DocumentCode :
149154
Title :
The dynamic effects of renewable energy on economic growth
Author :
Dogan, Ibrahim ; Tuluce, Nadide Sevil ; Asker, Erdal ; Gurbuz, Suleyman
Author_Institution :
Fac. of Econ. & Administrative Sci., Bozok Univ., Yozgat, Turkey
fYear :
2014
fDate :
25-27 March 2014
Firstpage :
1
Lastpage :
5
Abstract :
Many countries rely heavily on energy sources to provide sustainable growth rate. Simultaneously, growth rates of these countries define applicability of variety of energy production. This paper examined association between renewable energy and growth rate with some other variables in the case of sixteen high income countries. Panel causality is applied to indicate short run and long run relationship among variables, bidirectional causality held in renewable energy and growth rate in the short term while unidirectional causality take place in the long term. Fully modified ordinary least square and dynamic least square support the idea that relationship between renewable energy and economic growth by statistical significance of panel result. Luxembourg is a country which has maximum contribution of the renewable energy to the gross national product according to the results of not only DOLS but also FMOLS.
Keywords :
energy consumption; least squares approximations; renewable energy sources; sustainable development; DOLS; FMOLS; Luxembourg; bidirectional causality; dynamic least square; economic growth; energy production variety; energy sources; gross national product; ordinary least square; panel causality; renewable energy; statistical significance; sustainable growth rate; unidirectional causality; Economic indicators; Electricity; Energy consumption; Equations; Mathematical model; Renewable energy sources; FMOLS-DOLS; economic growth; renewable energy;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Renewable Energy Congress (IREC), 2014 5th International
Conference_Location :
Hammamet
Print_ISBN :
978-1-4799-2196-6
Type :
conf
DOI :
10.1109/IREC.2014.6826908
Filename :
6826908
Link To Document :
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