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Öğe Growth and energy nexus in Europe revisited: Evidence from a fixed effects political economy model(ELSEVIER SCI LTD, 2013) Menegaki, Angeliki N.; Öztürk, İlhanThis is an empirical study on the causal relationship between economic growth and energy for 26 European countries in a multivariate panel framework over the period 1975-2009 using a two-way fixed effects model and including greenhouse gas emissions, capital, fossil energy consumption, Herfindahl index (political competition) and number of years the government chief executive stays in office (political stability) as independent variables in the model. Empirical results confirm bidirectional causality between growth and political stability, capital and political stability, capital and fossil energy consumption. Whether political stability favors the implementation of growth or leads to corruption demands further research.Öğe Renewable energy, rents and GDP growth in MENA countries(TAYLOR & FRANCIS INC, 2016) Menegaki, Angeliki N.; Öztürk, İlhanThis is an empirical study on the causal relationship between economic growth and renewable energy for MENA countries in a multivariate panel framework over the period 1997-2009 using a fixed effects model with time effects and including combustible waste, employment, fossil fuel consumption, rents and political stability as additional independent variables in the model. Results show that renewable energy affects GDP growth negatively in the long run while there is a short-run bidirectional relationship between renewable energy and fossil fuel energy consumption. In the long run, GDP is affected by rents and political stability. Also, the dynamic effects model provides evidence that for Iraq, there are additional parameters that affect the renewable energy-growth relationship.