The Impact of Renewable Energy Consumption on Economic Growth and the Environmental Kuznets Curve Hypothesis: A Panel Data Analysis on OECD Countries
Year 2023,
Volume: 41 Issue: 3, 470 - 496, 27.09.2023
İsmail Hakkı İşcan
,
Tuğba Demirel
Abstract
Energy is an important factor for sustainable economic growth and development, as well as the relationship between economic growth and environmental quality has been a topic that has been discussed for many years. According to the Kuznets Curve Hypothesis, although there is a positive directional relationship between economic growth and environmental pollution in the short term, there is a negative directional relationship in the long term. This situation makes it important for countries to turn to renewable energy sources both to ensure sustainable economic growth and to prevent environmental pollution. The main problem in this study is what effect increases in the use of renewable energy will have on economic growth in the long term. Panel data analysis has been performed for this problem in this study. In the analyses, data for the period 1995-2020 were used for 28 OECD countries. According to the results of the analysis, the 1% increase in renewable energy consumption leads to a 0.19% increase in GDP. This result also confirms the Environmental Kuznets Curve Hypothesis. In addition, to the results obtained with the study, there is a bidirectional causality relationship between renewable energy consumption and economic growth.
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YENİLENEBİLİR ENERJİ TÜKETİMİNİN EKONOMİK BÜYÜME ÜZERİNE ETKİSİ VE ÇEVRESEL KUZNETS EĞRİSİ HİPOTEZİ: OECD ÜLKELERİ ÜZERİNE BİR PANEL VERİ ANALİZİ
Year 2023,
Volume: 41 Issue: 3, 470 - 496, 27.09.2023
İsmail Hakkı İşcan
,
Tuğba Demirel
Abstract
Sürdürülebilir bir ekonomik büyüme ve kalkınma için enerji önemli bir unsur olduğu kadar ekonomik büyüme ile çevresel kalite arasındaki ilişki de yıllardır tartışılan bir konudur. Çevresel Kuznets Eğrisi Hipotezine göre kısa vadede ekonomik büyüme ve çevresel kirlilik arasında doğru yönlü ilişki olmasına karşın uzun vadede bu ilişki ters yönlü bir şekil almaktadır. Bu durum, hem sürdürülebilir ekonomik büyümeyi sağlamak ve hem de çevre kirliliğini önlemek için ülkelerin yenilenebilir enerji kaynaklarına yönelmesini önemli kılmaktadır. Bu çalışmadaki temel sorunsal, yenilenebilir enerji kullanımındaki artışların, uzun dönemde ekonomik büyüme üzerine ne gibi bir etkisinin olacağıdır. Bu sorunsal karşısında, çalışmada 2021 yılında toplam enerji tüketimi içerisindeki yenilenebilir enerji tüketimi payının, dünya ortalamasının üzerinde olan ülkelerden seçilmiş 28 OECD ülkesinin 1995-2020 dönemi yenilenebilir enerji tüketimleri ile ekonomik büyüme arasındaki ilişkinin tespiti için panel veri analizi uygulanmıştır. Analiz sonuçlarına göre yenilenebilir enerji tüketimindeki %1‘lik artış, GSYİH’yı %0.19 oranında artırmaktadır. Bu sonuç Çevresel Kuznets Eğrisi Hipotezinin ortaya koyduğu gelir değişimi ve çevre kalitesi arasındaki ilişkiyi de dolaylı olarak doğrulamaktadır. Ayrıca yine çalışma ile elde edilen sonuçlara göre yenilenebilir enerji tüketimi ve ekonomik büyüme arasında çift yönlü bir nedensellik ilişki söz konusudur.
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- Kasperowicz, R., Bilani Y. & Streimikiene D. (2020). The renewable energy and economic growth nexus in European Countries. Sustainable Development, 28(5), 1086-1093, https://doi.org/10.1002/sd.2060
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