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Foreign Trade and Renewable Energy Consumption: The Case of OECD and Turkey

Author

Listed:
  • Hakan GÃœNEÅž
  • Ahmet KAMACI
  • Hatice ÖNDER

Abstract

In this study, the impact of renewable energy consumption on foreign trade over the period of 2004-2017 in 27 OECD countries is analyzed via panel data analysis. In the study, the relationship between renewable energy consumption and foreign trade is tested using the Driscoll-Kraay estimator within the framework of the panel regression model. The results obtained in the study indicate that the increase in renewable energy consumption elevates exports and lowers imports. We also present the importance of the renewable energy trend in order to improve the foreign trade balance as a policy suggestion in the study. As we move from non-renewable energy to renewable energy, the foreign trade balance would improve.

Suggested Citation

  • Hakan GÃœNEÅž & Ahmet KAMACI & Hatice ÖNDER, 2022. "Foreign Trade and Renewable Energy Consumption: The Case of OECD and Turkey," Fiscaoeconomia, Tubitak Ulakbim JournalPark (Dergipark), issue 3.
    • Handle: RePEc:fis:journl:220303
    DOI: 10.25295/fsecon.1068817
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    Keywords

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    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F10 - International Economics - - Trade - - - General
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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