scholarly journals The Effect of Renewable Energy Consumption on Economic Stability: Panel Data Analysis on Selected Countries

2020 ◽  
Vol 10 (1) ◽  
pp. 10-20
Author(s):  
Tunahan Hacıimamoğlu ◽  
Ali Rıza Sandalcılar
Keyword(s):  
Developing Countries ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Panel Data Analysis ◽  
Developed Countries ◽  
The Philippines ◽  
Cointegration Analysis ◽  
Economic Stability ◽  
Renewable Energy Consumption

This study aims to investigate the effect of renewable energy consumption on economic stability. In this regard, covering the period of 1990-2016, data of 35 countries, 19 of which are developed and 16 of which are developing, were used. The cointegration analysis results reveal that, there is a long-term relationship between the two variables in developed and developing countries. According to panel coefficient estimators, the effect of renewable energy consumption on economic stability is positive and statistically meaningful in Germany, Denmark, Italy, Switzerland, and Sweden, which are developed countries, and also in Egypt, Turkey, Taiwan, Pakistan, and Indonesia, which are developing countries. However, the effect is negative and significant in contrast to expectations in England and Belgium, which are developed countries, and in India and the Philippines, which are developing countries.

scholarly journals Which Influencing Factors Could Reduce Ecological Consumption? Evidence from 90 Countries for the Time Period 1996–2015

2020 ◽  
Vol 10 (2) ◽  
pp. 678 ◽  
Author(s):  
Shuai Zhang ◽  
Dajian Zhu ◽  
Jiaping Zhang ◽  
Lilian Li
Keyword(s):  
Developing Countries ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Developed Countries ◽  
Service Industries ◽  
Internet Usage ◽  
Renewable Energy Consumption ◽  
Time Period ◽  
Negative Impacts ◽  
The Developed Countries

In the “full world” and Anthropocene, global ecological consumption is beyond natural capital’s regenerative and absorptive abilities, and ecological consumption of humanity has to be reduced to have an ecologically sustainable future. To achieve the goal of ecological sustainability, influencing factors that could reduce ecological consumption need to be explored. Based on three panel datasets for the time period 1996–2015, this paper estimates the impacts of urbanization, renewable energy consumption, service industries, and internet usage on ecological consumption for all 90 sample countries, the 42 developed countries, and the 48 developing countries. Education and income are taken as control variables in the panel regressions. As a consumption-side indicator, the ecological footprint is selected to measure ecological consumption. The estimations find that (1) urbanization has negative impacts for all sample countries and the developed countries, and it is insignificant for the developing countries, (2) renewable energy consumption and service industries have negative impacts for all of the three samples, and (3) internet usage has lagged negative impacts for all sample countries, and it is an independent and significant force of reducing ecological consumption in the developing countries rather than the developed countries. It is found that there is a positive linear relationship, an inversed U-shaped relationship, and a U-shaped relationship between ecological consumption and income in all sample countries, the developed countries, and the developing countries, respectively. The estimated results provide guidance for evidence-based policymaking on reducing ecological consumption.

scholarly journals The dynamics of CO2 emissions, energy consumption and economic development: Evidence from the top 28 greenhouse gas emitters

2021 ◽  
Author(s):  
Lei Jin ◽  
Yuan-hua Chang ◽  
Meng Wang ◽  
Xin-zhu Zheng ◽  
Jian-xun Yang ◽  
...  
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Causal Relationship ◽  
Carbon Emissions ◽  
Carbon Emission ◽  
Developed Countries ◽  
Renewable Energy Consumption ◽  
The Relationship

Abstract Previous studies have done more research on the relationship between carbon emission reduction, energy consumption and economic growth in specific countries or regions, which rarely consider the issue of heterogeneity between countries or regions, and also lack the refinement of energy consumption categories. Using panel data from 2000 to 2017,this paper divided the top 28 global carbon emission countries into developed countries and developing countries, and explores cointegration and causality between renewable energy consumption,non-renewable energy consumption, economic growth and carbon emission. Results suggested that there is a two-way causal relationship between carbon emissions and economic growth in all economies. There is a two-way causal relationshipbetween economic growth in developed countries and consumption of renewable and non-renewable energy, while there is no significant relationship between economic growth and energy consumption in developing countries. There is a two-way causal relationship between carbon emissions and renewable energyin all economies, but there are significant differences; there is a two-way causal relationship between carbon emissions in developed countries and non-renewable energy, and only one-way causality exists in developing countries.

scholarly journals Renewable Energy Consumption, Trade Openness, and Environmental Degradation: A Panel Data Analysis of Developing and Developed Countries

2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Hayat Khan ◽  
Liu Weili ◽  
Itbar Khan ◽  
Sikeo Khamphengxay
Keyword(s):  
Developing Countries ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Environmental Quality ◽  
Carbon Emission ◽  
Trade Openness ◽  
Developed Countries ◽  
Renewable Energy Consumption ◽  
Long Run

Studies regarding environmental degradation and its association with different factors have got considerable attention recently in the prevalent literature but with assorted outcomes which have been a guide to the ongoing debate on environmental studies. Energy from renewable sources has been considered beneficial for environmental quality while it is still below the anticipated level especially in developing economies. Openness to trade is important to enhance economic growth while it has been overawed to worsen the quality of environment due to deprived policies especially in developing countries. Subsequently, the present research investigates trade openness, renewable energy consumption, and foreign direct investment in carbon emission in the world developing and developed countries by employing static, dynamic and long run estimators. Trade openness has been found to have a decreasing effect on carbon emission in developed countries while degrading the quality of environment in developing countries while renewable energy consumption enhances environmental quality in both samples. The impact of tourism on carbon emission varies in different samples where FDI increases emission in developed countries while having a negative effect of carbon emission in developing countries. The long run estimators also evidence the existence of long run association among variables. The outcomes of this study have considerable policy implication regarding trade openness policy formulation to upsurge environmental quality especially in developing countries. The study has further suggestions regarding tourism and promoting the use of renewable energy sources by avoiding the use of former’s energy to enhance environmental quality.

