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

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dc.contributor.authorÖztürk, İlhan
dc.contributor.authorÖztürk, İlhan
dc.contributor.authorAslan, Alper
dc.contributor.authorÖzsolak, Baki
dc.contributor.authorAtay Polat, Melike
dc.contributor.authorTuran, Zubeyir
dc.date.accessioned2022-11-09T07:01:50Z
dc.date.available2022-11-09T07:01:50Z
dc.date.issued2022en_US
dc.departmentMAÜ, Fakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümüen_US
dc.description.abstractThe 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%.en_US
dc.identifier.citationOzturk, 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.en_US
dc.identifier.doi10.1063/5.0086752en_US
dc.identifier.issue4en_US
dc.identifier.scopus2-s2.0-85134415022en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.urihttps://doi.org/10.1063/5.0086752
dc.identifier.urihttps://www.webofscience.com/wos/woscc/full-record/WOS:000823652800001?AlertId=d383397b-4355-449e-9419-70f9e0e77c15&SID=EUW1ED0F11JpjpkuI6RCGlp14ArRx
dc.identifier.urihttps://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=
dc.identifier.urihttps://hdl.handle.net/20.500.12514/3155
dc.identifier.volume14en_US
dc.identifier.wosWOS:000823652800001en_US
dc.identifier.wosqualityQ4en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherAIP Publishingen_US
dc.relation.ispartofJournal of Renewable and Sustainable Energyen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.titleImpact of fossil fuels and renewable energy consumption on economic growth in Paris Club Countriesen_US
dc.typeArticleen_US

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