Foreign Trade and Renewable Energy Consumption: The Case of OECD and Turkey

Hakan GÜNEŞ, Ahmet Kamaci and Hatice Önder

Fiscaoeconomia, 2022, issue 3

Abstract: In this study, the impact of renewable energy consumption on foreign trade over the period of 2004-2017 in 27 OECD countries is analyzed via panel data analysis. In the study, the relationship between renewable energy consumption and foreign trade is tested using the Driscoll-Kraay estimator within the framework of the panel regression model. The results obtained in the study indicate that the increase in renewable energy consumption elevates exports and lowers imports. We also present the importance of the renewable energy trend in order to improve the foreign trade balance as a policy suggestion in the study. As we move from non-renewable energy to renewable energy, the foreign trade balance would improve.

Keywords: Renewable energy consumption; export; import; Driscoll-Kraay estimator. (search for similar items in EconPapers)
JEL-codes: C23 F10 Q42 Q43 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:fis:journl:220303

DOI: 10.25295/fsecon.1068817

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