Analysis of the relationship between renewable energy and economic growth in selected developing countries
Syzdykova A. Abubakirova A. Erdal F.B. Saparova A. Zhetibayev Z.
2021Econjournals
International Journal of Energy Economics and Policy
2021#11Issue 1110 - 116 pp.
Whether there is a relationship between economic growth and energy consumption and the direction of this relationship is of great importance in energy policy decision making in countries where the state plays an active role in energy markets. If there is a relationship from energy to growth, conservative policies such as energy taxes, energy-saving, and energy prices will hurt growth. There are many studies in the literature investigating the effects of renewable and non-renewable energy consumption on the economic growth of countries. Since different data, periods, and methods were used in the studies, consensus could not be achieved. Therefore, this issue remains current and continues to be investigated. The main purpose of this study is to determine whether renewable energy consumption has a positive effect on economic growth for selected developing countries (Brazil, India, Indonesia, China, Chile, Mexico, South Africa and Turkey). Fossil energy consumption and CO2 emissions variables are also included in the model established for this purpose. GMM estimator, one of the dynamic panel data methods, was used for empirical analysis of the relationship between these variables.
Carbon Emission , Dynamic Panel Data , Economic Growth , GMM Method , Renewable Energy Consumption
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Department of Finance and Accounting, Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
Department of Tourism and Journalism, Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
Faculty of Management, Atılım University, Ankara, Turkey
Department of Economics, Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
Department of Finance and Accounting
Department of Tourism and Journalism
Faculty of Management
Department of Economics
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