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Analyzing Of The Validity Of Energy-Growth Hypothesis In N-11 Countries

Author

Listed:
  • Ebru ÇAÄžLAYAN AKAY

    (Marmara University/TURKEY)

  • Zamira OSKONBAEVA

    (Kyrgyzstan-Turkey Manas University/Kyrgyzstan)

Abstract

This study aims to determine which energy-growth hypothesis is valid in Next-11 countries. We adopt a panel estimation techniques for the period of 1984-2010 to examine the possibility of growth, conservative, feedback, or neutrality hypotheses for Next-11 countries. Firstly, second generation unit root test are used to investigate stationarity properties of the variables because of the cross-sectional dependence.Then a panel cointegration and panel causality approach are proposed to examine the causal relationship between the variables. Finally, panel vector autoregression model, impulse-response and variance decomposition analysis are applied using generalized moment methods. The findings obtained from panel Granger causality test suggests that there is evidence of uni-directional causality between renewable energy consumption and economic growth in the short-term, which is consistent with the growth hypothesis. It is also found that the responses of growth to a shock of renewable energy consumption are positive. Since there is evidence indicating that renewable energy consumption may trigger economic growth.

Suggested Citation

  • Ebru ÇAÄžLAYAN AKAY & Zamira OSKONBAEVA, 2016. "Analyzing Of The Validity Of Energy-Growth Hypothesis In N-11 Countries," JOURNAL OF LIFE ECONOMICS, Holistence Publications, vol. 3(3), pages 101-118, July.
    • Handle: RePEc:jle:journl:v:3:y:2016:i:3:p:101-118
    DOI: 10.15637/jlecon.141
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    Cited by:

    1. Chang, Chiu-Lan & Fang, Ming, 2022. "Renewable energy-led growth hypothesis: New insights from BRICS and N-11 economies," Renewable Energy, Elsevier, vol. 188(C), pages 788-800.

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