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Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries

Year 2024, Volume: 2024 Issue: 1, 32 - 48, 30.04.2024
https://doi.org/10.56337/sbm.1435866

Abstract

Africa consists of countries that are primarily dependent on fossil fuels for energy but have significant potential in many types of renewable energy. Therefore, the study investigates the factors affecting the use of renewable energy in 15 African countries in the context of panel data analysis over the period of 1980-2018. Cointegration analysis of variables is carried out using Kao, Pedroni, and Westerlund techniques, and Driscoll-Kraay and FGLS estimation methods examine long-term coefficients. The findings point out a cointegration between the variables. While economic growth, FDI, and trade openness support renewable energy use, financial development and natural resources hinder it. The findings also indicate a two-way causality between all independent variables and renewable energy use. The study will be able to put forward some policy suggestions that can improve the renewable energy sector in African countries.

References

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Afrika Ülkelerinde Yenilenebilir Enerji Tüketiminin Belirleyicileri Üzerine Panel Veri Analizi

Year 2024, Volume: 2024 Issue: 1, 32 - 48, 30.04.2024
https://doi.org/10.56337/sbm.1435866

Abstract

Afrika, enerji açısından büyük ölçüde fosil yakıtlara bağımlı olan ancak birçok yenilenebilir enerji türünde önemli potansiyele sahip ülkelerden oluşmaktadır. Bu nedenle çalışmada Afrika ülkelerinde yenilenebilir enerji kullanımını etkileyen faktörler panel veri analizi bağlamında araştırılmaktadır. Değişkenlerin eşbütünleşme analizi Kao, Pedroni ve Westerlund teknikleri ile yapılmakta olup, uzun dönem katsayıları Driscoll-Kraay ve FGLS tahmin yöntemleri ile incelenmektedir. Bulgular değişkenler arasında eşbütünleşme olduğuna işaret etmektedir. Ekonomik büyüme, doğrudan yabancı yatırım ve ticari açıklık yenilenebilir enerji kullanımını desteklerken, finansal gelişme ve doğal kaynaklar bunu engellemektedir. Bulgular ayrıca tüm bağımsız değişkenler ile yenilenebilir enerji kullanımı arasında iki yönlü bir nedenselliğe işaret etmektedir. Çalışma Afrika ülkelerinde yenilenebilir enerji sektörünü geliştirebilecek bazı politika önerileri ortaya koyabilecektir.

