The Relationship Between Renewable Energy, Economic Growth and Trade Openness: New Evidence for EU Countries

Year 2025, Volume: 33 Issue: 63, 161 - 182

Asiye Öznur Ümit , Anıl Dağdemir

https://doi.org/10.17233/sosyoekonomi.2025.01.08

Abstract

Using panel data analysis, the study analysed the relationship between renewable energy consumption, economic growth, and trade openness for the 27 European Union (EU) member states with the highest energy imports from 1990-2021. The country-specific causality test results showed a unidirectional causality from renewable energy consumption to economic growth in Belgium, Finland, and Italy. However, in Croatia, Greece, Ireland, the Netherlands, Portugal, and Romania, a unidirectional causality was found from economic growth to renewable energy consumption. A bidirectional causality between renewable energy consumption and economic growth was identified in Germany. The causality test results also indicated a unidirectional causality from renewable energy consumption to trade openness across the panel.

Keywords

Renewable Energy, Economic Growth, Trade Openness, EU-27 Countries

Yenilenebilir Enerji, Ekonomik Büyüme ve Ticari Açıklık Arasındaki İlişki: AB Ülkeleri için Yeni Kanıtlar

Abstract

Bu çalışmanın amacı, yenilenebilir enerji tüketimi ile ekonomik büyüme ve ticari açıklık arasındaki ilişkinin 1990-2021 döneminde 27 AB üye ülkesi için panel veri yöntemiyle analiz edilmesidir. Ülke genelindeki nedensellik test sonuçları, Belçika, Finlandiya ve İtalya’da yenilebilir enerji tüketiminden ekonomik büyümeye doğru tek yönlü nedensellik ilişkini göstermiştir. Bununla birlikte, Hırvatistan, Yunanistan, İrlanda, Hollanda, Portekiz ve Romanya’da ekonomik büyümeden yenilebilir enerji tüketimine doğru olan tek yönlü nedensellik tespit edilmiştir. Almanya’da ise yenilebilir enerji tüketimi ile ekonomik büyüme arasında çift yönlü nedensellik tespit edilmiştir. Ayrıca, nedensellik test sonuçlarında, panel genelinde yenilenebilir enerji tüketiminden ticari açıklığa doğru olan tek yönlü bir nedensellik ilişkisine ulaşılmıştır.

Keywords

Yenilenebilir Enerji, Ekonomik Büyüme, Ticari Açıklık, 27-AB Ülkesi

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