Impacts of renewable energy consumption on the German economic growth: Evidence from combined cointegration test

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dc.authoridOzturk, Ilhan -- 0000-0002-6521-0901; Abdulrashid Rafindadi, Abdulkadir -- 0000-0002-7865-945X
dc.contributor.authorRafindadi, Abdulkadir Abdulrashid
dc.contributor.authorÖztürk, İlhan
dc.date.accessioned12.07.201910:50:10
dc.date.accessioned2019-07-12T15:27:52Z
dc.date.available12.07.201910:50:10
dc.date.available2019-07-12T15:27:52Z
dc.date.issued2017
dc.departmentMeslek Yüksekokuluen_US
dc.descriptionWOS: 000401395000090en_US
dc.description.abstractGermany is the largest economy in Europe and the leading renewable energy user comparable to none in the entire of the European continents. It is in reference to these developments that this study investigates whether the impacts of renewable energy have consolidated the economic growth prospects of the country. To ensure this, quarterly time series data from 1971Q1 to 2013QIV was used. The study employed the Clemente-Montanes-Reyes detrended structural break test, the Bayer-Hanck combined cointegration test and the ARDL bounds testing approach to cointegration. In addition, the causality analysis was observed using VECM Granger causality framework. The results confirmed the existence of cointegration among the variables. The results show that renewable energy consumption in Germany consolidates the country's economic growth prospects to the extend that a 1% increase in renewable energy consumption boosts German economic growth by 0.2194%. In addition to that, a 1% increase in capital lead to the rise in economic growth by 1.1320%. While a 0.5125% increase in economic growth is due to 1% increase in labor productivity. The causality analysis on the other hand, revealed the existence of feedback effect between renewable energy consumption and economic growth. While the relationship between renewable energy consumption and capital is found to be bidirectional and same inference was found to exist between capital and economic growth. The study proposes solid mechanisms that will help in averting renewable energy market failure locally and internationally among others.en_US
dc.identifier.doi10.1016/j.rser.2016.11.093
dc.identifier.endpage1141en_US
dc.identifier.issn1364-0321
dc.identifier.scopus2-s2.0-85006725506
dc.identifier.scopusqualityQ1
dc.identifier.startpage1130en_US
dc.identifier.urihttps://doi.org/10.1016/j.rser.2016.11.093
dc.identifier.urihttps://hdl.handle.net/20.500.12507/510
dc.identifier.volume75en_US
dc.identifier.wosWOS:000401395000090
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherPERGAMON-ELSEVIER SCIENCE LTDen_US
dc.relation.ispartofRenewable & Sustaınable Energy Revıews
dc.relation.publicationcategoryDiğeren_US
dc.rightsinfo:eu-repo/semantics/closeAccessen_US
dc.subjectEconomic Growthen_US
dc.subjectRenewable Energyen_US
dc.subjectCapitalen_US
dc.subjectBayer-Hancken_US
dc.subjectGreen Marketingen_US
dc.titleImpacts of renewable energy consumption on the German economic growth: Evidence from combined cointegration test
dc.typeReview Article

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