The relationship between renewable energy consumption and economic growth: The case of Bulgaria
Küçük Resim Yok
Tarih
2018
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Emerald Group Publishing Ltd.
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Purpose: The purpose of this study is to investigate the relationship between renewable energy and economic growth of Bulgaria. Design/methodology/approach: This study analyzes the relationship between renewable energy and economic growth of Bulgaria for the period 1990-2016, based on annual data, by using the Toda–Yamamoto analysis and Autogressive Distrubuted Lag (ARDL) bound test. This period is characterized by the democratization of the Balkans and several crisis cycles in Bulgaria. Renewable energy consumption (REC, percentage of total final energy consumption), renewable electricity output (REO, percentage of total electricity output) and economic growth (GDP constant 2010 US$) were used. The levels or differences of the variables that are stationary were investigated using the augmented Dickey–Fuller (ADF), Philips–Perron (PP) and Kwiatkowski-Philips-Schmidt-Shin (KPSS) unit root tests. Findings: Three different results were obtained from this study. One showed that renewable energy consumption and renewable electricity output are the causes of economic growth. Another result of this study is that economic growth and renewable electricity output are the causes of renewable energy consumption. The last result is that economic growth and renewable energy consumption are not causes of renewable electricity output. There was no long-term relationship between variables. Research limitations/implications: The ARDL and Toda–Yamamoto tests were used because of lack of data sets. Thus, it is estimated that there is no long-term relationship. Originality/value: This study is an original work for Bulgaria, showing the results of the relationship between renewable energy and economic growth. In line with the results of this study, renewable energy projects related to Bulgaria can be predicted. © 2019, Emerald Publishing Limited.
Açıklama
Anahtar Kelimeler
ARDL bound test, Bound tests, Economic growth, Macroeconomic influence, Renewable energy, Toda-Yamamoto causality analysis, Economic and social effects, Energy policy, Energy utilization, Testing, Causality analysis, Design/methodology/approach, Economic growths, Macroeconomic influence, Renewable energies, Renewable energy and economic growths, Renewable energy consumption, Renewable energy projects, Economic analysis, ARDL bound test, Bound tests, Economic growth, Macroeconomic influence, Renewable energy, Toda-Yamamoto causality analysis, Economic and social effects, Energy policy, Energy utilization, Testing, Causality analysis, Design/methodology/approach, Economic growths, Macroeconomic influence, Renewable energies, Renewable energy and economic growths, Renewable energy consumption, Renewable energy projects, Economic analysis
Kaynak
International Journal of Energy Sector Management
WoS Q Değeri
N/A
Scopus Q Değeri
Q2
