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The Relationship Between Renewable Energy Consumption and Economic Growth in Non-OECD Countries

Year 2017, Volume: 10 Issue: 4, 298 - 307, 01.10.2017
https://doi.org/10.25287/ohuiibf.345919

Abstract

Son
yıllarda toplam enerji tüketimindeki payı artan yenilenebilir enerji, ülkelerin
politikalarını bu yöne kaydırmasına sebep olmuştur. 2050 ile 2060 yılları
arasında tükenmeye yaklaşması beklenen yenilenemeyen enerji kaynaklarına
alternatif arayışları her geçen gün artmaktadır. Özellikle enerji savaşlarının
ciddi yıkımlara yol açtığı günümüzde alternatif enerji kaynakları, geleceğimiz
için son derece önem arz etmektedir. Ülkeler, yenilenebilir enerji kaynakları
ile hem temiz hem daha ekonomik enerji üretebileceklerdir.



Bu
çalışmada, OECD dışı 49 ülkenin yenilenebilir enerji tüketimi ile ekonomik
büyüme arasındaki ilişki 1980 ile 2012 dönemi için analiz edilmiştir. Bu
amaçla, ilk önce ülkeler arasında yatay kesit bağımlılığı test edilmiştir. Ülkeler
arasında yatay kesit bağımlılığı olmasından doyalı ikinci nesil birim kök testi
(Pesaran CADF(2007)) ve eşbütünleşme testi (Westerlund Durbin-H (2008))
kullanılmıştır. Yapılan analizler sonucu, yenilenebilir enerji tüketimi ile
ekonomik büyüme arasında uzun dönemli ilişki olduğu ortaya çıkmıştır.
Çalışmanın son aşamasında ise uzun dönem eşbütünleşme katsayılarının tahmini
Common Correlated Effect (CCE) yardımıyla tespit edilmiştir. Elde edilen
bulgular, beklentilerimiz ve literatür ile uyumlu olup, yenilenebilir enerji
tüketimindeki artış büyüme ve kalkınmayı olumlu etkilemektedir.

References

  • Allen, R. C. (2009). The British industrial revolution in global perspective (pp. 135-181). Cambridge: Cambridge University Press.
  • Apergis, N., & Payne, J. E. (2010). Renewable energy consumption and economic growth: evidence from a panel of OECD countries. Energy policy, 38(1), 656-660.
  • Apergis, N., & Payne, J. E. (2012). The electricity consumption-growth nexus: renewable versus non-renewable electricity in Central America. Energy Sources, Part B: Economics, Planning, and Policy, 7(4), 423-431.
  • Bhattacharya, M., Paramati, S. R., Ozturk, I., & Bhattacharya, S. (2016). The effect of renewable energy consumption on economic growth: Evidence from top 38 countries. Applied Energy, 162, 733-741.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, 239-253.
  • Fanchi, J. R., &Fanchi, C. J. (2005). Energy in the 21st Century. Hackensack, NJ: World scientific. Hall, C., Tharakan, P., Hallock, J., Cleveland, C., & Jefferson, M. (2003). Hydrocarbons and the evolution of human culture. Nature, 426(6964), 318-322.
  • Herzer, D. (2016). Unions and Income Inequality: A Heterogeneous Panel Co‐integration and Causality Analysis. Labour, 30(3), 318-346.
  • Im, K. S.,Pesaran, M. H., &Shin, Y. (2003). Testing for unitroots in heterogeneous panels. Journal of econometrics, 115(1), 53-74. Inglesi-Lotz, R. (2016). The impact of renewable energy consumption to economic growth: A panel data application. Energy Economics, 53, 58-63.
  • Johnson, G. L. (2006). Wind energy systems. Manhattan: Prentice-Hall.
  • Kraft, J. &Kraft A. (1978) On the Relationship between Energy and GNP, Journal Energy Development, 3, 401- 403.
  • Menegaki, A. N. (2011). Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, 33(2), 257-263.
  • Michaelides, E. E. S. (2012). Alternative energy sources. Springer Science & Business Media.
  • Omri, A., & Chaibi, A. (2014). Nuclear energy, renewable energy, and economic growth in developed and developing countries: a modelling analysis from simultaneous-equation models. Renew Sustain Energy Rev, 42, 1012-1022.
  • Pao, H. T., & Fu, H. C. (2013). Renewable energy, non-renewable energy and economic growth in Brazil. Renewable and Sustainable Energy Reviews, 25, 381-392.
  • Pesaran, M. H., (2004). General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers in Economics no. 435. University of Cambridge.
  • Pesaran, M. H. (2007). A simple panel unitroot test in the presence of cross‐sectiondependence. Journal of AppliedEconometrics, 22(2), 265-312.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross‐section independence. The Econometrics Journal, 11(1), 105-127.
  • Sebri, M., & Ben-Salha, O. (2014). On the causal dynamics between economic growth, renewable energy consumption, CO 2 emissions and trade openness: fresh evidence from BRICS countries. Renewable and Sustainable Energy Reviews, 39, 14-23.
  • Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 65-94.
  • Tiwari, A. K. (2011). Comparative performance of renewable and nonrenewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: A PVAR approach. Economics Bulletin, 31(3), 2356-2372.
  • Ucan, O., Aricioglu, E., & Yucel, F. (2014). Energy consumption and economic growth nexus: evidence from developed countries in Europe. International Journal of Energy Economics and Policy, 4(3), 411.
  • Westerlund, J. (2008). Panel cointegration tests of the Fisher effect. Journal of Applied Econometrics, 23(2):193-233.
  • Wrigley, E. A. (1990). Continuity, chance and change: The character of the industrial revolution in England. Cambridge University Press.
Year 2017, Volume: 10 Issue: 4, 298 - 307, 01.10.2017
https://doi.org/10.25287/ohuiibf.345919

