Renewable and non-renewable energy consumption and economic growth in the US: A Markov-Switching VAR analysis

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dc.authorscopusid26653963900
dc.authorscopusid56127310200
dc.authorscopusid8873464300
dc.contributor.authorÇevik, Emrah İsmail
dc.contributor.authorYıldırım, Durmuş Çağrı
dc.contributor.authorDibooğlu, Sel
dc.date.accessioned2022-05-11T14:04:47Z
dc.date.available2022-05-11T14:04:47Z
dc.date.issued2021
dc.departmentFakülteler, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü
dc.description.abstractWe examine the relationship between renewable and non-renewable energy consumption and economic growth in the United States. While the regime-dependent Granger causality test results for the non-renewable energy consumption and economic growth suggest bi-directional causality in both regimes, we cannot validate any causality between renewable energy consumption and economic growth. The US meets its energy demand from non-renewable sources; as such, renewable energy consumption does not seem to affect economic growth. Given the efficiency and productivity of renewable energy investments, we conclude that it is worthwhile to consider renewable energy inputs to replace fossil fuels given potential benefits in terms of global warming and climate change concerns. In this regard, increasing the R&D investments in the renewable energy sectors, increases in productivity and profitability of renewable energy investments are likely to accrue benefits in the long run. © The Author(s) 2020.
dc.identifier.doi10.1177/0958305X20944035
dc.identifier.endpage541
dc.identifier.issn0958-305X
dc.identifier.issue3en_US
dc.identifier.scopus2-s2.0-85089396569
dc.identifier.scopusqualityQ2
dc.identifier.startpage519
dc.identifier.urihttps://doi.org/10.1177/0958305X20944035
dc.identifier.urihttps://hdl.handle.net/20.500.11776/4776
dc.identifier.volume32
dc.identifier.wosWOS:000559718700001
dc.identifier.wosqualityQ3
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorÇevik, Emrah İsmail
dc.institutionauthorYıldırım, Durmuş Çağrı
dc.language.isoen
dc.publisherSAGE Publications Inc.
dc.relation.ispartofEnergy and Environment
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.subjecteconomic growth
dc.subjectenergy consumption
dc.subjectMarkov-Switching VAR
dc.subjectRenewable energy
dc.subjectEconomics
dc.subjectEnergy utilization
dc.subjectFossil fuels
dc.subjectGlobal warming
dc.subjectInvestments
dc.subjectProductivity
dc.subjectGlobal warming and climate changes
dc.subjectGranger causality test
dc.subjectNon-renewable energy
dc.subjectPotential benefits
dc.subjectRenewable and non-renewable energy consumption
dc.subjectRenewable energy consumption
dc.subjectRenewable energy investments
dc.subjectRenewable energy sector
dc.subjectEconomic and social effects
dc.subjectalternative energy
dc.subjectconsumption behavior
dc.subjecteconomic growth
dc.subjectenergy market
dc.subjectenergy use
dc.subjectinvestment
dc.subjectMarkov chain
dc.subjectnonrenewable resource
dc.subjectUnited States
dc.titleRenewable and non-renewable energy consumption and economic growth in the US: A Markov-Switching VAR analysis
dc.typeArticle

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