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SEÇİLMİŞ OECD ÜLKELERİNDE YENİLENEBİLİR ENERJİ TÜKETİMİ, EKONOMİK BÜYÜME, PETROL FİYATLARI VE CO2 EMİSYONU ARASINDAKİ NEDENSELLİK İLİŞKİSİ

Year 2021, Issue: 3, 165 - 183, 30.07.2021
https://doi.org/10.51551/verimlilik.707804

Abstract

Amaç: Seçilmiş OECD ülkelerinde Yenilenebilir Enerji Tüketimi (REN), Ekonomik Büyüme (GDP), Petrol Fiyatları (OP) ve CO2 emisyonu (CO2) arasındaki ilişkinin 1980-2014 dönemi periyoduna ait veriler kullanılarak incelenmesi amaçlanmıştır.

Yöntem: Çalışmada, değişkenler arasındaki ilişkinin tespit edilmesinde Kónya Panel Bootstrap nedensellik yönteminden yararlanılmıştır.

Bulgular: İlk olarak, Kanada ve İtalya için REN ve CO2 arasında iki yönlü, Yunanistan ve İrlanda için REN’den CO2’ye, Avusturya, İsviçre ve ABD için CO2’den REN’e doğru tek yönlü nedensellik ilişkisi söz konusudur. İkinci olarak, İtalya için REN ve GDP arasında iki yönlü nedensellik ilişkisi mevcuttur. Buna karşılık İsviçre ve Belçika için GDP’den REN’e, Hollanda için REN’den GDP’ye doğru tek yönlü nedensellik söz konusudur. Üçüncü olarak, ABD’de REN ve OP arasında iki yönlü, Avusturya, Yunanistan, İtalya, Portekiz, İspanya ve İsviçre’de OP’den REN’e, Japonya’da REN’den OP’ye tek yönlü nedensellik ilişkisi tespit edilmiştir.

Özgünlük: Çalışma, değişkenler arasındaki ilişkiyi seçilmiş OECD ülkeleri için ve Kónya nedensellik yöntemiyle incelemesi açısından özgündür.

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THE CAUSAL LINKAGES between RENEWABLE ENERGY CONSUMPTION, ECONOMIC GROWTH, OIL PRICES and CO2 EMISSIONS in SELECTED OECD COUNTRIES

Year 2021, Issue: 3, 165 - 183, 30.07.2021
https://doi.org/10.51551/verimlilik.707804

Abstract

Purpose: It is aimed to examine the relationship between Renewable Energy Consumption (REN), Economic Growth (GDP), Oil Prices (OP), and CO2 emissions (CO2) in selected OECD countries by using the data for the period 1980-2014.

Methodology: In the study, Kónya Panel Bootstrap causality method is utilized to determine the relationship between variables.

Findings: Firstly, there is a bidirectional causality relationship between REN and CO2 for Canada and Italy; there is a one-way linkage from REN to CO2 in Greece and Ireland, while there is unidirectional causality from CO2 to REN in Austria, Switzerland, and United States. Secondly, there exists a bidirectional causality relationship between the REN and GDP in Italy. In contrast, there is a one-way causality linkage from GDP to REN in Switzerland and Belgium and from REN to GDP in the Netherlands. Thirdly, it is found that there is a bidirectional causality relationship between REN and OP in the United States; there is a one-way causality linkage from OP to REN in Austria, Greece, Italy, Portugal, Spain, and Switzerland, from REN to OP in Japan.

Originality: The study has originality in that it examines the relationship among the variables for the selected OECD countries and through Kónya causality method.

References

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  • APAYDIN, S., GUNGOR, A. and TASDOGAN, C. (2019), The Asymmetric Effects of Renewable Energy Consumption on Economic Growth in Turkey, Journal of Economics and Administrative Sciences Faculty, 6 (1), 117-134.
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  • FUINHAS, J. A. and MARQUES, A. C. (2012), Energy Consumption and Economic Growth Nexus in Portugal, Italy, Greece, Spain and Turkey: An ARDL Bounds Test Approach (1965-2009), Energy Economics, 34 (2), 511-517.
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  • INGLESI-LOTZ, R. and DOGAN, E. (2018), The Role of Renewable versus Non-Renewable Energy to the Level of CO2 Emissions a Panel Analysis of Sub-Saharan Africa’s Βig 10 Electricity Generators, Renewable Energy, 123, 36-43.
  • KAHIA, M., AISSAA, M. S. B. and LANOUAR, C. (2017), Renewable and Non-Renewable Energy Use-Economic Growth Nexus: The Case of MENA Net Oil Importing Countries, Renewable and Sustainable Energy Reviews, 71, 127-140.
  • KAHIA, M., JEBLI, M. B. and BELLOUMI, M. (2019), Analysis of the Impact of Renewable Energy Consumption and Economic Growth on Carbon Dioxide Emissions in 12 MENA Countries, Clean Technologies and Environmental Policy, 21 (4), 871-885.
  • KHAN, M. I., YASMEEN, T., SHAKOOR, A., KHAN, N. B. and MUHAMMAD, R. (2017), 2014 Oil Plunge: Causes and Impacts on Renewable Energy, Renewable and Sustainable Energy Reviews, 68, 609-622.
  • KARAGOL, E. T. and KAVAZ, I. (2017), Dünyada and Türkiye’de Yenilenebilir Enerji, SETA, 197, 1-30.
  • KÓNYA, L. (2006), Exports and Growth: Granger Causality Analysis on OECD Countries with a Panel Data Approach, Economic Modelling, 23 (6), 978-992.
  • KYRITSIS, E. and SERLETIS, A. (2019), Oil Prices and the Renewable Energy Sector, The Energy Journal, 40, 337-363.
  • LIN, B. and MOUBARAK, M. (2014), Renewable Energy Consumption-Economic Growth Nexus for China, Renewable and Sustainable Energy Reviews, 40, 111-117.
  • MAJI, I. K., SULAIMAN, C. and ABDUL-RAHIM, A. S. (2019), Renewable Energy Consumption and Economic Growth Nexus: A Fresh Evidence from West Africa, Energy Reports, 5, 384-392.
  • MANAGI, S. and OKIMOTO, T. (2013), Does the Price of Oil Interact with Clean Energy Prices in the Stock Market?, Japan and the World Economy, 27, 1-9.
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  • MENYAH, K. and WOLDE-RUFAEL, Y. (2010), CO2 Emissions, Nuclear Energy, Renewable Energy and Economic Growth in the US, Energy Policy, 38 (6), 2911-2915.
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There are 75 citations in total.

Details

Primary Language English
Journal Section Articles
Authors

Orhan Cengiz 0000-0002-1883-4754

Müge Manga 0000-0003-2675-2182

Publication Date July 30, 2021
Submission Date March 23, 2020
Published in Issue Year 2021 Issue: 3

Cite

APA Cengiz, O., & Manga, M. (2021). THE CAUSAL LINKAGES between RENEWABLE ENERGY CONSUMPTION, ECONOMIC GROWTH, OIL PRICES and CO2 EMISSIONS in SELECTED OECD COUNTRIES. Verimlilik Dergisi(3), 165-183. https://doi.org/10.51551/verimlilik.707804

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