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

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Hacıimamoğlu T., Sandalcılar A. R.

EMAJ: EMERGING MARKETS JOURNAL, cilt.10, sa.1, ss.10-20, 2020 (Hakemli Dergi)

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 10 Sayı: 1
  • Basım Tarihi: 2020
  • Doi Numarası: 10.5195/emaj.2020.201
  • Dergi Adı: EMAJ: EMERGING MARKETS JOURNAL
  • Derginin Tarandığı İndeksler: EBSCO Legal Source
  • Sayfa Sayıları: ss.10-20
  • Recep Tayyip Erdoğan Üniversitesi Adresli: Evet

Özet

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.

Keywords: Energy, Renewable Energy, Non-Renewable Energy, Economic Stability, Political Stability