Analysis of the Relationship Between Renewable Energy and Economic Growth in Selected Developing Countries

Aziza Syzdykova, Aktolkin Abubakirova, Fehmi Bugra Erdal, Ainura Saparova and Zhanture Zhetibayev
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Aziza Syzdykova: Department of Finance and Accounting, Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan,
Aktolkin Abubakirova: Department of Tourism and Journalism, Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan,
Fehmi Bugra Erdal: Faculty of Management, At l m University, Ankara, Turkey,
Ainura Saparova: Department of Finance and Accounting, Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan,
Zhanture Zhetibayev: Department of Economics, Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan

International Journal of Energy Economics and Policy, 2021, vol. 11, issue 1, 110-116

Abstract: 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.

Keywords: renewable energy consumption; carbon emission; economic growth; Dynamic panel data; GMM method (search for similar items in EconPapers)
JEL-codes: O40 Q40 Q43 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2021-01-15

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