Abstract

References

  • Allen, R. C. (2009). The British industrial revolution in global perspective (pp. 135-181). Cambridge: Cambridge University Press.
  • Apergis, N., & Payne, J. E. (2010). Renewable energy consumption and economic growth: evidence from a panel of OECD countries. Energy policy, 38(1), 656-660.
  • Apergis, N., & Payne, J. E. (2012). The electricity consumption-growth nexus: renewable versus non-renewable electricity in Central America. Energy Sources, Part B: Economics, Planning, and Policy, 7(4), 423-431.
  • Bhattacharya, M., Paramati, S. R., Ozturk, I., & Bhattacharya, S. (2016). The effect of renewable energy consumption on economic growth: Evidence from top 38 countries. Applied Energy, 162, 733-741.
  • Breusch, T. S., & Pagan, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The Review of Economic Studies, 239-253.
  • Fanchi, J. R., &Fanchi, C. J. (2005). Energy in the 21st Century. Hackensack, NJ: World scientific. Hall, C., Tharakan, P., Hallock, J., Cleveland, C., & Jefferson, M. (2003). Hydrocarbons and the evolution of human culture. Nature, 426(6964), 318-322.
  • Herzer, D. (2016). Unions and Income Inequality: A Heterogeneous Panel Co‐integration and Causality Analysis. Labour, 30(3), 318-346.
  • Im, K. S.,Pesaran, M. H., &Shin, Y. (2003). Testing for unitroots in heterogeneous panels. Journal of econometrics, 115(1), 53-74. Inglesi-Lotz, R. (2016). The impact of renewable energy consumption to economic growth: A panel data application. Energy Economics, 53, 58-63.
  • Johnson, G. L. (2006). Wind energy systems. Manhattan: Prentice-Hall.
  • Kraft, J. &Kraft A. (1978) On the Relationship between Energy and GNP, Journal Energy Development, 3, 401- 403.
  • Menegaki, A. N. (2011). Growth and renewable energy in Europe: A random effect model with evidence for neutrality hypothesis. Energy Economics, 33(2), 257-263.
  • Michaelides, E. E. S. (2012). Alternative energy sources. Springer Science & Business Media.
  • Omri, A., & Chaibi, A. (2014). Nuclear energy, renewable energy, and economic growth in developed and developing countries: a modelling analysis from simultaneous-equation models. Renew Sustain Energy Rev, 42, 1012-1022.
  • Pao, H. T., & Fu, H. C. (2013). Renewable energy, non-renewable energy and economic growth in Brazil. Renewable and Sustainable Energy Reviews, 25, 381-392.
  • Pesaran, M. H., (2004). General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge Working Papers in Economics no. 435. University of Cambridge.
  • Pesaran, M. H. (2007). A simple panel unitroot test in the presence of cross‐sectiondependence. Journal of AppliedEconometrics, 22(2), 265-312.
  • Pesaran, M. H., Ullah, A., & Yamagata, T. (2008). A bias‐adjusted LM test of error cross‐section independence. The Econometrics Journal, 11(1), 105-127.
  • Sebri, M., & Ben-Salha, O. (2014). On the causal dynamics between economic growth, renewable energy consumption, CO 2 emissions and trade openness: fresh evidence from BRICS countries. Renewable and Sustainable Energy Reviews, 39, 14-23.
  • Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 65-94.
  • Tiwari, A. K. (2011). Comparative performance of renewable and nonrenewable energy source on economic growth and CO2 emissions of Europe and Eurasian countries: A PVAR approach. Economics Bulletin, 31(3), 2356-2372.
  • Ucan, O., Aricioglu, E., & Yucel, F. (2014). Energy consumption and economic growth nexus: evidence from developed countries in Europe. International Journal of Energy Economics and Policy, 4(3), 411.
  • Westerlund, J. (2008). Panel cointegration tests of the Fisher effect. Journal of Applied Econometrics, 23(2):193-233.
  • Wrigley, E. A. (1990). Continuity, chance and change: The character of the industrial revolution in England. Cambridge University Press.
There are 23 citations in total.

Details

Subjects Economics
Journal Section Articles
Authors

Tuba Başkonuş Direkçi

Tuncer Gövdeli

Publication Date October 1, 2017
Submission Date September 10, 2017
Acceptance Date September 30, 2017
Published in Issue Year 2017 Volume: 10 Issue: 4

Cite

APA Başkonuş Direkçi, T., & Gövdeli, T. (2017). The Relationship Between Renewable Energy Consumption and Economic Growth in Non-OECD Countries. Ömer Halisdemir Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 10(4), 298-307. https://doi.org/10.25287/ohuiibf.345919

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