The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries
This study extends the empirical literature on the determinants of renewable energy consumption in the case of 25 OECD countries for the period 1980–2011. Preliminary analysis suggests the presence of cross-sectional dependence within the panel data. As a result, second-generation panel unit root te...
| Main Authors: | , |
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| Format: | Journal Article |
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Routledge
2014
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| Online Access: | http://hdl.handle.net/20.500.11937/24441 |
| _version_ | 1848751430368755712 |
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| author | Apergis, Nicholas Payne, J. |
| author_facet | Apergis, Nicholas Payne, J. |
| author_sort | Apergis, Nicholas |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This study extends the empirical literature on the determinants of renewable energy consumption in the case of 25 OECD countries for the period 1980–2011. Preliminary analysis suggests the presence of cross-sectional dependence within the panel data. As a result, second-generation panel unit root tests of Smith et al. (2004) and Pesaran (2007) are undertaken to find the respective variables that are integrated of order one. Panel cointegration and error correction modelling reveal that a long-run relationship exists between renewable energy consumptionper capita, real GDP per capita, carbon dioxide emissions per capita and real oil prices. The long-run elasticity estimates are positive and statistically significant for real GDP per capita, carbon dioxide emissions per capita and real oil prices. The panel error correction model shows that a feedback relationship exists among the variables. |
| first_indexed | 2025-11-14T07:52:36Z |
| format | Journal Article |
| id | curtin-20.500.11937-24441 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:52:36Z |
| publishDate | 2014 |
| publisher | Routledge |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-244412017-09-13T15:09:36Z The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries Apergis, Nicholas Payne, J. OECD oil prices carbon dioxide emissions renewable energy This study extends the empirical literature on the determinants of renewable energy consumption in the case of 25 OECD countries for the period 1980–2011. Preliminary analysis suggests the presence of cross-sectional dependence within the panel data. As a result, second-generation panel unit root tests of Smith et al. (2004) and Pesaran (2007) are undertaken to find the respective variables that are integrated of order one. Panel cointegration and error correction modelling reveal that a long-run relationship exists between renewable energy consumptionper capita, real GDP per capita, carbon dioxide emissions per capita and real oil prices. The long-run elasticity estimates are positive and statistically significant for real GDP per capita, carbon dioxide emissions per capita and real oil prices. The panel error correction model shows that a feedback relationship exists among the variables. 2014 Journal Article http://hdl.handle.net/20.500.11937/24441 10.1080/00036846.2014.964834 Routledge restricted |
| spellingShingle | OECD oil prices carbon dioxide emissions renewable energy Apergis, Nicholas Payne, J. The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries |
| title | The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries |
| title_full | The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries |
| title_fullStr | The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries |
| title_full_unstemmed | The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries |
| title_short | The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries |
| title_sort | causal dynamics between renewable energy, real gdp, emissions and oil prices: evidence from oecd countries |
| topic | OECD oil prices carbon dioxide emissions renewable energy |
| url | http://hdl.handle.net/20.500.11937/24441 |