The effect of renewable energy consumption on economic growth: Evidence from top 38 countries

Bhattacharya, Mita; Paramati, Sudharshan Reddy; Öztürk, İlhan; Bhattacharya, Sankar

doi:10.1016/j.apenergy.2015.10.104

Cited by 1,138 publications

(544 citation statements)

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“…Much of the literature does not incorporate an environmental approach ( e. g. Bhattacharya et al, 2016;Tang et al, 2016). On contrary, authors such as Sebri, (2015);and Wang et al, (2015) consider the environment in the study of the nexus.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The narrowing of the nexus towards electricity was made, for example by Shahbaz and Lean (2012); Shahbaz et al, (2011). The assessment of the nexus' relationships by slicing the energy on renewable and non-renewable was carried out, for example by (Bhattacharya et al, 2016;Dogan, 2015). Finally, the Nexus has been increasingly focused on each energy source, allowing to incorporate the technology characteristics of each source and analyse its influence on economic growth, such as carried out by Ohler and Fetters, (2014) and Marques et al, (2014).…”

Section: Literature Reviewmentioning

confidence: 99%

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Electricity generation mix and economic growth: What role is being played by nuclear sources and carbon dioxide emissions in France?

2016

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Electricity generation mix and economic growth: What role is being played by nuclear sources and carbon dioxide emissions in France?

2016

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“…Because investigating the linkage between renewable energy and economic growth is not the principal objective of our study, we will not develop this part further. More details can be found in recent studies, such as Edenhofer et al (2013), Kander and Stern (2014), Dogan (2015b), Alper and Oguz (2016), Bhattacharya et al (2016), Dogan (2016b), Marques et al (2016), Paramati et al (2016) and Inglesi-Lotz (2016).…”

Section: Introductionmentioning

confidence: 99%

Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis

et al. 2017

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This paper investigates the asymmetric relationship between energy consumption and economic growth by incorporating financial development, capital and labour into a production function covering the Indian economy from 1960Q 1 -2015Q 4 . The nonlinear autoregressive distributed lag bounds testing approach is applied to examine the asymmetric cointegration between the variables. An asymmetric causality test is also employed to examine the causal association between the considered variables. The results indicate cointegration between the variables in the presence of asymmetries. The asymmetric causality results show that only negative shocks in energy consumption have impacts on economic growth. In the same vein, only negative shocks in financial development have impacts on economic growth. By contrast, symmetrically, capital formation causes economic growth. Finally, over the study period, a neutral effect exists between the labour force and economic growth in India. The implications of these results for growth policies in India are also discussed.Keywords: Financial Development, Energy, Growth, India, Asymmetries JEL classification: O13 Acknowledgements: We would like to thank the editor, Professor Richard Tol (University of Sussex, Brighton, UK), as well as the three anonymous reviewers, for their valuable comments and suggestions that helped us improve our paper significantly. We also thank the participants at the 7 th International Research Meeting in Business and Management (IPAG, Nice, France, 11-12 July 2016). We are also grateful to Jawad Kazmi for his technical assistance. The authors' are responsible for any remaining errors or shortcomings. IntroductionThis study uses quarterly data to investigate the relationship between energy consumption and economic growth in India over the 1960-2015 period. Financial development (measured by domestic credit to the private sector), 1 capital formation and labour force 2 are also included in the Cobb-Douglas production function. This study's main contribution to the existing literature on the energy-growth nexus concerns its examination of the potential asymmetric relationship between the variables. Taking this asymmetry into account is important because a positive or negative variation on one variable does not have the same impact on the other variable. The existence of an asymmetric relationship between two variables can be caused by numerous factors, one of which concerns the complexity of economic systems and the mechanisms that generate the variables under study. This complexity may induce various channels through which one variable affects another. In our case, the relationship between energy consumption and economic growth has been found to be very complex because previous studies have shown four possible impact channels: the growth, conservative, feedback and neutrality hypotheses. 3 On the one hand, the relationship between energy consumption and financial development can also be very complex because numerous impact channels can exist between them...

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“…According to existing studies [31][32][33], some models are widely used for panel unit root tests. However, for panels with cross-sectional dependencies, the first-generation unit root test tends to over-reject the null hypothesis [29,34]. Thence, Pesaran [35] developed a panel root t-statistic using average individual statistics that is expressed as follows:…”

Section: Panel Unit Root Testmentioning

confidence: 99%

Nexus among Energy Consumption, Economic Growth, Urbanization and Carbon Emissions: Heterogeneous Panel Evidence Considering China’s Regional Differences

et al. 2018

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This article examines the relation among carbon emissions, energy consumption, economic growth and urbanization in four panels: national level, developed areas, medium developed areas, and underdeveloped areas, which fully considers the differences across Chinese provinces. Due to the heterogeneity among Chinese provincial panels, the heterogeneous panel analysis technique is used, which includes heterogeneous panel estimation based on dynamic ordinary least squares (DOLS) and fully modified least squares (FMOLS), and the heterogeneous panel Granger test based on Dumitrescu and Hurlin is also used. The empirical results indicate that there are long-term equilibrium relationships between carbon emissions, GDP, energy consumption structure and urbanization rate in the four panels. GDP and energy consumption structure had obvious impacts on carbon emissions in all panels, but the urbanization rate significantly affected carbon emissions only in the national and medium developed areas. The heterogeneous Granger causality test reveals that the relationship between carbon emissions and various influencing factors in different regions varies. Finally, according to the empirical research results, policy implications of reducing carbon emissions in different regions were proposed.Keywords: urbanization level; carbon emissions; energy consumption structure; heterogeneous panel analysis; regional differences IntroductionIn recent years, with the remarkable development of China's economy and the advancement of urbanization, large-scale industrialization has started in most parts of China. Large amounts of greenhouse gas emissions are emitted through the use of fossil fuels such as coal and petroleum. The emission of greenhouse gases, especially CO 2 , has been doing significant harm to the atmosphere. As a result, the "greenhouse effect" has become more serious.As it approaches 2020, China has entered the final lap in the race to build a well-off society. China's economy has entered the new normal, which has led to a better quality of economic development, a more rational social division of labor, more stable economic growth and more optimized industrial structure. Meanwhile, the mode of economic development in China is shifting from extensive growth focusing on scales and speed to intensive growth emphasizing quality and efficiency. The economic Sustainability 2018, 10, 2383; doi:10.3390/su10072383www.mdpi.com/journal/sustainability Sustainability 2018, 10, 2383 2 of 16 structure is transforming from incremental expansion to the adjustment of stocks, and the momentum of economic development is shifting from the traditional growth point to a new growth perspective. An extensive economic development mode at the expense of environmental resources is difficult to sustain, which is the reason why the current economic development mode in China is unsustainable. However, in the process of China's economic development and urbanization, high energy consumption has played a key role, causing continuous raising carbon emiss...

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The effect of renewable energy consumption on economic growth: Evidence from top 38 countries

Cited by 1,138 publications

References 29 publications

Electricity generation mix and economic growth: What role is being played by nuclear sources and carbon dioxide emissions in France?

Electricity generation mix and economic growth: What role is being played by nuclear sources and carbon dioxide emissions in France?

Energy consumption, financial development and economic growth in India: New evidence from a nonlinear and asymmetric analysis

Nexus among Energy Consumption, Economic Growth, Urbanization and Carbon Emissions: Heterogeneous Panel Evidence Considering China’s Regional Differences

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