Relationship between Renewable Energy and Economic Growth in Developed Countries

Aktolkin Abubakirova, Gaukhar Amangeldievna Saimagambetova, Aizhan Omarova, Bibigul Saubetova, Zhanargul Taskinbaikyzy

2024

Full text Open access: Gold Metadata (CSL-JSON)
DOI 10.32479/ijeep.17456
Data confidence 70 medium
How this score is calculated

It is built from checkable properties of the record itself: whether the article has a DOI, how many independent sources confirmed its data, whether the required fields are filled in, and how recent the latest confirmation is. Disagreement between sources and a missing identifier lower it. A value of 80 or above means the record was published without further checking; 60 to 79 means it is published at reduced confidence, with a manual check advisable. A record verified by an editor by hand is never pushed below 90 by a recalculation. This scores our data about the article, not the article itself.

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.