Yayın: Economic Growth: Is it Green or not? An Application on OECD
Yükleniyor...
Tarih
2021
Yazarlar
Akarsu, Gülsüm
Korucu Gümüşoğlu, Nebile
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayımcı
Özet
For climate change mitigation and considering other environmental impacts of traditional energy
sources, countries have started to implement energy policies in favor of renewable energy sources. In this way,
without any detrimental effect on economic growth, countries can decrease their fossil fuel consumption. However,
there is a debate about the direction of causality between renewable energy consumption and economic growth as
for the total energy-growth nexus. Moreover, in the literature, the studies focus only on the total or specific type of
renewable energy consumption while analyzing the direction of causality. From this point of view, there is a gap in
the literature in such a way that there is a need for a comprehensive analysis which compares the existence and
direction of causality for different types of renewable energy sources and technologies. Therefore, the main aim of
this study is to investigate renewable energy consumption and growth nexus. By using panel data on renewable
electricity generation for OECD countries over the years from 2000 to 2016, the causality is tested for different
technologies. Moreover, as the economic growth may not correctly measure the overall economic well-being,
another measure for welfare is used. Therefore, the main motivation of this study is to include welfare in
renewable energy and growth nexus in which different type of technologies for renewable energy are considered. The results for both economic growth and welfare measure show that the existence and directi
highly differs among the different technologies. Therefore, technology specific policies should be implemented in
order to stimulate the renewable energy investments and consumption.
Açıklama
Anahtar kelimeler
Renewable energy consumption, Green growth, Panel data, Causality, Welfare