The Relationship between the Share of Renewable Energy in Total Energy Consumption and Economic Growth: Kazakhstan and Turkiye Comparision

Saken Ualikhanovich Abdibekov, Bauyrzhan Susaruly Kulbay, Yelena Evgenevna Gridneva, Gulnar Shaimardanovna Kaliakparova, Tolendi Aripbaevich Ashimbayev and Gulmira Amangeldiyevna Perneyeva
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Saken Ualikhanovich Abdibekov: Al-Farabi Kazakh National University, Almaty, Kazakhstan
Bauyrzhan Susaruly Kulbay: Mukhtar Auezov South Kazakhstan University, Shymkent, Kazakhstan
Yelena Evgenevna Gridneva: EI «Caspian University», Almaty, Kazakhstan
Gulnar Shaimardanovna Kaliakparova: EI «Caspian University», Almaty, Kazakhstan
Tolendi Aripbaevich Ashimbayev: Almaty Humanitarian-Economic University, Almaty, Kazakhstan
Gulmira Amangeldiyevna Perneyeva: Al-Farabi Kazakh National University, Almaty, Kazakhstan

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 5, 24-30

Abstract: This study examines the relationship between the share of renewable energy sources in total energy consumption and economic growth by comparing the data of Kazakhstan and Turkiye using the annual data for the 1991-2019 period. We collected the data from the World Bank website (https://data.worldbank.org/indicator/). Impulse - Response Analysis and Variance Decomposition Analysis were applied to the data using the Vector Autoregressive (VAR) model. Research findings showed that although there is a relationship between renewable energy consumption and economic growth for Kazakhstan, this is not valid for Turkiye. The causality of this relationship, which is valid for Kazakhstan, is determined by the Granger causality analysis. According to the analysis, renewable energy consumption affects Kazakhstan's economic growth, but this effect does not translate into a causal relationship. Again, for both countries, we see that the impact of renewable energy shocks on economic growth remained limited and faded in a few periods. Another important finding is that the share of renewable energy consumption in the economic growth variance decomposition is higher for Kazakhstan.

Keywords: Kazakhstan; Turkiye; Renewable Energy Resources; Economic Growth; VAR (search for similar items in EconPapers)
JEL-codes: C13 C20 C22 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2023-05-4

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