Akademik Veri Yönetim Sistemi
Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, cilt.10, ss.298-307, 2017 (Hakemli Dergi)
With its increasing share in total energy consumption in recent years, renewable energy has caused countries to shift their policies towards this direction. The search for alternatives to nonrenewable energy sources, which are expected to come close to running out between the years of 2050 and 2060, has been increasing each passing day. Alternative energy sources are highly important for our future, especially in this day and age in which energy wars are leading to serious destructions. Countries will be able to produce both cleaner and more economical energy by means of renewable energy sources. In the present study, the relationship between renewable energy consumption and economic growth in 49 non-OECD countries was analyzed for the period between 1980 and 2012. For this purpose, firstly, the cross-section dependence among the countries was tested. Due to the presence of cross-section dependence among the countries, a second generation unit root test (Pesaran CADF(2007)) and cointegration test (Westerlund Durbin-H (2008)) were used. The result of the analyses revealed the existence of a long term relationship between renewable energy consumption and economic growth. At the last stage of the study, the long term cointegration coefficients were estimated using the Common Correlated Effects (CCE). The findings obtained in the study are compatible with our expectations and the literature, and an increase in renewable energy consumption has a positive effect on growth and development.