Towards a Political Economy of Renewable Energy: Does Democracy and Globalization Matter for Central and Eastern European Countries (CEECs)
Orhan Cengiz
ocengiz@cu.edu.trÇukurova University, Pozantı Vocational School, Department of Accounting and Taxation, Pozantı, Adana, Turkey (Turkey)
https://orcid.org/0000-0002-1883-4754
Müge Manga
Erzincan Binali Yıldırım University, FEAS, Department of Economics, Erzincan, Turkey (Turkey)
https://orcid.org/0000-0003-2675-2182
Abstract
Renewable energy policy is one of the remarkable parts of the sustainable development path. However, the political-economic dimension of renewable energy policies is not so much widely discussed. Besides, democracy and globalization are essential factors affecting renewable energy. Hence, this paper examines the relationship between renewable energy consumption, democracy, and globalization in the Central and Eastern European Countries (CEECs) during the period 1995-2021. Economic growth and CO2 emissions are used as control variables in the model. The study employs the panel vector autoregressive (PVAR) estimation technique to quantify the relationship between renewable energy consumption, democracy, and globalization by including economic growth and CO2 emissions. The findings from the PVAR analysis suggest that participatory democracy and globalization positively affect renewable energy consumption, while liberal democracy, economic growth, and CO2 emissions have a negative impact on it. Furthermore, the PVAR Granger causality test outcomes indicate an interactive causal relationship between variables.
Keywords:
renewable energy consumption, democracy, political-economy, globalization, sustainable development, Central and Eastern European Countries (CEECs)References
ADAMS S., ACHEAMPONG A. O., 2019, Reducing carbon emissions: The role of renewable energy and democracy, Journal of Cleaner Production 240: 118245, https://doi.org/10.1016/j.jclepro.2019.118245
DOI: https://doi.org/10.1016/j.jclepro.2019.118245
Google Scholar
ADAMS S., NSIAH C., 2019, Reducing carbon dioxide emissions; Does renewable energy matter?, Science of the Total Environment 693: 133288, https://doi.org/10.1016/j.scitotenv.2019.07.094.
DOI: https://doi.org/10.1016/j.scitotenv.2019.07.094
Google Scholar
AHMED Z., ADEBAYO T. S., UDEMBA E. N., MURSHED M., KIRIKKALELI D., 2022, Effects of economic com-plexity, economic growth, and renewable energy technology budgets on ecological footprint: the role of democratic ac-countability, Environmental Science and Pollution Research 29: 24925-24940, https://doi.org/10.1007/s11356-021-17673-2.
DOI: https://doi.org/10.1007/s11356-021-17673-2
Google Scholar
AHMED Z., CAGLAR A. E., MURSHED M., 2022, A path towards environmental sustainability: The role of clean energy and democracy in ecological footprint of Pakistan, Journal of Cleaner Production 358: 132007, https://doi.org/10.1016/j.jclepro.2022.132007.
DOI: https://doi.org/10.1016/j.jclepro.2022.132007
Google Scholar
AKALIN G., ERDOGAN S., 2021, Does democracy help reduce environmental degradation?, Environmental Science and Pollution Research 28: 7226-7235, https://doi.org/10.1007/s11356-020-11096-1.
DOI: https://doi.org/10.1007/s11356-020-11096-1
Google Scholar
AKPANKE T. A., DEKA A., OZDESER H., SERAJ M., 2023, Does foreign direct investment promote renewable energy use? An insight from West African countries, Renewable Energy Focus 44: 124-131, https://doi.org/10.1016/j.ref.2022.11.007.
DOI: https://doi.org/10.1016/j.ref.2022.11.007
Google Scholar
AMOAH A., ASIAMA R. K., KORLE K., KWABLAH E., 2022, Corruption: Is it a bane to renewable energy consumption in Africa?, Energy Policy 163: 112854, https://doi.org/10.1016/j.enpol.2022.112854.
DOI: https://doi.org/10.1016/j.enpol.2022.112854
Google Scholar
APERGIS N., PAYNE J. E., 2010, Renewable energy consumption and economic growth: Evidence from a panel of OECD countries, Energy Policy 38: 656-660, https://doi.org/10.1016/j.enpol.2009.09.002.
