This study aims to determine which energy-growth hypothesis is valid in Next-11 countries. We
adopt a panel estimation techniques for the period of 1984-2010 to examine the possibility of growth,
conservative, feedback, or neutrality hypotheses for Next-11 countries. Firstly, second generat on unit
root test are used to invest gate stationarity properties of the variables because of the cross-sectional
dependence.Then a panel cointegrat on and panel causality approach are proposed to examine the
causal relationship between the variables. Finally, panel vector autoregress on model,impulse- response and variance decomposition analysis are applied using generalized moment methods.
The findings obtained from panel Granger causality test suggests that there is evidence of uni - directional causality between renewable energy consumption and economic growth in the short-term,
which is consistent with the growth hypothesis. It is also found that the responses of growth to a shock
of renewable energy consumption are positive. Since there is evidence indicating that renewable
energy consumption may trigger economic growth
This study aims to determine which energy-growth hypothesis is valid in Next-11 countries. We adopt a panel estimation techniques for the period of 1984-2010 to examine the possibility of growth, conservative, feedback, or neutrality hypotheses for Next-11 countries. Firstly, second generat on unit root test are used to invest gate stationarity properties of the variables because of the cross-sectional dependence.Then a panel cointegrat on and panel causality approach are proposed to examine the causal relationship between the variables. Finally, panel vector autoregress on model,impulse- response and variance decomposition analysis are applied using generalized moment methods. The findings obtained from panel Granger causality test suggests that there is evidence of uni - directional causality between renewable energy consumption and economic growth in the short-term, which is consistent with the growth hypothesis. It is also found that the responses of growth to a shock of renewable energy consumption are positive. Since there is evidence indicating that renewable energy consumption may trigger economic growth
Bölüm | Makaleler |
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Yazarlar | |
Yayımlanma Tarihi | 29 Temmuz 2016 |
Yayımlandığı Sayı | Yıl 2016 |