The Relationship between the Share of Renewable Energy in Total Energy Consumption and Economic Growth: Kazakhstan and Turkiye Comparision

Authors

  • Saken Ualikhanovich Abdibekov Al-Farabi Kazakh National University, Almaty, Kazakhstan
  • Bauyrzhan Susaruly Kulbay Mukhtar Auezov South Kazakhstan University, Shymkent, Kazakhstan
  • Yelena Evgenevna Gridneva EI «Caspian University», Almaty, Kazakhstan
  • Gulnar Shaimardanovna Kaliakparova EI «Caspian University», Almaty, Kazakhstan
  • Tolendi Aripbaevich Ashimbayev Almaty Humanitarian-Economic University, Almaty, Kazakhstan
  • Gulmira Amangeldiyevna Perneyeva Al-Farabi Kazakh National University, Almaty, Kazakhstan

DOI:

https://doi.org/10.32479/ijeep.14567

Keywords:

Kazakhstan, Turkiye, Renewable Energy Resources, Economic Growth, VAR

Abstract

This study examines the relationship between the share of renewable energy sources in total energy consumption and economic growth by comparing the data of Kazakhstan and Turkiye using the annual data for the 1991-2019 period. We collected the data from the World Bank website (https://data.worldbank.org/indicator/). Impulse - Response Analysis and Variance Decomposition Analysis were applied to the data using the Vector Autoregressive (VAR) model. Research findings showed that although there is a relationship between renewable energy consumption and economic growth for Kazakhstan, this is not valid for Turkiye. The causality of this relationship, which is valid for Kazakhstan, is determined by the Granger causality analysis. According to the analysis, renewable energy consumption affects Kazakhstan's economic growth, but this effect does not translate into a causal relationship. Again, for both countries, we see that the impact of renewable energy shocks on economic growth remained limited and faded in a few periods. Another important finding is that the share of renewable energy consumption in the economic growth variance decomposition is higher for Kazakhstan.

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Published

2023-09-16

How to Cite

Abdibekov, S. U., Kulbay, B. S., Gridneva, Y. E., Kaliakparova, G. S., Ashimbayev, T. A., & Perneyeva, G. A. (2023). The Relationship between the Share of Renewable Energy in Total Energy Consumption and Economic Growth: Kazakhstan and Turkiye Comparision. International Journal of Energy Economics and Policy, 13(5), 24–30. https://doi.org/10.32479/ijeep.14567

Issue

Vol. 13 No. 5 (2023)

Section

Articles

License

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