DOI: https://doi.org/10.1016/j.enpol.2009.09.002
Google Scholar
APERGIS N., PAYNE J. E., 2014, The causal dynamics between renewable energy, real GDP, emissions and oil prices: Evidence from OECD countries, Applied Economics 46(36): 4519-4525, https://doi.org/10.1080/00036846.2014.964834.
DOI: https://doi.org/10.1080/00036846.2014.964834
Google Scholar
ASONGU S., ODHIAMBO N. M., 2022, Governance and renewable energy consumption in Sub-Saharan Africa, Inter-national Journal of Energy Sector Management 16(2): 209-223, https://doi.org/10.1108/IJESM-10-2020-0009.
DOI: https://doi.org/10.1108/IJESM-10-2020-0009
Google Scholar
AWOSUSI A. A., RJOUB H., DORDUNCU H., KIRIKKALELI D., 2022, Does the potency of economic globalization and political instability reshape renewable energy usage in the face of environmental degradation?, Environmental Science and Pollution Research, https://doi.org/10.1007/s11356-022-23665-7.
DOI: https://doi.org/10.1007/s11356-022-23665-7
Google Scholar
BAYAR Y., SASMAZ M. U., OZKAYA M. H., 2021, Impact of trade and financial globalization on renewable energy in EU transition economies: A bootstrap panel Granger causality test, Energies 14: 19, https://doi.org/10.3390/en14010019.
DOI: https://doi.org/10.3390/en14010019
Google Scholar
BEN JEBLI M., BEN YOUSSEF S., 2017, The role of renewable energy and agriculture in reducing CO2 emissions: Evidence for North Africa countries, Ecological Indicators 74: 295-301, https://doi.org/10.1016/j.ecolind.2016.11.032.
DOI: https://doi.org/10.1016/j.ecolind.2016.11.032
Google Scholar
BP, 2022, Statistical Review of World Energy (71st edition), London, Great Britain.
Google Scholar
BREUSCH T. S., PAGAN A. R., 1980, The Lagrange multiplier test and its applications to model specification in econo-metrics, The Review of Economic Studies 47: 239-253.
DOI: https://doi.org/10.2307/2297111
Google Scholar
BÜYÜKÖZKAN G., KARABULUT Y., MUKUL E., 2018, A novel renewable energy selection model for United Na-tions’ sustainable development goals, Energy 165: 290-302, https://doi.org/10.1016/j.energy.2018.08.2015.
DOI: https://doi.org/10.1016/j.energy.2018.08.215
Google Scholar
CADORET I., PADOVANO F., 2016, The political drivers of renewable energies policies, Energy Economics 56: 261-269, https://doi.org/10.1016/j.eneco.2016.03.003.
DOI: https://doi.org/10.1016/j.eneco.2016.03.003
Google Scholar
CHEN C., PINAR M., STENGOS T., 2021, Determinants of renewable energy consumption: Importance of democratic institutions, Renewable Energy 179: 75-83, https://doi.org/10.1016/j.renene.2021.07.030.
DOI: https://doi.org/10.1016/j.renene.2021.07.030
Google Scholar
CHICA-OLMO J., SARI-HASSOUN S., MOYA-FERNÁNDEZ P., 2020, Spatial relationship between economic growth and renewable energy consumption in 26 European countries, Energy Economics 92: 104962, https://doi.org/10.1016/j.eneco.2020.104962.
DOI: https://doi.org/10.1016/j.eneco.2020.104962
Google Scholar
ELHEDDAD M., ALFAR A. J. K., HALOUB R., SHARMA N., GOMES P., 2022, The impact of foreign direct in-vestment (FDI) on renewable and non-renewable energy in Bangladesh: Does the global climate change emergencies re-quired?, International Journal of Emergency Services 11(3): 409-421, https://doi.org/10.1108/IJES-12-2021-0083.
DOI: https://doi.org/10.1108/IJES-12-2021-0083
Google Scholar
EREN B. M., TASPINAR N., GOKMENOGLU K. K., 2019, The impact of financial development and economic growth on renewable energy consumption: Empirical analysis of India, Science of the Total Environment 663: 189-197, https://doi.org/10.1016/j.scitotenv.2019.01.323.
