Is Renewable Energy or Fossil Fuels Preferred in the Development of Asian Countries?

Abstract

The goal of all countries is to reduce dependence on fossil fuels and promote renewable energy consumption. Renewable energy sources occur naturally and have unlimited production potential, making them ideal for industrial, residential and transportation use. Unlike renewable energy, fossil fuel reserves are limited, depletable and cause environmental pollution. The aim of this study is to investigate the impact of gross domestic product, foreign direct investment, financial development and other proposed variables on renewable energy consumption in 26 Asian countries. We used panel data and estimated regressions using the Driscoll-Kraay method for the period 2000-2020. The panel regression results show that gross domestic product has a significantly negative relationship on renewable energy consumption; likewise, both gross capital formation and financial development are found to negatively affect renewable energy consumption. The findings show that economic and financial development in Asian countries has not yet promoted renewable energy consumption. It shows that in the current economic and financial situations of countries, the trend towards using more fossil fuels as a share of total energy resources continues.

Keywords

• Renewable energy
• Fossil fuels
• Growth
• Asian countries

Asya Ülkelerinin Kalkınmasında Yenilenebilir Enerji mi Yoksa Fosil Yakıtlar mı Tercih Ediliyor?

Abstract

Tüm ülkelerin hedefi fosil yakıtlara olan bağımlılığı azaltmak ve yenilenebilir enerji tüketimini teşvik etmektir. Yenilenebilir enerji kaynakları doğal olarak oluşur ve sınırsız üretim potansiyeline sahiptir, bu da onları endüstriyel, konut ve ulaşım kullanımı için ideal hale getirir. Yenilenebilir enerjinin aksine, fosil yakıt rezervleri sınırlıdır, tükenebilir ve çevre kirliliğine neden olur. Bu çalışmanın amacı, 26 Asya ülkesinde gayrisafi yurtiçi hasıla, doğrudan yabancı yatırım, finansal kalkınma ve önerilen diğer değişkenlerin yenilenebilir enerji tüketimi üzerindeki etkisini araştırmaktır. Çalışmada 2000-2020 yılları arasındaki panel veriler kullanılmış ve Driscoll-Kraay yöntemi kullanılarak regresyonlar tahmin edilmiştir. Panel regresyon sonuçları, gayrisafi yurtiçi hasılanın yenilenebilir enerji tüketimi üzerinde önemli bir negatif etkiye sahip olduğunu göstermektedir; benzer şekilde, hem gayrisafi sermaye oluşumunun hem de finansal kalkınmanın yenilenebilir enerji tüketimini olumsuz etkilediği bulunmuştur. Bulgular, Asya ülkelerindeki ekonomik ve finansal kalkınmanın yenilenebilir enerji tüketimini teşvik etmediği anlamına gelmektedir. Ülkeler ekonomik ve finansal olarak geliştikçe, toplam enerji kaynaklarının bir payı olarak daha fazla fosil yakıt kullanma eğilimindedirler.

Keywords

• Yenilenebilir enerji
• Fosil yakıtlar
• Büyüme
• Asya ülkeleri

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