Knowledge Agora

Title	Renewable electricity and economic growth relationship in the long run: Panel data econometric evidence from the OECD
ID_Doc	63950
Authors	Chakraborty, SK; Mazzanti, M
Title	Renewable electricity and economic growth relationship in the long run: Panel data econometric evidence from the OECD
Year	2021
Published
Abstract	Renewable electricity is a pillar of the sustainability transition being pursued through climate and energy policy strategies, and the European Green Deal represents a potential investment plan for this new phase of development. Economic growth can be influenced by the expansion of renewable electricity consumption, but the nature of their relationship is ambiguous and depends on various economic and policy factors. This paper investigates the long-run relationship between renewable electricity consumption and economic growth in selected countries over the period 1971-2015 using econometric panel data techniques that specifically address cross-country heterogeneity and cross-sectional dependence. Our findings suggest that, on average, there is a significant positive long-term relationship between renewable electricity consumption and economic growth, although Granger causality is not detected. Regarding causality, we do find per capita economic growth to be a causal factor for total electricity consumption and fossil fuel based electricity consumption. (c) 2021 Elsevier B.V. All rights reserved.
PDF

Similar Articles

ID	Score	Article
4838		Popa, AF; Burca, V; Sahlian, DN; Trasca, DL The Interaction Between Renewable Energy Consumption And The Institutional Framework From The Circular Economy-Based Perspective(2022)Amfiteatru Economic, 24, 61
32054		Wang, R; Usman, M; Radulescu, M; Cifuentes-Faura, J; Balsalobre-Lorente, D Achieving ecological sustainability through technological innovations, financial development, foreign direct investment, and energy consumption in developing European countries(2023)
64057		Lupu, I; Hurduzeu, G; Lupu, R; Floriana, M; Gavrilescu, C Drivers For Renewable Energy Consumption In European Union Countries. A Panel Data Insight(2023)Amfiteatru Economic, 25, 63
19792		Majeed, A; Ahmad, M; Rasheed, MF; Khan, MK; Popp, J; Olah, J The Dynamic Impact of Financial Globalization, Environmental Innovations and Energy Productivity on Renewable Energy Consumption: Evidence From Advanced Panel Techniques(2022)
30836		Sarkodie, SA; Ajmi, AN; Adedoyin, FF; Owusu, PA Econometrics of Anthropogenic Emissions, Green Energy-Based Innovations, and Energy Intensity across OECD Countries(2021)Sustainability, 13, 8
64777		Marra, A; Colantonio, E The institutional and socio-technical determinants of renewable energy production in the EU: implications for policy(2022)Journal Of Industrial And Business Economics, 49, 2
63087		Simionescu, M; Pauna, CB; Diaconescu, T Renewable Energy and Economic Performance in the Context of the European Green Deal(2020)Energies, 13, 23
32297		Chu, LK Environmentally related technologies and environmental regulations in promoting renewable energy: evidence from OECD countries(2023)Journal Of Environmental Studies And Sciences, 13, 1
69575		Makki, M; Kaspard, J; Khalil, F; Mawad, JL Renewable Energy Consumption Determinants: Do They Differ between Oil-Exporting Countries and Oil-Importing Ones?(2024)Sustainability, 16.0, 17
68753		Fan, QY; Hajiyeva, AM Nexus between energy efficiency finance and renewable energy development: Empirical evidence from G-7 economies(2022)