DOI: https://doi.org/10.1016/j.scitotenv.2019.01.323
Google Scholar
ERGUN S. J., OWUSU P. A., RIVAS M. F., 2019, Determinants of renewable energy consumption in Africa, Environmental Science and Pollution Research 26: 15390-15405, https://doi.org/10.1007/s11356-019-04567-7.
DOI: https://doi.org/10.1007/s11356-019-04567-7
Google Scholar
FLEMING A., WISE R. M., HANSEN H., SAMS L., 2017, The sustainable development goals: A case study, Marine Policy 86: 94-103, https://doi.org/10.1016/j.marpol.2017.09.019.
DOI: https://doi.org/10.1016/j.marpol.2017.09.019
Google Scholar
GHAZOUANI T., 2022, Dynamic impact of globalization on renewable energy consumption: Non-parametric modelling evidence, Technological Forecasting & Social Change 185: 122115, https://doi.org/10.1016/j.techfore.2022.122115.
DOI: https://doi.org/10.1016/j.techfore.2022.122115
Google Scholar
GLOBAL STATUS REPORT, 2022, Renewables 2022, https://www.ren21.net/gsr-2022/.
Google Scholar
GOZGOR G., MAHALIK M.K., DEMIR E., PADHAN H., 2020, The impact of economic globalization on renewable energy in the OECD countries, Energy Policy 139: 111365, https://doi.org/10.1016/j.enpol.2020.111365.
DOI: https://doi.org/10.1016/j.enpol.2020.111365
Google Scholar
GYGLI S., HAELG F., POTRAFKE N., STURM J. E., 2019. The KOF globalisation index-revisited, The Review of International Organizations 14: 543-574, https://doi.org/10.1007/s11558-019-09344-2.
DOI: https://doi.org/10.1007/s11558-019-09344-2
Google Scholar
HAN J., ZEESHAN M., ULLAH I., REHMAN A., AFRIDI F. E. A., 2022, Trade openness and urbanization impact on renewable and non‑renewable energy consumption in China, Environmental Science and Pollution Research 29: 41653-41668, https://doi.org/10.1007/s11356-021-18353-x.
DOI: https://doi.org/10.1007/s11356-021-18353-x
Google Scholar
HILLERBRAND R., 2018, Why affordable clean energy is not enough. A capability perspective on the sustainable devel-opment goals, Sustainability 10(7): 2485, https://doi.org/10.3390/su10072485.
DOI: https://doi.org/10.3390/su10072485
Google Scholar
IEA, 2021, The pandemic continues to slow progress towards universal energy access, https://www.iea.org/commentaries/the-pandemic-continues-to-slow-progress-towards-universal-energy-access (25.02.2023).
Google Scholar
IEA, 2022, SDG7: Data and Projections, https://www.iea.org/reports/sdg7-data-and-projections (25.02.2023).
Google Scholar
İNAL V., ADDI H. M., CAKMAK E. E., TORUSDAG M., CALISKAN M., 2022, The nexus between renewable ener-gy, CO2 emissions, and economic growth: Empirical evidence from African oil-producing countries, Energy Reports 8: 1634-1643, https://doi.org/10.1016/j.egyr.2021.12.051.
DOI: https://doi.org/10.1016/j.egyr.2021.12.051
Google Scholar
KARAASLAN A., ÇAMKAYA S., 2022, The relationship between CO2 emissions, economic growth, health expendi-ture, and renewable and non-renewable energy consumption: Empirical evidence from Turkey, Renewable Energy 190: 457-466, https://doi.org/10.1016/j.renene.2022.03.139.
DOI: https://doi.org/10.1016/j.renene.2022.03.139
Google Scholar
KHAN A., CHENGGANG Y., HUSSAIN J., KUI Z., 2021, Impact of technological innovation, financial development and foreign direct investment on renewable energy, non-renewable energy and the environment in belt & road Initiative countries, Renewable Energy 171: 479-491, https://doi.org/10.1016/j.renene.2021.02.075.
DOI: https://doi.org/10.1016/j.renene.2021.02.075
Google Scholar
LIU Z., AHMAD I., PERVEEN Z., ALVI S., 2023, Do the globalization and imports of capital goods from EU, US and China determine the use of renewable energy in developing countries?, Carbon Management 14(1): 1-12, https://doi.org/10.1080/17583004.2023.2165162.
