The impact of economic globalization on renewable energy in the OECD countries
Giray Gözgör (),
Mantu Mahalik (),
Ender Demir () and
Energy Policy, 2020, vol. 139, issue C
This paper analyzes the determinants of renewable energy consumption in the panel data of 30 OECD countries for the period from 1970 to 2015. The unique role is given to the effect of economic globalization on renewable energy. We consider several measures of economic globalization and apply different econometric techniques. We find the positive impact of the per capita income, the per capita carbon dioxide emissions, and the real price of oil on renewable energy. Also, a higher level of economic globalization promotes renewable energy, and the evidence is robust to the different measures of economic globalization. In line with our findings, promoting the economic aspects of globalization will enhance renewable energy. Thus it can suppress the adverse effect of climate change and global warming on living human beings and natural habitats in the long-run. Therefore, we need to enhance our knowledge of how globalization promotes renewable energy not only for the OECD countries but also for other developing and developed economies. From a policy perspective, we suggest that policymakers and governments in OCED countries should consider economic globalization as a “renewable energy promoting mechanism” while designing their energy demand policy for the protection of natural environmental health.
Keywords: Renewable energy; Energy demand; Economic globalization; Panel data estimations (search for similar items in EconPapers)
JEL-codes: Q42 Q41 F64 C33 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:139:y:2020:i:c:s030142152030121x
Access Statistics for this article
Energy Policy is currently edited by N. France
More articles in Energy Policy from Elsevier
Bibliographic data for series maintained by Haili He ().