The Effect of Renewable Energy Consumption on Economic Stability: Panel Data Analysis on Selected Countries

HACIİMAMOĞLU, Tunahan; Sandalcilar, Ali Rıza

doi:10.5195/emaj.2020.201

Cited by 6 publications

(3 citation statements)

References 22 publications

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“…For instance, the COVID-19 pandemic (i.e., originated from China) has been spread to other countries. This result is consistent with the findings of Dogan and Seker ( 2016 ) who report similar findings for top renewable energy-consuming countries; Sharif et al ( 2019 ) for 74 nations; Destek and Sinha ( 2020 ) for 24 OECD economies; Danish et al ( 2020 ) for BRICS countries; Nathaniel and Khan ( 2020 ) for ASEAN countries; Le and Bao ( 2020 ) for Latin America, the Caribbean emerging markets, and developing economies; Inglesi-Lotz and Dogan ( 2018 ) for Sub-Saharan Africa; Hacıimamoğlu and Sandalcılar ( 2020 ) for 35 developed and developing countries; and Sharma et al ( 2021 ) for eight developing economies of Asia.…”

Section: Resultsmentioning

confidence: 56%

Do geopolitical risk and energy consumption contribute to environmental degradation? Evidence from E7 countries

Husnain

Syed

Bashir

et al. 2022

Environ Sci Pollut Res

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Environmental degradation is frequently cited as one of the eminent issues in the modern era. To limit environmental degradation, prior literature discerns several macroeconomic, socio-economic, and institutional factors that affect environmental degradation. However, the relationship between geopolitical risk and environmental degradation is understudied in the previous literature. To fill this gap, the inquiry at hand aims to scrutinize the influence of geopolitical risk on environmental degradation for E7 countries while controlling the effect of renewable energy, non-renewable energy, and GDP. Further, we utilize both the ecological footprint and CO 2 emissions as proxies of environmental degradation and employ second-generation panel methods for robust findings. In addition to this, the present study uses augmented mean group (AMG) estimator to provide long-run relationship among the selected variables. The findings from the AMG estimator expound that there exists environmental Kuznets curve (EKC) for E7 countries. Moreover, renewable energy ameliorates environmental quality because it plunges both ecological footprint and CO 2 emissions. On the contrary, non-renewable energy consumption escalates both ecological footprint and CO 2 emissions. Finally, geopolitical risk tends to decrease CO 2 emissions as well as ecological footprint. Our findings deduce a few policy implications to replenish environmental quality. For instance, the share of renewables in the energy mix should be surged to ameliorate the environmental quality. Further, to control both the geopolitical risk and environmental degradation at the same time, policymakers should put forward reforms and initiatives (e.g., policies to escalate R&D, technological innovations, and tax exemptions on imports of renewables) that can help to improve environmental quality without affecting geopolitical risk. At times of low geopolitical risk, environmental degradation will surge; therefore, the rate of environmental control taxes should be increased by the policymakers.

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Section: Resultsmentioning

confidence: 56%

Do geopolitical risk and energy consumption contribute to environmental degradation? Evidence from E7 countries

Husnain

Syed

Bashir

et al. 2022

Environ Sci Pollut Res

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“…The CADF test is a kind of test that accounts for the interdependence of cross-sections and their heterogeneous structure. The Cross-Sectionally Augmented IPS (CIPS) test is another unit root test that is derived from the average of the CADF numbers (Hacıimamoğlu et al, 2020;Pesaran, 2007).…”

Section: Diagnostic Testsmentioning

confidence: 99%

Green Hydrogen Production and Public Health Expenditure in Hydrogen-Exporting Countries

Raouf

2023

IJEEP

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Energy resources play a significant role as a production input in many economic sectors, such as production of goods and transportation. Moreover, increased energy usage may result in increased air pollution, resulting in negative societal health effects. This paper aims to examine how the production of green hydrogen energy, as proxied by low-carbon energy production, and per capita public health spending are related. This study employs various techniques that are specific to panel data, such as panel cointegration tests, second-generation stationarity tests, and panel long-run estimates, The research has been conducted on a sample of 67 hydrogen exporting nations during the period from 2000 to 2021. The study revealed that hydrogen energy production causes a rise in per capita public health spending. Policymakers should encourage the usage and production of hydrogen energy to decrease the negative consequences of using energy that emits CO2. Reduction of carbon dioxide emissions helps nations to increase the proportion of government spending on public health per person. Furthermore, in hydrogen-exporting countries, an increase in the production of hydrogen leads to accumulate more funds from exporting hydrogen that will be used to increase spending on public health.

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“…Thus, any economic shock, such as an energy-induced shock, fluctuation, or crisis, can disrupt the balance in the economy, leading to instability. It is crucial to note that using clean and sustainable alternative energy resources can significantly contribute to reducing possible imbalances in economic indicators [18].…”

Section: Introductionmentioning

confidence: 99%

Should the European Union prioritize renewble energy or tackle energy poverty?

Sağlam,

Erdem

2024

International Journal of Energy Studies

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Energy poverty is a type of poverty that is not solely based on monetary factors. It has recently been highlighted in the literature alongside the acknowledgment of energy as a key component of sustainable economic growth. Many studies focus on replacing fossil fuels with renewable energy sources to address this issue. This study aims to analyze the impact of renewable energy consumption on energy poverty in the European Union from 1996 to 2020. The study incorporates a control variable, developed using Principal Component Analysis (PCA), to account for economic development. Second-generation panel data tests and the Common Correlated Effects Model are utilized to assess the short and long-term effects. The findings indicate that the control variable had no significant impact on energy poverty during the relevant period. Still, renewable energy consumption had both positive effects in developed countries and negative effects in transition economies. According to the results, energy poverty measures remain a key priority in most of Europe's energy policies. This highlights the significance of ensuring that the underprivileged section of society has access to affordable and sustainable energy sources.

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The Effect of Renewable Energy Consumption on Economic Stability: Panel Data Analysis on Selected Countries

Cited by 6 publications

References 22 publications

Do geopolitical risk and energy consumption contribute to environmental degradation? Evidence from E7 countries

Do geopolitical risk and energy consumption contribute to environmental degradation? Evidence from E7 countries

Green Hydrogen Production and Public Health Expenditure in Hydrogen-Exporting Countries

Should the European Union prioritize renewble energy or tackle energy poverty?

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