DOI: https://doi.org/10.1080/17583004.2023.2165162
Google Scholar
LOVE I., ZICCHINO L., 2006, Financial development and dynamic investment behavior: Evidence from panel VAR, The Quarterly Review of Economics and Finance 46(2): 190-210, https://doi.org/10.1016/j.qref.2005.11.007.
DOI: https://doi.org/10.1016/j.qref.2005.11.007
Google Scholar
LV Z., 2017, The effect of democracy on CO2 emissions in emerging countries: Does the level of income matter?, Renewable and Sustainable Energy Reviews 72: 900-906, https://doi.org/10.1016/j.rser.2017.01.096.
DOI: https://doi.org/10.1016/j.rser.2017.01.096
Google Scholar
MACLEAN L. M., BRASS J. N., CARLEY S., EL-ARINI A., BREEN S., 2015, Democracy and the distribution of NGOs promoting renewable energy in Africa, The Journal of Development Studies 51(6): 725-742, https://doi.org/10.1080/00220388.2014.989994.
DOI: https://doi.org/10.1080/00220388.2014.989994
Google Scholar
MAHMOOD H., TANVEER M., FURQAN M., 2021, Rule of law, corruption control, governance, and economic growth in managing renewable and nonrenewable energy consumption in South Asia, International Journal of Environmental Research and Public Health 18: 10637, https://doi.org/10.3390/ijerph182010637.
DOI: https://doi.org/10.3390/ijerph182010637
Google Scholar
MURSHED M., 2020, An empirical analysis of the non-linear impacts of ICT-trade openness on renewable energy transition, energy efficiency, clean cooking fuel access and environmental sustainability in South Asia, Environmental Science and Pollution Research 27: 36254-36281, https://doi.org/10.1007/s11356-020-09497-3.
DOI: https://doi.org/10.1007/s11356-020-09497-3
Google Scholar
NAN S., HUANG J., WU J., LI C., 2022, Does globalization change the renewable energy consumption and CO2 emis-sions nexus for OECD countries? New evidence based on the nonlinear PSTR model, Energy Strategy Reviews 44: 100995, https://doi.org/10.1016/j.esr.2022.100995.
DOI: https://doi.org/10.1016/j.esr.2022.100995
Google Scholar
NGUYEN K. H., KAKINAKA M., 2019, Renewable energy consumption, carbon emissions, and development stages: Some evidence from panel cointegration analysis, Renewable Energy 132: 1049-1057, https://doi.org/10.1016/j.renene.2018.08.069.
DOI: https://doi.org/10.1016/j.renene.2018.08.069
Google Scholar
NTANOS S., SKORDOULIS M., KYRIAKOPOULOS G., ARABATZIS G., CHALIKIAS M., GALATSIDAS S., BATZIOS A., KATSAROU A., 2018, Renewable Energy and Economic Growth: Evidence from European Countries, Sustainability 10: 2626, https://doi.org/10.3390/su10082626.
DOI: https://doi.org/10.3390/su10082626
Google Scholar
OLANREWAJU B. T., OLUBUSOYE O. E., ADENIKINJU A., AKINTANDE O. J., 2019, A panel data analysis of renewable energy consumption in Africa, Renewable Energy 140: 668-679, https://doi.org/10.1016/j.renene.2019.02.061.
DOI: https://doi.org/10.1016/j.renene.2019.02.061
Google Scholar
OMRI A., NGUYEN D. K., 2014, On the determinants of renewable energy consumption: International evidence, Energy 72: 554-560, https://doi.org/10.1016/j.energy.2014.05.081.
DOI: https://doi.org/10.1016/j.energy.2014.05.081
Google Scholar
OMRI A., SAIDI K., 2022, Factors influencing CO2 emissions in the MENA countries: The roles of renewable and non‑renewable energy, Environmental Science and Pollution Research 29: 55890-55901, https://doi.org/10.1007/s11356-022-19727-5.
DOI: https://doi.org/10.1007/s11356-022-19727-5
Google Scholar
OUR WORLD IN DATA, 2023, Our World in Data, https://ourworldindata.org/ (10.01.2023).
Google Scholar
PADHAN H., PADHANG P. C., TIWARI A. K., AHMEDR., HAMMOUDEH S., 2020, Renewable energy consump-tion and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter?, Energy Strategy Reviews 32: 100535, https://doi.org/10.1016/j.esr.2020.100535.
