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The impact of renewable and nonrenewable energy consumption on economic growth: a dynamic panel data approach

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  • Burcak Polat

Abstract

The role of energy consumption in production processes has received considerable attention from academic scholars in recent years because of the new assumptions in endogamous growth theory. Yet, the real effect of energy consumption on economic growth is still a controversial and inconclusive issue in the literature. Using a dynamic panel data technique, this study aimed to provide new insights into these issues by examining the effect of renewable and non-renewable energy consumption on economic growth in developing and developed countries for the period 2002 to 2014. The results suggest that the effect of energy consumption on economic growth varies according to the income levels of the economies concerned. While non-renewable energy consumption was positively correlated with growth in developing countries, non-renewable or renewable energy consumption was not found to have an effect on the economic performance of developed countries.

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  • Burcak Polat, 2021. "The impact of renewable and nonrenewable energy consumption on economic growth: a dynamic panel data approach," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 28(5), pages 592-603, September.
    • Handle: RePEc:taf:raaexx:v:28:y:2021:i:5:p:592-603
    DOI: 10.1080/16081625.2018.1540936
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    Cited by:

    1. Napolitano, Oreste & Foresti, Pasquale & Kounetas, Konstantinos & Spagnolo, Nicola, 2023. "The impact of energy, renewable and CO2 emissions efficiency on countries’ productivity," Energy Economics, Elsevier, vol. 125(C).
    2. Alpon Satrianto & Akmil Ikhsan & Khairunnisa Abd Samad, 2024. "Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 14(4), pages 57-65, July.
    3. Meryem FİLİZ-BAŞTÜRK, 2024. "Solar Energy Production and Economic Growth: An Analysis for EU Countries," Sosyoekonomi Journal, Sosyoekonomi Society, issue 32(60).
    4. Miguel Á. Tinoco-Zermeño, 2023. "Energy consumption, financial development, CO2 emissions, and economic growth in 23 developing economies," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 18(1), pages 1-24, Enero - M.
    5. Shrestha, Anil & Mustafa, Andy Ali & Htike, Myo Myo & You, Vithyea & Kakinaka, Makoto, 2022. "Evolution of energy mix in emerging countries: Modern renewable energy, traditional renewable energy, and non-renewable energy," Renewable Energy, Elsevier, vol. 199(C), pages 419-432.
    6. Georgeta Soava & Anca Mehedintu, 2023. "Final Energy Consumption—Growth Nexus in Romania Versus the European Union: A Sectoral Approach Using Neural Network," Energies, MDPI, vol. 16(2), pages 1-34, January.

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