina, Bulgaria, Croatia, Montenegro, Kosovo, Macedonia, Romania, Serbia, Slovenia, Turkey, and Greece. Dynamic panel data method was preferred for analysis. However, this panel covers a period between the years of 1998-2011. According to the results obtained through a dynamic panel data analysis, it was found that there is a negative and statistically significant relationship between economic growth and renewable energy consumption. On the other hand, trade openness and natural gas rents are determined to have a positive effect on renewable energy consumption in the Balkans.

Does renewable energy promote green economic growth in OECD countries?

2020 ◽  
Vol 11 (4) ◽  
pp. 771-798 ◽  
Author(s):  
Dilvin Taşkın ◽  
Gülin Vardar ◽  
Berna Okan
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Trade Openness ◽  
Green Economy ◽  
Renewable Energy Consumption ◽  
Content Type ◽  
Long Run ◽  
Wide Range ◽  
The Impact

Purpose The development of green economy is of academic and policy importance to governments and policymakers worldwide. In the light of the necessity of renewable energy to sustain green economic growth, this study aims to examine the relationship between renewable energy consumption and green economic growth, controlling for the impact of trade openness for Organization for Economic Co-operation and Development countries over the period 1990-2015, within a multivariate panel data framework. Design/methodology/approach To investigate the long-run relationship between variables, panel cointegration tests are performed. Panel Granger causality based on vector error correction models is adopted to understand the short- and long-run dynamics of the data. Furthermore, ordinary least square (OLS), dynamic OLS and fully modified OLS methods are used to confirm the long-run elasticity of green growth for renewable energy consumption and trade openness. Moreover, system generalized method of moment is applied to eliminate serial correlation, heteroscedasticity and endogeneity problems. The authors used the panel Granger causality test developed by Dumitrescu and Hurlin (2012) to infer the directionality of the causal relationship, allowing for both the cross-sectional dependence and heterogeneity. Findings The results suggest that renewable energy consumption and trade openness exert positive effects on green economic growth. The results of long-run estimates of green economic growth reveal that the long-run elasticity of green economic growth for trade openness is much greater than for renewable energy consumption. The estimated results of the Dumitrescu and Hurlin (2012) test reveal bidirectional causality between green economic growth and renewable energy consumption, providing support for the feedback hypothesis. Practical implications This paper provides strong evidence of the contribution of renewable energy consumption on green economy for a wide range of countries. Despite the costs of establishing renewable energy facilities, it is evident that these facilities contribute to the green growth of an economy. Governments and public authorities should promote the consumption of renewable energy and should have a support policy to promote an active renewable energy market. Furthermore, the regulators must constitute an efficient regulatory framework to favor the renewable energy consumption. Social implications Many countries focus on increasing their GDP without taking the environmental impacts of the growth process into account. This paper shows that renewable energy consumption points to the fact that countries can still increase their economic growth with minimal damage to environment. Despite the costs of adopting renewable energy technologies, there is still room for economic growth. Originality/value This paper provides evidence on the contribution of renewable energy consumption on green economic growth for a wide range of countries. The paper focuses on the impact of renewable energy on economic growth by taking environmental degradation into consideration on a wide scale of countries.

scholarly journals Empirical Research on the Relationship amongst Renewable Energy Consumption, Economic Growth and Foreign Direct Investment in Kazakhstan and Uzbekistan

Energies ◽  
2021 ◽  
Vol 14 (2) ◽  
pp. 332
Author(s):  
Janusz Grabara ◽  
Arsen Tleppayev ◽  
Malika Dabylova ◽  
Leonardus W. W. Mihardjo ◽  
Zdzisława Dacko-Pikiewicz
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Direct Investment ◽  
Renewable Energy Sources ◽  
Energy Sources ◽  
Renewable Energy Consumption ◽  
Integration Test ◽  
The Relationship

In this contemporary era, environmental problems spread at different levels in all countries of the world. Economic growth does not just depend on prioritizing the environment or improving the environmental situation. If the foreign direct investment is directed to the polluting industries, they will increase pollution and damage the environment. The purpose of the study is to consider the relationship between foreign direct investment in Kazakhstan and Uzbekistan and economic growth and renewable energy consumption. The study is based on data obtained from 1992 to 2018. The results show that there is a two-way link between foreign direct investment and renewable energy consumption in the considered two countries. The Granger causality test approach is applied to explore the causal relationship between the variables. The Johansen co-integration test approach is also employed to test for a relationship. The empirical results verify the existence of co-integration between the series. The main factors influencing renewable energy are economic growth and electricity consumption. To reduce dependence on fuel-based energy sources, Kazakhstan and Uzbekistan need to attract energy to renewable energy sources and implement energy efficiency based on rapid progress. This is because renewable energy sources play the role of an engine that stimulates the production process in the economy for all countries.

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