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Biomass energy consumption and economic growth nexus in OECD countries: A panel analysis

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  • Ajmi, Ahdi Noomen
  • Inglesi-Lotz, Roula

Abstract

This paper investigates the relationship between biomass energy consumption and economic growth for 26 OECD countries for 1980 to 2013 period. This study used panel unit root analyses, panel cointegration analyses, dynamic OLS analyses, fully modified OLS analyses and panel VECM Granger causality to examine the relationship. The results reveal the presence of long-run equilibrium relationship between the variables supporting the feedback hypothesis. As policy implication, OECD countries have to improve the biomass energy infrastructure as an important source of renewable energy to promote economic growth.

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  • Ajmi, Ahdi Noomen & Inglesi-Lotz, Roula, 2020. "Biomass energy consumption and economic growth nexus in OECD countries: A panel analysis," Renewable Energy, Elsevier, vol. 162(C), pages 1649-1654.
    • Handle: RePEc:eee:renene:v:162:y:2020:i:c:p:1649-1654
    DOI: 10.1016/j.renene.2020.10.002
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    References listed on IDEAS

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    More about this item

    Keywords

    OECD; Biomass energy; Economic growth; Dynamic OLS; Fully modified OLS;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

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