ENERGY CONSUMPTION, URBANIZATION AND ECONOMIC GROWTH RELATIONSHIP: AN EXAMINATION ON OECD COUNTRIES
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Tarih
2019
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Özet
This research tends to present fresh empirical evidence on the energy consumption-urbanization-growth nexus in thecase of 34 OECD countries in the period 1996-2015 by applying Panel VAR analysis. Bivariate Panel VAR models suggest atwo directional positive response of energy consumption (EC) to GDP (real GDP per capita). Moreover, EC is found toresponse positively to the UR (urban total population). The trivariate VAR model shows a significant positive impact oflagged GDP on the energy consumption. Additionally, lagged energy consumption is found to have a negative impact onurbanization. Urbanization is found to have a positive impact of the consumption of energy as well as on the economicgrowth. IRFs suggest a positive increasing short-term response of urbanization to the consumption of energy. The response ofurbanization to the economic growth is positive and increases exponentially in the short-run. However, the response ofurbanization to the energy consumption is positive but decreases significantly in the long-run. GDP is found to have apositive response to energy consumption but this response is decreasing in the observed period. The results of this papersuggest the great awareness of the urban citizens in OECD countries on their role in contributing to sustainable developmentby promoting sustainable energy. Hence, the policy makers need to do necessary changes to promote the renewable energy inurban areas in order to reduce CO2 emissions caused by energy based on fossil fuels.
Açıklama
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İktisat
Kaynak
Dicle Üniversitesi Sosyal Bilimler Enstitüsü Dergisi
WoS Q Değeri
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Cilt
11
Sayı
22
