Renewable and non-renewable energy consumption and economic growth in the US: A Markov-Switching VAR analysis

Çevik, Emrah İsmail; Yıldırım, Durmuş Çağrı; Dibooğlu, Sel

doi:10.1177/0958305x20944035

Cited by 57 publications

(23 citation statements)

References 60 publications

(92 reference statements)

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“…Moreover, the research of Fu et al ( 2021 ) in selected African countries on the determinants of CO 2 using a dataset from 1980 to 2014 and the ARDL approach found that the effect of NREN on CO 2 was positive, while the impact of REN on CO 2 was negative. Similarly, Cevik et al ( 2021 ) scrutinized the energy use-CO 2 relationship in the USA utilizing Markov-Switching VAR from 1980 to 2018. The outcomes from the study disclosed that the nonrenewable impact on CO 2 was positive, while the influence of renewable influence on CO 2 was negative, suggesting that renewable energy helps in reducing degradation of the environment in the USA.…”

Section: Synopsis Of Related Studiesmentioning

confidence: 99%

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Asymmetric effect of structural change and renewable energy consumption on carbon emissions: designing an SDG framework for Turkey

Adebayo

Oladipupo

Rjoub

et al. 2022

Environ Dev Sustain

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Graphical abstract A plethora of studies have shown that structural change helps nations achieve socioeconomic growth. The influence of structural change on environmental quality, on the other hand, has yet to be thoroughly investigated. As a result, the current study assesses the asymmetric impact of structural change on CO 2 emissions while controlling for the effects of economic progress, renewable energy utilization, and nonrenewable energy in Turkey. To this end, this research used yearly data stretching from 1965 to 2019. The study applied several econometric approaches including nonlinear auto-regressive distributed lag (NARDL) and spectral causality to assess these associations. The outcomes from the NARDL reveal that variations in the regressors have a nonlinear influence on CO 2 in Turkey. Moreover, the transition in the economy’s structure helps to boost ecological quality, while the findings also show that Turkey’s current economic progress trajectory is unsustainable due to the country’s reliance on fossil fuel-based energy consumption. The outcomes of the spectral causality test also show that structural change can predict CO 2 emissions in Turkey at different frequencies. Based on the study findings, the government should encourage investment in the service sector in order to maintain a suitable level of environmental sustainability.

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Section: Synopsis Of Related Studiesmentioning

confidence: 99%

“…Nations are moving to renewable energy for all these ecological reasons. Renewable energy is anticipated to overtake coal in power output by 2025, and renewable sources will contribute 50% of the global production of electricity by 2050 (Cevik et al, 2021 ).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Asymmetric effect of structural change and renewable energy consumption on carbon emissions: designing an SDG framework for Turkey

Adebayo

Oladipupo

Rjoub

et al. 2022

Environ Dev Sustain

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show abstract

“…A general view puts forth the notion that the most important variables affecting carbon emissions are economic growth and energy consumption. 18–21 Therefore, the second research direction involves the causal relationship test between CO 2 emissions and economic growth. Results show ambiguity, as There have been no unified conclusions about the connection between CO 2 emission and economic growth.…”

Section: Introductionmentioning

confidence: 99%

Intertemporal change in the effect of economic growth on carbon emission in China

Zhang

Yin

et al. 2021

Energy & Environment

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This research examines the factor of causality between the variables of economic growth and carbon emissions in China, by conducting full, and sub-sample Granger causality tests for the period of 1965 to 2019. The full-sample Granger causality test is not considered to be authentic, and is rather unstable, as indicated by the parameter stability tests. Therefore, we consider the time variation using a causality test, and the results indicate that the causality exists from the Gross Domestic Product (GDP) growth to the Carbon Dioxide (CO2) emissions. This development essentially suggests that economic growth is critical for China's environment. It also implies that carbon emissions are mainly determined by the increase in economic growth, at some specific period in time. Thus, in this regard, the use of renewable energy sources should be encouraged by policymakers, in order to deal with rise in the energy demand, and promote industrial upgrading, so as to slow down the rate degradation that the environment have been experiencing. However, our empirical results indicate that CO2 emissions are not the Granger reason to GDP. In this case, the government can formulate more conservative reduction policies that pertain to carbon emissions, and will therefore, not impede the economic growth.

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“…The bootstrap based LR test consists of four steps (Cevik et al, 2020). The standardized residuals from the linear model are obtained in the first step.…”

Section: B Econometric Frameworkmentioning

confidence: 99%

Global islami pay piyasalarinda adaptif piyasa hipotezinin test edilmesi: markov-switching adf testi

Buğan

Çevik

et al. 2021

Bilimname

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Although market efficiency has been extensively examined in the literature, the studies generally focus on conventional stock markets. Since market efficiency is related to a well-functioning market, it is of great importance for the efficient allocation of resources and also providing sustainable economic growth. Market efficiency is not only important for conventional stock markets but also for the Islamic stock market as the Islamic stock markets are gaining prominence. An increase in the scope of Islamic markets worldwide creates the motivation for investigating the efficiency of Islamic stock markets. Hence there is a growing interest in Islamic stock markets. With a limited number of studies that analyze the efficient market hypothesis in Islamic stock markets, this paper aims to examine market efficiency in the global Islamic stock markets via Markov-Switching Augmented Dickey-Fuller (MS-ADF) test. The linear unit root test result shows that the global Islamic stock market indices exhibit random walk properties that are consistent with the Efficient Market Hypothesis. On the other hand, nonlinear test results suggest global Islamic stock markets exhibit twostate regime-switching characteristics. The MS-ADF test results indicate that the world and developed Islamic stock markets are stationary only in the high volatility regime and this finding supports the Adaptive Market Hypothesis. However, the emerging Islamic stock market is found to be stationary in both regimes that are contradictory for weak-form efficiency.

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Renewable and non-renewable energy consumption and economic growth in the US: A Markov-Switching VAR analysis

Cited by 57 publications

References 60 publications

Asymmetric effect of structural change and renewable energy consumption on carbon emissions: designing an SDG framework for Turkey

Asymmetric effect of structural change and renewable energy consumption on carbon emissions: designing an SDG framework for Turkey

Intertemporal change in the effect of economic growth on carbon emission in China

Global islami pay piyasalarinda adaptif piyasa hipotezinin test edilmesi: markov-switching adf testi

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