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The Vector Auto Regression Analysis of the Link between Renewable Energy Consumption and Economic Development for Turkey and Kazakhstan

Author

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  • Meiramkul Saiymova

    (Zhubanov Aktobe Regional State University, Moldagulova ave., 34, 030000, Aktobe, Kazakhstan,)

  • Marija Troyanskaya

    (Orenburg state University, Victory ave. 13, 460018, Orenburg, Russian Federation;)

  • Kulyash Shalgimbayeva

    (Kazakh National Agrarian Research University, Abay ave. 8, 050000, Almaty, Kazakhstan;)

  • Zhanat Babazhanova

    (Kazakh National Academy of Choreography, Uly Dala ave. 9, Z05K7Y26, Astana, Kazakhstan;)

  • Roza Jumabekova

    (Yessenov University, 32-microdistrict, 130000, Aktau, Kazakhstan.)

Abstract

The relationship between economic growth and renewable energy (RE) consumption has received enormous attention in the literature. However, there are diverse views about the Granger causality and nature of this relationship. The purpose of this empirical study is to investigate how RE consumption on electricity generation is affected by economic growth and electricity prices using data from 1990 to 2021 with the vector auto regression (VAR) approach. This is done by using case study countries (Turkey, and Kazakhstan), which have different levels of economic development, are located in diverse regions in the world, but with common effort of encouragement in term of policy implementations in RE use recently. Findings in this paper show RE consumption, for the period under consideration, is significantly determined by income and electricity price in the long run.

Suggested Citation

  • Meiramkul Saiymova & Marija Troyanskaya & Kulyash Shalgimbayeva & Zhanat Babazhanova & Roza Jumabekova, 2023. "The Vector Auto Regression Analysis of the Link between Renewable Energy Consumption and Economic Development for Turkey and Kazakhstan," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 309-315, March.
    • Handle: RePEc:eco:journ2:2023-02-34
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    References listed on IDEAS

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    More about this item

    Keywords

    renewable energy consumption; economic growth; VAR; Turkey; Kazakhstan;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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