DOI: https://doi.org/10.1016/j.esr.2020.100535
Google Scholar
PAO H. T., FU H. C., 2013, Renewable energy, non-renewable energy and economic growth in Brazil, Renewable and Sustainable Energy Reviews 25: 381-392, https://doi.org/10.1016/j.rser.2013.05.004.
DOI: https://doi.org/10.1016/j.rser.2013.05.004
Google Scholar
PESARAN M. H., YAMAGATA T., 2008, Testing slope homogeneity in large panels, Journal of Econometrics 142: 50-93, https://doi.org/10.1016/j.jeconom.2007.05.010.
DOI: https://doi.org/10.1016/j.jeconom.2007.05.010
Google Scholar
PESARAN M. H., 2004, General diagnostic tests for cross section dependence in panels, IZA Discussion Paper No. 1240, Institute for the Study of Labor (IZA).
DOI: https://doi.org/10.2139/ssrn.572504
Google Scholar
PESARAN M. H., 2007, A simple panel unit root test in the presence of cross‐section dependence, Journal of Applied Econometric 22: 265-312.
DOI: https://doi.org/10.1002/jae.951
Google Scholar
PESARAN M. H., ULLAH A., YAMAGATA T., 2008, A bias‐adjusted LM test of error cross‐section independence, The Econometrics Journal 11: 105-127, https://doi.org/10.1111/j.1368-423X.2007.00227.x.
DOI: https://doi.org/10.1111/j.1368-423X.2007.00227.x
Google Scholar
QAMRUZZAMAN M., KARIM S., JAHAN I., 2022, Nexus between economic policy uncertainty, foreign direct in-vestment, government debt and renewable energy consumption in 13 top oil importing nations: Evidence from the symmet-ric and asymmetric investigation, Renewable Energy 195: 121-136, https://doi.org/10.1016/j.renene.2022.05.168.
DOI: https://doi.org/10.1016/j.renene.2022.05.168
Google Scholar
RAHMAN M. M., SULTANA N., 2022, Impacts of institutional quality, economic growth, and exports on renewable energy: Emerging countries perspective, Renewable Energy 189: 938-951, https://doi.org/10.1016/j.renene.2022.03.034.
DOI: https://doi.org/10.1016/j.renene.2022.03.034
Google Scholar
REZAGHOLIZADEH M., AGHAEI M., DEHGHAN O., 2020, Foreign direct investment, stock market development, and renewable energy consumption: Case study of Iran, Journal of Renewable Energy and Environment 7(2): 8-18.
Google Scholar
RITCHIE H., ROSER M., ROSADO P., 2020, CO₂ and greenhouse gas emissions, https://ourworldindata.org/co2-and-greenhouse-gas-emissions (21.01.2023).
Google Scholar
ROMUALD K. S., 2011, Democratic institutions and environmental quality: Effects and transmission channels, Proceed-ings of the German Development Economics Conference, Berlin: 1-43.
Google Scholar
SAADAOUI H., CHTOUROU N., 2022, Do institutional quality, financial development, and economic growth improve renewable energy transition? Some evidence from Tunisia, Journal of the Knowledge Economy, https://doi.org/10.1007/s13132-022-00999-8.
DOI: https://doi.org/10.1007/s13132-022-00999-8
Google Scholar
SADORSKY P., 2009a, Renewable energy consumption, CO2 emissions and oil prices in the G7 countries, Energy Economics 31: 456-462, https://doi.org/10.1016/j.eneco.2008.12.010.
DOI: https://doi.org/10.1016/j.eneco.2008.12.010
Google Scholar
SADORSKY P., 2009b, Renewable energy consumption and income in emerging economies, Energy Policy 37: 4021-4028, https://doi.org/10.1016/j.enpol.2009.05.003.
DOI: https://doi.org/10.1016/j.enpol.2009.05.003
Google Scholar
SAIDI H., MONTASSER G. E., AJMI A. N., 2020, The role of institutions in the renewable energy-growth nexus in the MENA region: A panel cointegration approach, Environmental Modeling & Assessment 25: 259-276, https://doi.org/10.1007/s10666-019-09672-y.
