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Advisor(s)
Abstract(s)
This paper focuses on the relationship between economic activity, and renewable and non-renewable
energy consumption for the set of countries with the largest usage of each energy source. The dominance
of one type of energy source could raise an unintentional barrier to a strategy of energy mix
diversification. A panel of 28 countries was studied, using annual data for the time span 1995e2013. The
ARDL approach was used to capture the short- and long-run effects. The Driscoll-Kraay estimator was
used to attain robust results given the presence of the phenomena of heteroscedasticity, contemporaneous
correlation, first order autocorrelation and cross-sectional dependence. Results suggest that
renewable energy has not contributed to economic growth, while non-renewable energy has contributed.
This finding should be incorporated in the definition of energy strategies, specifically by making
renewable energy compatible with economic growth.
Description
Keywords
Renewable energy Non-renewable energy Strategy ARDL