Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries
This study examines the relationship between renewable energy consumption and economic growth for a panel of twenty OECD countries over the period 1985–2005 within a multivariate frame work. Given the relatively short span of the time series data, a panel cointegration and error correction model is...
| Main Authors: | , |
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| Format: | Journal Article |
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Elsevier Science Ltd.
2010
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| Online Access: | http://hdl.handle.net/20.500.11937/15542 |
| _version_ | 1848748921185107968 |
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| author | Apergis, Nicholas Payne, James |
| author_facet | Apergis, Nicholas Payne, James |
| author_sort | Apergis, Nicholas |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This study examines the relationship between renewable energy consumption and economic growth for a panel of twenty OECD countries over the period 1985–2005 within a multivariate frame work. Given the relatively short span of the time series data, a panel cointegration and error correction model is employed to infer the causal relationship. The heterogeneous panel cointegration test reveals a long-run equilibrium relationship between real GDP, renewable energy consumption, real gross fixed capital formation, and the labor force with the respective coefficients positive and statistically significant. The Granger-causality results indicate bidirectional causality between renewable energy consumption and economic growth in both the short-and long-run. |
| first_indexed | 2025-11-14T07:12:43Z |
| format | Journal Article |
| id | curtin-20.500.11937-15542 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:12:43Z |
| publishDate | 2010 |
| publisher | Elsevier Science Ltd. |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-155422017-09-13T13:40:19Z Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries Apergis, Nicholas Payne, James Panel unit root and cointegration tests Growth Renewable energy consumption Granger-causality This study examines the relationship between renewable energy consumption and economic growth for a panel of twenty OECD countries over the period 1985–2005 within a multivariate frame work. Given the relatively short span of the time series data, a panel cointegration and error correction model is employed to infer the causal relationship. The heterogeneous panel cointegration test reveals a long-run equilibrium relationship between real GDP, renewable energy consumption, real gross fixed capital formation, and the labor force with the respective coefficients positive and statistically significant. The Granger-causality results indicate bidirectional causality between renewable energy consumption and economic growth in both the short-and long-run. 2010 Journal Article http://hdl.handle.net/20.500.11937/15542 10.1016/j.enpol.2009.09.002 Elsevier Science Ltd. restricted |
| spellingShingle | Panel unit root and cointegration tests Growth Renewable energy consumption Granger-causality Apergis, Nicholas Payne, James Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries |
| title | Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries |
| title_full | Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries |
| title_fullStr | Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries |
| title_full_unstemmed | Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries |
| title_short | Renewable Energy Consumption and Economic Growth: Evidence from a Panel of OECD Countries |
| title_sort | renewable energy consumption and economic growth: evidence from a panel of oecd countries |
| topic | Panel unit root and cointegration tests Growth Renewable energy consumption Granger-causality |
| url | http://hdl.handle.net/20.500.11937/15542 |