DOI: https://doi.org/10.1007/s10666-019-09672-y
Google Scholar
SALAHODJAEV R., SHARIPOV K., RAKHMANOV N., KHABIROV D., 2022, Tourism, renewable energy and CO2 emissions: Evidence from Europe and Central Asia, Environment, Development and Sustainability 24: 13282-13293, https://doi.org/10.1007/s10668-021-01993-x
DOI: https://doi.org/10.1007/s10668-021-01993-x
Google Scholar
SALARI M., KELLY I., DOYTCH N., JAVID R. J., 2021, Economic growth and renewable and non-renewable energy consumption: Evidence from the U.S. states, Renewable Energy 178: 50-65, https://doi.org/10.1016/j.renene.2021.06.016.
DOI: https://doi.org/10.1016/j.renene.2021.06.016
Google Scholar
SEETANAH B., SANNASSEE R. V., FAUZEL S., SOOBARUTH Y., GIUDICI G., NGUYEN A. P. H., 2018, Im-pact of economic and financial development on environmental degradation: Evidence from Small Island Developing States (SIDS), Emerging Markets Finance and Trade, https://doi.org/10.1080/1540496X.2018.1519696.
DOI: https://doi.org/10.1080/1540496X.2018.1519696
Google Scholar
SEQUEIRA T. N., SANTOS M. S., 2018, Renewable energy and politics: A systematic review and new evidence, Jour-nal of Cleaner Production 192: 553-568, https://doi.org/10.1016/j.jclepro.2018.04.190.
DOI: https://doi.org/10.1016/j.jclepro.2018.04.190
Google Scholar
SHERPA K. C., SATPATI G. G., MAL N., KHALKO A. S., RAJAK R. C., 2022, Effect of the COVID-19 on access to affordable and clean energy, COVID-19 and the Sustainable Development Goals, eds. Dehghani M. H., Karri R. R., Roy S., Elsevier: 79-104, https://doi.org/10.1016/B978-0-323-91307-2.00011-0.
DOI: https://doi.org/10.1016/B978-0-323-91307-2.00011-0
Google Scholar
SILVA P. P. D., CERQUEIRA P. A., OGBE W., 2018, Determinants of renewable energy growth in Sub Saharan Afri-ca: Evidence from panel ARDL, Energy 156: 45-54, https://doi.org/10.1016/j.energy.2018.05.068.
DOI: https://doi.org/10.1016/j.energy.2018.05.068
Google Scholar
SUN Y., LI H., ANDLIB Z., GENIE M. G., 2022, How do renewable energy and urbanization cause carbon emissions? Evidence from advanced panel estimation techniques, Renewable Energy 185: 996-1005, https://doi.org/10.1016/ j.renene.2021.12.112.
DOI: https://doi.org/10.1016/j.renene.2021.12.112
Google Scholar
UNITED NATIONS, 2015, Sustainable Development Goal 7, https://sdgs.un.org/goals/goal7 (25.02.2023).
Google Scholar
UZAR U., 2020, Political economy of renewable energy: Does institutional quality make a difference in renewable energy consumption?, Renewable Energy 155: 591-603, https://doi.org/10.1016/j.renene.2020.03.172.
DOI: https://doi.org/10.1016/j.renene.2020.03.172
Google Scholar
WAHEED R., CHANG D., SARWAR S., CHEN W., 2018, Forest, agriculture, renewable energy, and CO2 emission, Journal of Cleaner Production 172: 4231-4238, https://doi.org/10.1016/j.jclepro.2017.10.287.
DOI: https://doi.org/10.1016/j.jclepro.2017.10.287
Google Scholar
WANG E., GOZGOR G., MAHALIK M. K., PATEL G., HU G., 2022, Effects of institutional quality and political risk on the renewable energy consumption in the OECD countries, Resources Policy 79: 103041,https://doi.org/10.1016/j.resourpol.2022.103041.
DOI: https://doi.org/10.1016/j.resourpol.2022.103041
Google Scholar
WANG N., ZHU H., GUO Y., PENG C., 2018, The heterogeneous effect of democracy, political globalization, and ur-banization on PM2.5 concentrations in G20 countries: Evidence from panel quantile regression, Journal of Cleaner Pro-duction 194: 54-68, https://doi.org/10.1016/j.jclepro.2018.05.092.
