“…Recently, institutional qualities have also been assigned a chief role in determining economic growth (Acemoglu, Johnson, & Robinson, 2005; Barro, 2003; Bildirici, 2008; Butkiewicz & Yanikkaya, 2006; Chong & Calderon, 2000; Fraj, Hamdaoui, & Maktouf, 2018; Gwartney, Holcombe, & Lawson, 2004; Henderson, Papageorgiou, & Parmeter, 2011; Ji, Magnus, & Wang, 2014; Klein, 2005; Law, Azman‐Saini, & Ibrahim, 2013; Sobel, 2008; Valeriani & Peluso, 2011). A large number of studies acknowledged energy (both nonrenewable and renewable) as determinants of growth (Alam, Ahmed, & Begum, 2017; Arifin & Syahruddin, 2011; Bildirici, 2016; Bildirici & Özaksoy, 2018; Carmona, Feria, Golpe, & Iglesias, 2017; Cetin, 2016; Destek, 2017; Koengkan, 2018; Liu, Zhang, & Bae, 2018; Menegaki & Ozturk, 2016; Ohlan, 2016; Zafar, Shahbaz, Hou, & Sinha, 2019).…”