scholarly journals Threshold Effect of Economic Growth on Energy Intensity—Evidence from 21 Developed Countries

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4199
Author(s):  
Jinjin Zhou ◽  
Zenglin Ma ◽  
Taoyuan Wei ◽  
Chang Li
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Urban Population ◽  
Energy Intensity ◽  
Developed Countries ◽  
Renewable Energy Consumption ◽  
Tertiary Industry ◽  
D Investment ◽  
Threshold Point

Based on threshold regression models, this paper analyzes the effect of economic growth on energy intensity by using panel data from 21 developed countries from 1996 to 2015. Results show that a 1% increase in GDP per capita can lead to a 0.62–0.78% reduction in energy intensity, implying economic growth can significantly reduce energy intensity. The extent of the reduction in energy intensity varies depending on the economic development stages represented by key influencing factors including energy mix in consumption, urbanization, industrial structure, and technological progress. Specifically, the reduction in energy intensity due to economic growth can be enhanced with relatively more renewable energy consumption and more urban population until a threshold point, where the enhancement disappears. On the other hand, the extent of the energy intensity reduction due to economic growth can be weakened with relatively more tertiary industry activities and more research and development (R&D) investment in an economy until a threshold point, where the weakening cannot continue. However, compared to the early stages represented by the low ends of renewable energy consumption, urban population, tertiary industry activities, and R&D investment, the later stages represented by the high ends of these key factors after a threshold show the weakened effect of economic growth on the decline of energy intensity. Hence, when an economy is well-developed, policy makers are advised to put fewer expectations on the role of economic growth to reduce energy intensity, while pursuing relatively cleaner energy, greater urbanization, more tertiary industry activities, and advanced technologies.

scholarly journals Does Renewable Energy Matter for Economic Growth in Central and Eastern European Countries? Empirical Evidence from Heterogeneous Panel Cointegration Analysis

2021 ◽  
Vol 31 (1) ◽  
pp. 34-59
Author(s):  
Olimpia Neagu ◽  
Cristian Haiduc ◽  
Andrei Anghelina
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Empirical Evidence ◽  
Panel Cointegration ◽  
Cointegration Analysis ◽  
Eastern European ◽  
Renewable Energy Consumption ◽  
Eastern European Countries ◽  
Heterogeneous Panel

AbstractThe aim of the paper is to provide empirical evidence in support of the relationship between renewable energy consumption and economic growth in eleven Central and Eastern European (CEE) countries over the period 1995-2015 within a multivariate panel data analysis. Based on World Bank data, the panel cointegration analysis reveals that renewable energy consumption and economic growth are positively associated in the long run in CEE countries. The heterogeneous panel causality test indicates a bi-directional causality relationship in support of the feedback hypothesis between economic growth and renewable energy consumption in Central and Eastern European countries.

scholarly journals CO2 Emissions, Energy Consumption, and Economic Growth: New Evidence in the ASEAN Countries

2019 ◽  
Vol 12 (3) ◽  
pp. 145 ◽  
Author(s):  
Vo ◽  
Vo ◽  
Le
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Granger Causality ◽  
Co2 Emissions ◽  
Causal Effect ◽  
The Philippines ◽  
Policy Implications ◽  
Renewable Energy Consumption ◽  
Long Run

The members of the Association of Southeast Asian Nations (ASEAN) have made several attempts to adopt renewable energy targets given the economic, energy-related, environmental challenges faced by the governments, policy makers, and stakeholders. However, previous studies have focused limited attention on the role of renewable energy when testing the dynamic link between CO2 emissions, energy consumption and renewable energy consumption. As such, this study is conducted to test a common hypothesis regarding a long-run environmental Kuznets curve (EKC). The paper also investigates the causal link between carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth for countries in the region. Using various time-series econometrics approaches, our analysis covers five ASEAN members (including Indonesia, Myanmar, Malaysia, the Philippines, and Thailand) for the 1971–2014 period where required data are available. Our results reveal no long-run relationship among the variables of interest in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. The EKC hypothesis is observed in Myanmar but not in Indonesia and Malaysia. Also, Granger causality among these important variables varies considerably across the selected countries. No Granger causality among carbon emissions, energy consumption, and renewable energy consumption is reported in Malaysia, the Philippines, and Thailand. Indonesia experiences a unidirectional causal effect from economic growth to renewable energy consumption in both short and long run and from economic growth to CO2 emissions and energy consumption. Interestingly, only Myanmar has a unidirectional effect from GDP growth, energy consumption, and population to the adoption of renewable energy. Policy implications have emerged based on the findings achieved from this study for each country in the ASEAN region.

A panel data analysis of renewable energy consumption in Africa

2019 ◽  
Vol 140 ◽  
pp. 668-679 ◽  
Author(s):  
Busayo T. Olanrewaju ◽  
Olusanya E. Olubusoye ◽  
Adeola Adenikinju ◽  
Olalekan J. Akintande
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Data Analysis ◽  
Panel Data ◽  
Panel Data Analysis ◽  
Renewable Energy Consumption
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