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  • Küçük Resim
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    Renewable and non-renewable energy consumption and economic growth relationship revisited: Evidence from G7 countries
    (ELSEVIER SCIENCE BV, 2012) Tugcu, Can Tansel; Öztürk, İlhan; Aslan, Alper
    The aim of this study is to investigate the long-run and causal relationships between renewable and non-renewable energy consumption and economic growth by using classical and augmented production functions, and making a comparison between renewable and non-renewable energy sources in order to determine which type of energy consumption is more important for economic growth in G7 countries for 1980-2009 period. Autoregressive Distributed Lag approach to cointegration was employed for this purpose. Also, causality among energy consumption and economic growth was investigated by employing a recently developed causality test by Hatemi-J (2012). The long-run estimates showed that either renewable or non-renewable energy consumption matters for economic growth and augmented production function is more effective on explaining the considered relationship. On the other hand, although bidirectional causality is found for all countries in case of classical production function, mixed results are found for each country when the production function is augmented.
  • Küçük Resim
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    Renewable vs non-renewable energy consumption as a driver of government deficit in net energy importing countries
    (2020) Öztürk, İlhan; Tugcu, Can Tansel; Menegaki, Angeliki
    This paper is an empirical study on the relationship between renewable and nonrenewable energy sources on the central government budget deficit of 33 net energy importing energy countries. We employ a panel data framework with variables such as the budget deficit of the central government, the GDP per capita, the average official exchange rate, the real interest rate, renewable and non-renewable energy consumption for a data span from 2000 to 2012. Based on causality results from this study, there is a uni-directional effect from budget deficit towards renewable energy consumption and a bi-directional causal relationship between non-renewable energy consumption and the budget deficit. Results from our study are informative for policy making, since nowadays fiscal policy on energy consumption is worldwide disputed, for not being able to fully achieve its targets. Therefore, there is political willingness to re-design it and move it from energy subsidies and energy taxes into energy full cost pricing and other tools that aim to reach those social groups that are in more need.