THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND FINANCIAL DEVELOPMENT: A RESEARCH ON DEVELOPED COUNTRIES

Year 2021, Volume: 8 Issue: 2, 1064 - 1081, 27.07.2021

Tayfun Yılmaz

https://doi.org/10.30798/makuiibf.909970

Cited By: 3

Abstract

The main purpose of the study is to test the potential asymmetric interaction between financial development, economic growth, and energy consumption for a panel of G 7 countries in the 1980-2018 sample period, with the help of the asymmetric panel causality test developed by Hatemi-J (2020). Though there is no Granger causality relationship between financial development and renewable energy consumption, considering asymmetric effects, a causality relationship from financial development to renewable energy consumption and from renewable energy consumption to financial development has been identified. The results point to an asymmetric interaction in the financial development, renewable energy relationship. Besides, considering the positive and negative components, a causality relationship from renewable energy consumption to growth has been determined. Finally, as growth is the Granger cause of renewable energy consumption, there is a causality relationship from growth to renewable energy consumption based on both positive and negative components.

Keywords

Financial Development, Renewable Energy Consumption, Panel Data Analysis

YENİLENEBİLİR ENERJİ TÜKETİMİ FİNANSAL GELİŞME İLİŞKİSİ: GELİŞMİŞ ÜLKELER ÜZERİNE BİR ARAŞTIRMA

Abstract

Çalışmanın temel amacı, Hatemi-J (2020) tarafından geliştirilen, asimetrik panel nedensellik testi yardımıyla 1980-2018 örneklem döneminde G7 ülkelerinden oluşan bir panel için finansal gelişme, ekonomik büyüme ve enerji tüketimi arasındaki potansiyel asimetrik etkileşimi test etmektir. Finansal gelişme ve yenilenebilir enerji tüketimi arasında bir Granger nedensellik ilişkisi olmamasına rağmen asimetrik etkiler göz önüne alındığında finansal gelişmeden yenilenebilir enerji tüketimine ve yenilenebilir enerji tüketiminden finansal gelişmeye doğru bir nedensellik ilişkisi tespit edilmiştir. Sonuçlar finansal gelişme, yenilenebilir enerji ilişkisinde asimetrik etkileşime işaret etmektedir. Bunlara ek olarak pozitif ve negatif bileşenler dikkate alındığında, yenilenebilir enerji tüketiminden büyümeye doğru bir nedensellik ilişkisi tespit edilmiştir. Son olarak büyüme yenilenebilir enerji tüketiminin Granger nedeni olduğu gibi büyümeden yenilenebilir enerji tüketimine hem pozitif hem de negatif bileşenler bazında bir nedensellik ilişkisi söz konusudur.

Keywords

Finansal Gelişme, Yenilenebilir Enerji Tüketimi, Panel Veri Analizi

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