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The Relationship between Renewable Energy Consumption and Economic Growth in Azerbaijan

Author

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  • Shahriyar Mukhtarov

    (Department of Economics, Baku Engineering University, Baku, Azerbaijan,)

Abstract

This article examines the causal relationship between renewable energy consumption (REC) and economic growth (EG) in the case of Azerbaijan using annual data from 1992 to 2015. The Toda-Yamamoto causality test framework of vector autoregressive model is utilized to test the causal relationship between the variables. The results of this test reveal that there is unidirectional causality running from EG to REC. The study s findings might be a helpful tool for Azerbaijani policymakers and oil-rich economies to make renewable energy-related policy decisions.

Suggested Citation

  • Shahriyar Mukhtarov, 2022. "The Relationship between Renewable Energy Consumption and Economic Growth in Azerbaijan," International Journal of Energy Economics and Policy, Econjournals, vol. 12(1), pages 416-419.
    • Handle: RePEc:eco:journ2:2022-01-52
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    References listed on IDEAS

    as
    1. Amri, Fethi, 2016. "The relationship amongst energy consumption, foreign direct investment and output in developed and developing Countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 64(C), pages 694-702.
    2. Al-mulali, Usama & Fereidouni, Hassan Gholipour & Lee, Janice Ym & Sab, Che Normee Binti Che, 2013. "Examining the bi-directional long run relationship between renewable energy consumption and GDP growth," Renewable and Sustainable Energy Reviews, Elsevier, vol. 22(C), pages 209-222.
    3. Al-mulali, Usama & Fereidouni, Hassan Gholipour & Lee, Janice Y.M., 2014. "Electricity consumption from renewable and non-renewable sources and economic growth: Evidence from Latin American countries," Renewable and Sustainable Energy Reviews, Elsevier, vol. 30(C), pages 290-298.
    4. Nicholas Apergis & Dan Constantin Danuletiu, 2014. "Renewable Energy and Economic Growth: Evidence from the Sign of Panel Long-Run Causality," International Journal of Energy Economics and Policy, Econjournals, vol. 4(4), pages 578-587.
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    Cited by:

    1. Mubariz Mammadli, 2023. "Factors Driving Sustainable Consumption in Azerbaijan: Comparison of Generation X, Generation Y and Generation Z," Sustainability, MDPI, vol. 15(20), pages 1-21, October.
    2. Rabie Said & Muhammad Ishaq Bhatti & Ahmed Imran Hunjra, 2022. "Toward Understanding Renewable Energy and Sustainable Development in Developing and Developed Economies: A Review," Energies, MDPI, vol. 15(15), pages 1-12, July.

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    More about this item

    Keywords

    Renewable Energy; Toda-Yamamoto Causality Test; Economic Growth; Azerbaijan;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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