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Renewable energy consumption and economic growth in nine OECD countries: bounds test approach and causality analysis.

https://arctichealth.org/en/permalink/ahliterature257976
Source
ScientificWorldJournal. 2014;2014:919167
Publication Type
Article
Date
2014
Author
Lin Hung-Pin
Author Affiliation
Department of International Business & Trade, Shu-Te University, No. 59, Hun Shan Road, Yen Chau, Kaohsiung 82445, Taiwan.
Source
ScientificWorldJournal. 2014;2014:919167
Date
2014
Language
English
Publication Type
Article
Keywords
Causality
Conservation of Energy Resources - economics - trends
Denmark
Economic Development - trends
France
Germany
Great Britain
Humans
Italy
Japan
Portugal
Renewable Energy - economics
Spain
United States
Abstract
The purpose of this paper is to investigate the short-run and long-run causality between renewable energy (RE) consumption and economic growth (EG) in nine OECD countries from the period between 1982 and 2011. To examine the linkage, this paper uses the autoregressive distributed lag (ARDL) bounds testing approach of cointegration test and vector error-correction models to test the causal relationship between variables. The co-integration and causal relationships are found in five countries-United States of America (USA), Japan, Germany, Italy, and United Kingdom (UK). The overall results indicate that (1) a short-run unidirectional causality runs from EG to RE in Italy and UK; (2) long-run unidirectional causalities run from RE to EG for Germany, Italy, and UK; (3) a long-run unidirectional causality runs from EG to RE in USA, and Japan; (4) both long-run and strong unidirectional causalities run from RE to EG for Germany and UK; and (5) Finally, both long-run and strong unidirectional causalities run from EG to RE in only USA. Further evidence reveals that policies for renewable energy conservation may have no impact on economic growth in France, Denmark, Portugal, and Spain.
PubMed ID
24558343 View in PubMed
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