Impact of fossil fuels and renewable energy consumption on economic growth in Paris Club Countries

Küçük Resim Yok

Tarih

2022

Yazarlar

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

AIP Publishing

Erişim Hakkı

info:eu-repo/semantics/closedAccess

Özet

The relationship between economic growth (in terms of GDP) and renewable energy (RE) and nonrenewable energy (NRE) consumption was investigated in 20 countries featured on the Renewable Energy Country Attractiveness Index list, also known as the Paris Club. The effect of both RE and NRE consumption on economic growth is discussed in the growth model based on the neoclassical production function. Labor and capital, which are important dynamics of growth, are also considered in the model. Granger causality and panel vector autoregression analysis are performed for the period 1991–2016. The results show that neither RE nor NRE consumption has a positive effect on economic growth. In reality, a 1% increase in RE consumption will reduce the GDP growth by 0.14%. For the effect of GDP growth on energy types, if growth increases by 1%, NRE consumption increases by 5.54%. If economic growth increases by 1%, a reduction of 1.73% occurs in RE consumption. In contrast, a causal link between both types of energy to growth has not been determined. There is no statistically significant coefficient of NRE and capital factors on GDP. A mutually positive and statistically significant relationship was determined between labor and growth. According to the results of variance decomposition, the basic dynamic of growth is itself: over a ten-year period, growth was affected by itself by 98%.

Açıklama

Anahtar Kelimeler

Kaynak

Journal of Renewable and Sustainable Energy

WoS Q Değeri

Q4

Scopus Q Değeri

N/A

Cilt

14

Sayı

4

Künye

Ozturk, I., Aslan, A., Ozsolak, B., Atay Polat, M., & Turan, Z. (2022). Impact of fossil fuels and renewable energy consumption on economic growth in Paris Club Countries. Journal of Renewable and Sustainable Energy, 14(4), 045901.

Bağlantı

https://doi.org/10.1063/5.0086752
 https://www.webofscience.com/wos/woscc/full-record/WOS:000823652800001?AlertId=d383397b-4355-449e-9419-70f9e0e77c15&SID=EUW1ED0F11JpjpkuI6RCGlp14ArRx
 https://www.scopus.com/record/display.uri?eid=2-s2.0-85134415022&origin=resultslist&sort=plf-f&src=s&st1=10.1063%2f5.0086752&sid=6b67a29457d400c66f98936c59385cad&sot=b&sdt=b&sl=22&s=DOI%2810.1063%2f5.0086752%29&relpos=0&citeCnt=3&searchTerm=
 https://hdl.handle.net/20.500.12514/3155

Koleksiyon

WoS İndeksli Yayınlar Koleksiyonu
İktisat Bölümü Koleksiyonu
Scopus İndeksli Yayınlar Koleksiyonu