References

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  • Akdeniz, A., Kumral, N., Akseki, U., & Gök, B. (2024). Intersectoral interdependence of the Kyrgyz Republic’s economy. Journal of Economics Business and Political Researches, 9(23), 182-201. https://doi.org/10.25204/iktisad.1406034
  • Akpanke, T., Deka, A., Ozdeser, H., & Seraj, M. (2023). Does foreign direct investment promote renewable energy use? An insight from West African countries. Renewable Energy Focus, 44, 124-131. https://doi.org/10.1016/j.ref.2022.11.007
  • Alexiou, C. (2023). Gauging the impact of the strength of patent systems on renewable energy consumption. Renewable Energy, 210, 431-439. https://doi.org/10.1016/j.renene.2023.04.086
  • Alssadek, M., & Benhin, J. (2021). Oil boom, exchange rate, and sectoral output: An empirical analysis of Dutch disease in oil-rich countries. Resources Policy, 74, 102362. https://doi.org/10.1016/j.resourpol.2021.102362
  • Anton, S. G., & Nucu, A.E.A. (2020). The effect of financial development on renewable energy consumption. A panel data approach. Renewable Energy, 147 330-338. https://doi.org/10.1016/j.renene.2019.09.005
  • Apergis, N., & Payne, J. (2010). The emissions, energy consumption, and growth nexus: Evidence from the Commonwealth of Independent States. Energy Policy, 38, 650-655. https://doi.org/10.1016/j.enpol.2009.08.029
  • Bildirici, M. E. (2013). Economic growth and biomass energy. Biomass and Bioenergy, 50, 19-24. https://doi.org/10.1016/j.biombioe.2012.09.055
  • Breusch, T. S., & Pagan, A.R. (1980). The lagrange multiplier test and its application to model specification in econometrics. Review of Economic Studies, 47, 239-253. https://doi.org/10.2307/2297111
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  • Chang, S. (2015). Effects of financial developments and income on energy consumption. International Review of Economics & Finance, 35, 28-44. https://doi.org/10.1016/j.iref.2014.08.011
  • Chau, K., Moslehpour, M., Tu, Y., Tai, N., Tien, N., & Huy. P. (2022). Exploring the impact of green energy and consumption on the sustainability of natural resources: Empirical evidence from G7 countries. Renewable Energy, 196, 1241-1249. https://doi.org/10.1016/j.renene.2022.07.085
  • Chau, K.Y., Sadiq, M., & Chien, F.S. (2023). The role of natural resources and eco-financing in producing renewable energy and carbon neutrality: Evidence from ten Asian countries. Resources Policy, 85, 103846. https://doi.org/10.1016/j.resourpol.2023.103846
  • Chen, C., Pinar, M., & Stengos, T. (2021). Determinants of renewable energy consumption: Importance of democratic institutions. Renewable Energy, 179, 75-83. https://doi.org/10.1016/j.renene.2021.07.030
  • Chen, Y., Mamon, R., Spagnolo, F., & Spagnolo, N. (2022). Renewable energy and economic growth: A Markov-switching approach. Energy Resources, 244, 123089. https://doi.org/10.1016/j.energy.2021.123089
  • Coban, S., & Topcu, M. (2013). The nexus between financial development and energy consumption in the EU: A dynamic panel data analysis. Energy Economics, 39, 81-88. https://doi.org/10.1016/j.eneco.2013.04.001
  • Cole, M. A. (2006). Does trade liberalization increase national energy use? Economics Letters, 92, 108-112. https://doi.org/10.1016/j.econlet.2006.01.018.
  • Destek, M. A. (2018). Financial development and energy consumption nexus in emerging economies. Energy Sources Part B Economic Planning Policy, 13, 76-81. https://doi.org/10.1080/15567249.2017.1405106
  • Dingru, L., Onifade, S.T., Ramzan, M., & Al-Faryan, M.A.S. (2023). Environmental perspectives on the impacts of trade and natural resources on renewable energy utilization in Sub-Saharan Africa: Accounting for FDI, income, and urbanization trends. Resources Policy, 80, 103204. https://doi.org/10.1016/j.resourpol.2022.103204
  • Dogan, E., & Seker, F. (2016) Determinants of CO2 emissions in the European Union: The role of renewable and non-renewable energy. Renewable Energy, 94, 429-439. https://doi.org/10.1016/j.renene.2016.03.078
  • Driscoll, J., & Kraay, A.C. (1998). Consistent covariance matrix estimation with spatially dependent data. Review of Economics and Statistics, 80, 549-560. https://www.jstor.org/stable/2646837
  • Dumitrescu, E. I., & Hurlin, C. (2012). Testing for Granger non-causality in heterogeneous panels. Economic Modelling, 29, 1450-1460. https://doi.org/10.1016/j.econmod.2012.02.014
  • Han, Z., Zakari, A., Youn, I., & Tawiah, V. (2023). The impact of natural resources on renewable energy consumption. Resources Policy, 83, 103692. https://doi.org/10.1016/j.resourpol.2023.103692
  • Hassan, M., Kouzez, M., Lee, J. Y., Msolli, B., & Rjiba, H. (2024). Does increasing environmental policy stringency enhance renewable energy consumption in OECD countries? Energy Economics, 129, 107198. https://doi.org/10.1016/j.eneco.2023.107198
  • Hoa, P. X., Xuan, V. N., & Thu, N.T.P. (2023). Determinants of the renewable energy consumption: The case of Asian countries. Heliyon, 9(12), e22696. https://doi.org/10.1016/j.heliyon.2023.e22696
  • Houssain, M. D. S. (2011). Panel estimation for CO2 emissions, energy consumption, economic growth, trade openness and urbanization of newly industrialized countries. Energy Policy, 39, 6991-6999. https://doi.org/10.1016/j.enpol.2011.07.042
  • Iqbal, S., Wang, Y., Ali, S., Amin, N., & Kausaret, S. (2023). Asymmetric determinants of renewable energy production in Pakistan: Do economic development, environmental technology, and financial development matter? Journal of the Knowledge Economy, https://doi.org/10.1007/s13132-023-01309-6
  • Islam, M.M., Irfan, M., Shahbaz, M., & Vo, X.V. (2022). Renewable and non-renewable energy consumption in Bangladesh: The relative influencing profiles of economic factors, urbanization, physical infrastructure and institutional quality. Renewable Energy, 184, 1130-1149. https://doi.org/10.1016/j.renene.2021.12.020
  • Jaiswal, K.K., Chowdhury, C.R., Yadav, D., Verma, R., Dutta, S., Jaiswal, K.S., Sangmesh, B., & Karuppasamy, K.S.K. (2022). Renewable and sustainable clean energy development and impact on social, economic, and environmental health. Energy Nexus, 7, 100118. https://doi.org/10.1016/j.nexus.2022.100118
  • Kao, C. (1999). Spurious regression and residual-based tests for co-integration in panel data. Journal of Econometrics, 90(1), 1-44. https://doi.org/10.1016/S0304-4076(98)00023-2.
  • Khan, A., Hussain, J., Bano, S., & Chenggang, Y. (2020). The repercussions of foreign direct investment, renewable energy and health expenditure on environmental decay? An econometric analysis of BRI countries. Journal of Environmental Planning and Management, 63(11), 1965-1986. https://doi.org/10.1080/09640568.2019.1692796
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There are 69 citations in total.

