Relationship Between the Use of Renewable Energy, Carbon Dioxide Emission, and Economic Growth

Abstract

The study aims to examine the relationship between the use of renewable energy, CO2, and GDP per capita. In this study that has been carried out on Turkey for the period 1990-2018, time series analysis is used. The long-term relationship between variables is revealed by the cointegration test. The periodic changes of the variables are examined by the variance decomposition and impulse-response function. Finally, with the causality test, the relationship between variables and the direction of this relationship are revealed. Findings show that there is a cointegrated relationship between the variables.. According to variance decomposition in the period of 10 lags, the renewable energy variance is 96% due to itself, 2.74% to CO2, and 0.50% to shocks in per capita GDP. As for impact-response functions, while the response of renewable energy to the GDP per capita variable is negative in the first two periods, it increase slightly in the following period, and after the sixth period, the effect of the shock diminished.

The Relationship between Green Innovation, CO2 Emissions, Gross Domestic Product, and Renewable Energy Supply: A Panel Data Analysis for BRICS Countries and Turkey

“…Whereas in our findings, economic growth reduced RES in India, Turkey and South Africa, this effect was positive in Brazil and China. Furthermore, the literature discussion results also showed that economic growth positively affects CO 2 emissions (Chiu & Chang, 2009;Dong, Hochman, et al, 2018;Kesgingöz & Karamelikli, 2015;Özbay & Pehlivan, 2021;Pata & Yurtkuran, 2018). Our study shows that there is a reciprocal causality relationship between CO 2 and economic growth.…”

Türkiye'de Enerji Kaynakları, CO2 Emisyonları ve Sürdürülebilir Kalkınma Arasındaki İlişki

“…In this regard, the number of studies in this area has increased especially in recent years. Some of the research consists of panel data analysis including certain country groups (Acaravcı & Erdoğan, 2018;Ali et al, 2023;Altinoz et al, 2020;Aye & Edoja, 2017;Chen & Huang, 2013;Coondoo & Dinda, 2002;Dimitriadis et al, 2021;Fernández-Amador et al, 2017;Hdom, 2019;Ito, 2016;Koengkan et al, 2020;Lee & Brahmasrene, 2014;Lu, 2017;Magazzino, 2014Magazzino, , 2017Mahmoodi, 2017;Maku & Ikpuri, 2020;Muhammad, 2019;Radmehr et al, 2021;Rasoulinezhad & Saboori, 2018;Saidi & Hammami, 2015;Wang et al, 2011) whereas others are time-series analysis studies that examine countries individually (Ahmad et al, 2016;Çetin & Sezen, 2018;Dertli & Yinaç, 2018;Durğun & Durğun, 2018;Emir & Bekun, 2019;Karagöl et al, 2007;Khoshnevis Yazdi & Shakouri, 2018;Li et al, 2017;Li-wei, 2012;Long et al, 2015;Özbay & Pehlivan, 2021;Salari et al, 2021;Shahbaz & Leitão, 2013;Terzi & Pata, 2016;Turan & Aksoy, 2021;Uyğun & Günay, 2018;...…”

“…The different studies implemented for USA (Salari et al, 2021), India (Ahmad et al, 2016) and Turkiye (Albayrak & Gökçe, 2015;İzgi, 2020) validated the environmental Kuznets hypothesis whereas Khoshnevis Yazdi & Shakouri (2018)'s analysis did not support it. The majority of the researches made for Turkiye indicate the cointegration between the variables of emissions, renewable and nonrenewable energy sources and economic growth (Çetin & Sezen, 2018;Dertli & Yinaç, 2018;Durğun & Durğun, 2018;Özbay & Pehlivan, 2021).…”

Investigation of the Relationship of Renewable Energy Consumption and Economic Growth in E7 Countries

“…Literatürde yenilenebilir enerji tüketimi ile ekonomik büyüme arasındaki ilişkiyi inceleyen birçok çalışma (Apergis & Payne, 2010;Uçak, 2010;Sebri & Ben-Salha, 2014;Hassan vd., 2017;Özcan & Öztürk, 2019;Özbay & Pehlivan, 2020) 2016), Yenilenebilir Enerji Ülke Çekiciliği Endeksinde yer alan 38 ülkeye ait 1991-2012 dönemi verileriyle yapmış oldukları çalışmalarında yenilenebilir enerji tüketimi ve ekonomik büyüme uzun dönemli ilişki olduğu bulgusu elde etmişlerdir. Inglesi-Lotz (2016), 34 OECD ülkelerine ait 1990-2010 dönemi verileriyle yapmış oldukları çalışmalarında yenilenebilir enerji tüketimi ve ekonomik büyüme uzun dönemli ilişki olduğu bulgusuna ulaşmışlardır.…”

“…Buna göre, ekonomik büyümedeki bir artış yenilenebilir enerji tüketiminde de artışa yol açabilmekteyken, enerji tüketimindeki herhangi bir artış da ekonomik büyümede etkilere yol açabilmektedir. Bu kapsamda elde edilen sonuçların literatürde bulunan Apergis & Payne (2010), Lim ve Yoo (2012), Sebri & Ben-Salha (2014) ile Özbay & Pehlivan (2020) gibi araştırmalarla benzerlik gösterdiği görülmektedir.…”