Analysis of the Effects of Economic Growth and Renewable Energy Consumption on Carbon Emissions Using Multidimensional Panel Data Models

Year 2025, Volume: 9 Issue: 1, 731 - 748, 25.02.2025

Mehmet Ali Demir

https://doi.org/10.25295/fsecon.1555319

Abstract

The aim of this study is to analyze the effects of economic growth and renewable energy consumption on CO2 emissions. For this purpose, an empirical study was carried out with a multidimensional panel data model including country-income level and time dimension for 176 countries using annual data for the period 1999-2020. The empirical model includes CO2 emission amount per capita as the dependent variable, and per capita income (KBG) and renewable energy consumption (YET) as the independent variables. First, in order to decide on the appropriate model, the statistical validity of each effect (country, income level and time) in the model was tested with the random effects model maximum likelihood (LR) estimation. After the LR test, fixed effects within-group transformations were applied for the appropriate model and the results obtained were compared with the LR test results. Based on the assumption that the coefficients obtained were far from each other, it was decided that the most appropriate model was the fixed effects within-group estimation results. According to the fixed effects within-group estimation results, there is a positive relationship between economic growth and CO2 emissions, and a negative relationship between renewable energy consumption and CO2 emissions. The findings show that a 1% increase in KBG increases the amount of CO2 by 0.526%, whereas a 1% increase in YET reduces the amount of CO2 emissions by 0.0313%.

Keywords

CO2 emission, Economic Growth, Renewable Energy Consumption, Multidimensional Panel Data Model

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Ekonomik Büyüme ve Yenilenebilir Enerji Tüketiminin Karbon Emisyonları Üzerine Etkilerinin Çok Boyutlu Panel Veri Modelleri ile Analizi

Abstract

Bu çalışmanın amacı, ekonomik büyüme ve yenilenebilir enerji tüketiminin CO2 emisyon miktarı üzerindeki etkilerini analiz etmektir. Bu amaçla, 1999-2020 dönemi yıllık verileri kullanılarak 176 ülke için ülke-gelir düzeyi ve zaman boyutunun yer aldığı çok boyutlu panel veri modeli ile ampirik bir çalışma gerçekleştirilmiştir. Ampirik modelde bağımlı değişken olarak kişi başına CO2 emisyon miktarı, bağımsız değişkenler olarak ise kişi başına düşen gelir (KBG) ve yenilenebilir enerji tüketimi (YET) yer almaktadır. Öncelikle uygun modele karar verebilmek için modelde yer alan her bir etkinin (ülke, gelir düzeyi ve zaman) istatistiksel olarak geçerliliği tesadüfi etkiler modeli en çok olabilirlik (LR) tahmini ile test edilmiştir. LR testi sonrasında uygun model için sabit etkiler grup içi dönüşümler uygulanmış ve elde edilen sonuçlar LR testi sonuçları ile karşılaştırılmıştır. Elde edilen katsayılar birbirinden uzak olduğu varsayımından hareketle en uygun modelin sabit etkiler grup içi tahmin sonuçları olduğuna karar verilmiştir. Sabit etkiler grup içi tahmin sonuçlarına göre ekonomik büyüme ile CO2 emisyonları arasında pozitif, yenilenebilir enerji tüketimi ve CO2 emisyonları arasında ise negatif bir ilişkinin varlığı tespit edilmiştir. Bulgular KBG’deki %1’lik bir artışın CO2 miktarını %0.526 oranında arttırdığını, buna rağmen YET’teki %1’lik bir artışın CO2 emisyon miktarını %0.0313 oranında azalttığını ortaya koymuştur.

Keywords

CO2 emisyonu, Ekonomik Büyüme, Yenilenebilir Enerji Tüketimi, Çok Boyutlu Panel Veri Modeli

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