DOI: https://doi.org/10.1016/j.jclepro.2018.05.092
Google Scholar
WANG Q., DONG Z., LI R., WANG L., 2022, Renewable energy and economic growth: New insight from country risks, Energy 238: 122018, https://doi.org/10.1016/j.energy.2021.122018.
DOI: https://doi.org/10.1016/j.energy.2021.122018
Google Scholar
WEI X., MOHSIN M., ZHANG Q., 2022, Role of foreign direct investment and economic growth in renewable energy development, Renewable Energy 192: 828-837, https://doi.org/10.1016/j.renene.2022.04.062.
DOI: https://doi.org/10.1016/j.renene.2022.04.062
Google Scholar
WESTERLUND J., 2005, New simple tests for panel cointegration, Econometric Reviews 24(3): 297-316, https://doi.org/10.1080/07474930500243019.
DOI: https://doi.org/10.1080/07474930500243019
Google Scholar
WORLD BANK, 2023, World Development Indicators, https://data.worldbank.org/ (12.01.2023).
Google Scholar
WU L., BROADSTOCK D. C., 2015, Does economic, financial and institutional development matter for renewable energy consumption? Evidence from emerging economies, International Journal of Economic Policy in Emerging Economies 8(1): 20-39, https://doi.org/10.1504/IJEPEE.2015.068246.
DOI: https://doi.org/10.1504/IJEPEE.2015.068246
Google Scholar
YAZDI S. K., SHAKOURI B., 2017, The globalization, financial development, renewable energy, and economic growth, Energy Sources, Part B: Economics, Planning, and Policy 12(8): 707-714, https://doi.org/10.1080/15567249.2017.1292329.
DOI: https://doi.org/10.1080/15567249.2017.1292329
Google Scholar
YOU W. H., ZHU H.M., YU K., PENG C., 2015, Democracy, financial openness, and global carbon dioxide emissions: Heterogeneity across existing emission levels, World Development 66: 189-207, https://doi.org/10.1016/j.worlddev.2014.08.013.
DOI: https://doi.org/10.1016/j.worlddev.2014.08.013
Google Scholar
YU J., TANG Y. M., CHAU K. Y., NAZAR R., ALI S., IQBAL W., 2022, Role of solar-based renewable energy in mitigating CO2 emissions: Evidence from quantile-on-quantile estimation, Renewable Energy 182: 216-226, https://doi.org/.renene.2021.10.002.
DOI: https://doi.org/10.1016/j.renene.2021.10.002
Google Scholar
ZEREN F., AKKUS H. T., 2020, The relationship between renewable energy consumption and trade openness: New evidence from emerging economies, Renewable Energy 147: 322-329, https://doi.org/10.1016/j.renene.2019.09.006.
DOI: https://doi.org/10.1016/j.renene.2019.09.006
Google Scholar
ZHANG Y., SU L., JIN W., YANG Y., 2022, The impact of globalization on renewable energy development in the coun-tries along the belt and road based on the moderating effect of the digital economy, Sustainability 14: 6031, https://doi.org/10.3390/su14106031.
DOI: https://doi.org/10.3390/su14106031
Google Scholar
ZHAO X., LUO D., 2017, Driving force of rising renewable energy in China: Environment, regulation and employment, Renewable and Sustainable Energy Reviews 68: 48-56, https://doi.org/10.1016/j.rser.2016.09.126.
DOI: https://doi.org/10.1016/j.rser.2016.09.126
Google Scholar
ZHOU A., LI, J., 2022, How do trade liberalization and human capital affect renewable energy consumption? Evidence from the panel threshold model, Renewable Energy 184: 332-342, https://doi.org/10.1016/j.renene.2021.11.096.
DOI: https://doi.org/10.1016/j.renene.2021.11.096
Google Scholar
Authors
Orhan Cengizocengiz@cu.edu.tr
Çukurova University, Pozantı Vocational School, Department of Accounting and Taxation, Pozantı, Adana, Turkey Turkey
https://orcid.org/0000-0002-1883-4754
Authors
Müge MangaErzincan Binali Yıldırım University, FEAS, Department of Economics, Erzincan, Turkey Turkey
https://orcid.org/0000-0003-2675-2182
Statistics
Abstract views: 362PDF downloads: 307
License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.