Renewable Energy Contribution to Economic Growth in OECD countries

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İzmir Sosyal Bilimler Dergisi
Volume:1 Issue:2
Renewable Energy Contribution to Economic Growth in OECD countries

Renewable Energy Contribution to Economic Growth in OECD countries

Authors : Ramandray Felix

Pages : 86-93

View : 435 | Download : 559

Publication Date : 2019-12-31

Article Type : Research Paper

Abstract :In the scope of climate change mitigation, renewable energy deployment has been given a priority in the energy policy of many countries in order to reduce the dependence on non-renewable energy. A significant drop in the price of renewable energy technology has been observed over decades, which led to an increase in the share of renewable energy in the energy production. Then, the present study investigates the renewable energy contribution to economic growth in OECD countries over the period between 1996 and 2014 in the context of panel data model. The results support that the growth in renewable energy use has a significant and positive impact on economic growth. Therefore, policymaker should continue to support renewable energy-based power plant installation.
Keywords : Yenilenebilir ve yenilenemez enerji, ekonomik büyüme, panel veri modelleri

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