This research investigates the impact of oil price, income and carbon dioxide emissions on renewable energy consumption in Russia for the data period from 1990 to 2015, using the Vector Error Correction Models and the Canonical Cointegrating Regression method. This article is the only study conducting individual time-series analysis that emphasizes the effect of oil price on renewable energy consumption in the case of Russia. The results of empirical analysis conclude that oil price affects renewable energy consumption negatively. The negative oil price effects on renewable energy use can be interpreted as a sign of issue that stems from higher oil prices and slows the transition from conventional to renewable energy sources. Additionally, we found that there is a positive and statistically significant influence of real GDP per capita as a proxy of income on renewable energy consumption, whereas the carbon dioxide emissions have a negative and statistically insignificant influence on renewable energy consumption. Considering these empirical results, Russia, which has a significant share in energy production in the world, should focus on the use of renewable energy in order to maintain this superiority and its sustainability. The findings of this paper may be useful to policymakers and may help to contribute to existing literature for future research in the case of oil-exporting countries.

No abstract

In the common characteristic structure of economic and political formations, it is possible to see geographic proximity, common history, common culture, language and religious elements together. Communities that are formed, in this way, by a combination of more than one country aim to ensure economic, political and military superiority over other countries that do not involve in or over the big countries that they cannot fight alone. European Union Fırstly That was emerged as Coal and Steel Community in 1951. EU is integration process. Fırst stage of integration is economic. End of integration process is political unıty. But EU has met economic crise of Greece. EU has negotiated with Greece ın order to take place economic measures for long time. Finally, Greece has convinced by EU on economic measures. However. EU have debated removing of Greece from Monetary Union. Actually, EU behaved mistakenly about financial policy that attıtude is analyzed. Furthermore We stressed that in the context; EU isn't able to harmony ın political integration and financial policy.

ÖZ2008 küresel ekonomik kriziyle birlikte ciddi ölçülerde azalan sermaye hareketlerinin kriz sonrasında yeniden artıĢ göstermesi bu konudaki tartıĢmaları yeniden gündeme getirmiĢtir. Ġç tasarrufları, teknolojisi ve dövizi yetersiz geliĢmekte olan ülkeler kalkınmalarını finanse etmek ve böylece geliĢmiĢ ülkelerle aralarındaki farkı kapatabilmek için yabancı sermayeye gereksinim duymaktadır. Bu çalıĢmada geliĢmekte olan ülkelere yönelik sermaye hareketlerinin makroekonomik sonuçları incelenmektedir. Özellikle doğru-dan yabancı sermaye yatırımları ve portföy yatırımları üzerinde odaklanan çalıĢmada sermaye hareketlerinin geliĢimi ve belirleyicileri ve ekonomi üzerindeki olumlu ve olumsuz etkileri tartıĢılmaktadır. GeliĢ-mekte olan ülkeler, sağladığı teknoloji ve bilgi transferi nedeniyle verimliliği arttırıp, ekonomik büyüme-yi destekleyen ve ani geri dönüĢ olasılığı düĢük olan doğrudan yabancı sermaye yatırımlarına daha çok önem vermelidir. Buna karĢın spekülatif ve değiĢken bir sermaye bileĢeni olan portföy yatırımları, geliĢ-mekte olan ülkelerin sermaye yetersizliği problemini çözmenin riskli ve sorunlu yolunu oluĢturmaktadır. CAPITAL FLOWS TO DEVELOPING COUNTRIES AND ECONOMIC RESULTS ABSTRACTThe increase -after the crisis-in capital movements which drastically decreased due to 2008 global economic crisis has put the clock back on this issue. Countries that are underdeveloped in terms of domestic savings, technology and foreign exchange need a foreign capital in order to finance the development and thus, to bridge the gaps with the developed countries. In this study, the macroeconomic consequences of capital movements towards the developed countries have been examined. This study particularly focusing directly on foreign capital investments and portfolio investments has discussed the development and determinants of capital movements and the positive and negative effects on the economy. Developing countries should increase productivity by the reason of providing technology and knowledge transfer and should place a great emphasis on foreign direct capital investments that promote economic growth and have a minimum possibility of sudden return. On the other hand, portfolio investments, which are the speculative and variable investment components, make up risky and problematic way of solving undercapitalization problem of developing countries.

This paper explores the effect of financial development, economic growth, and energy prices represented by consumer price index (CPI) on energy consumption in Russia by performing VECM, CCR, DOLS and FMOLS analyses to the annual data from 1995 to 2019. The findings of this empirical analysis reveal that financial development and economic growth have positive impact on energy consumption in Russia. Furthermore, the effects of energy prices expressed by CPI is revealed to be negative, which is consistent with the theory and expectations in practice. Based on the findings of this study, the nexus and impacts of financial development on energy consumption are discussed, as well as plausible explanations and policy implications.