Relationship between Renewable Energy and Economic Growth in Developed Countries

Authors

  • Aktolkin Abubakirova Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan
  • Gaukhar Saimagambetova Caspian University of Technology and Engineering, Aktau, Kazakhstan
  • Aizhan Omarova Yessenov University, Aktau, Kazakhstan
  • Bibigul Saubetova Yessenov University, Aktau, Kazakhstan
  • Zhanargul Taskinbaikyzy Yessenov University, Aktau, Kazakhstan

DOI:

https://doi.org/10.32479/ijeep.17456

Keywords:

Renewable Energy, Economic Growth, G7 Countries, Panel Data Analysis

Abstract

In this study, the relationship between renewable energy and economic growth in G7 countries for the period 2000-2023 was investigated with Kao and Johansen Fisher panel cointegration tests and the direction of the relationship was determined with the FMOLS and DOLS test results. The empirical findings obtained show that there is a positive relationship between renewable energy production and economic growth. According to the results of the FMOLS method application, a 1% change in renewable energy production in G7 countries will cause approximately 0.70% change in economic growth in the long term. As a result of the DOLS method application, this coefficient was estimated as 0.66.

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Published

2024-12-22

How to Cite

Abubakirova, A., Saimagambetova, G., Omarova, A., Saubetova, B., & Taskinbaikyzy, Z. (2024). Relationship between Renewable Energy and Economic Growth in Developed Countries. International Journal of Energy Economics and Policy, 15(1), 233–238. https://doi.org/10.32479/ijeep.17456

Issue

Vol. 15 No. 1 (2025)

Section

Articles

License

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