Details

Primary Language English
Subjects Macroeconomic Theory, Development Economics - Macro, International Finance, Sustainable Development
Journal Section 2024(1) Papers
Authors

İbrahim Abdiwahab Adem This is me 0000-0002-2018-0948

Murat Çetin 0000-0002-7886-4162

Early Pub Date April 30, 2024
Publication Date April 30, 2024
Submission Date February 12, 2024
Acceptance Date April 15, 2024
Published in Issue Year 2024 Volume: 2024 Issue: 1

Cite

APA Adem, İ. A., & Çetin, M. (2024). Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries. Sosyal Bilimler Metinleri, 2024(1), 32-48. https://doi.org/10.56337/sbm.1435866
AMA Adem İA, Çetin M. Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries. Sosyal Bilimler Metinleri. April 2024;2024(1):32-48. doi:10.56337/sbm.1435866
Chicago Adem, İbrahim Abdiwahab, and Murat Çetin. “Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries”. Sosyal Bilimler Metinleri 2024, no. 1 (April 2024): 32-48. https://doi.org/10.56337/sbm.1435866.
EndNote Adem İA, Çetin M (April 1, 2024) Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries. Sosyal Bilimler Metinleri 2024 1 32–48.
IEEE İ. A. Adem and M. Çetin, “Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries”, Sosyal Bilimler Metinleri, vol. 2024, no. 1, pp. 32–48, 2024, doi: 10.56337/sbm.1435866.
ISNAD Adem, İbrahim Abdiwahab - Çetin, Murat. “Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries”. Sosyal Bilimler Metinleri 2024/1 (April 2024), 32-48. https://doi.org/10.56337/sbm.1435866.
JAMA Adem İA, Çetin M. Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries. Sosyal Bilimler Metinleri. 2024;2024:32–48.
MLA Adem, İbrahim Abdiwahab and Murat Çetin. “Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries”. Sosyal Bilimler Metinleri, vol. 2024, no. 1, 2024, pp. 32-48, doi:10.56337/sbm.1435866.
Vancouver Adem İA, Çetin M. Panel Data Analysis on the Determinants of Renewable Energy Consumption in African Countries. Sosyal Bilimler Metinleri. 2024;2024(1):32-48.