Journal
ENERGY SOURCES PART B-ECONOMICS PLANNING AND POLICY
Volume 11, Issue 12, Pages 1180-1185Publisher
TAYLOR & FRANCIS INC
DOI: 10.1080/15567249.2016.1156195
Keywords
Economic growth; E-7; panel data; renewable energy; sustainability
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This study investigates the long-run relationship between renewable energy consumption and economic growth for E-7 countries over the period 1992-2012 by heterogeneous panel data analysis techniques. Heterogeneous panel cointegration test results confirm the existence of a long-run relationship among real gross domestic product (GDP), renewable energy consumption, real gross fixed capital formation, and labor force. According to the long-run output elasticities, renewable energy consumption has a positive impact on real GDP in E-7 countries. In this study, long-run output elasticities of each country are also estimated by time series analysis techniques. Empirical findings reveal the heterogeneity across countries.
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