The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countries

C-Tier
Journal: Applied Economics
Year: 2014
Volume: 46
Issue: 36
Pages: 4519-4525

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This study extends the empirical literature on the determinants of renewable energy consumption in the case of 25 OECD countries for the period 1980-2011. Preliminary analysis suggests the presence of cross-sectional dependence within the panel data. As a result, second-generation panel unit root tests of Smith <italic>et al</italic>. (2004) and Pesaran (2007) are undertaken to find the respective variables that are integrated of order one. Panel cointegration and error correction modelling reveal that a long-run relationship exists between renewable energy consumption per capita, real GDP per capita, carbon dioxide emissions per capita and real oil prices. The long-run elasticity estimates are positive and statistically significant for real GDP per capita, carbon dioxide emissions per capita and real oil prices. The panel error correction model shows that a feedback relationship exists among the variables.

Technical Details

RePEc Handle
repec:taf:applec:v:46:y:2014:i:36:p:4519-4525
Journal Field
General
Author Count
2
Added to Database
2026-01-24