The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries
The aim of this study is to examine the effect of both renewable and fossil fuel energy consumption on total factor productivity in G20 countries by using fixed effects with Driscoll and Kraay standard errors approach. Analysis results suggest that renewable energy consumption has a positive impact...
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| Format: | Article |
| Language: | English |
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Ekonomi ve Finansal Araştırmalar Derneği
2021-12-01
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| Series: | Ekonomi, Politika & Finans Araştırmaları Dergisi |
| Subjects: | |
| Online Access: | https://dergipark.org.tr/tr/download/article-file/2070972 |
| _version_ | 1797289520336470016 |
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| author | Buket Altınöz |
| author_facet | Buket Altınöz |
| author_sort | Buket Altınöz |
| collection | DOAJ |
| description | The aim of this study is to examine the effect of both renewable and fossil fuel energy consumption on total factor productivity in G20 countries by using fixed effects with Driscoll and Kraay standard errors approach. Analysis results suggest that renewable energy consumption has a positive impact on total factor productivity in the long run. Accordingly, an increase in renewable energy consumption increases the total factor productivity by about 0.007 percent in the long run. Although the coefficient of fossil fuel energy consumption is positive, it is statistically insignificant. In this study, labor force and capital are included in model as control variables. While capital formation increases total factor productivity in the long run, total labor force decreases it. The results highlight the necessity of including renewable energy consumption and capital accumulation in possible policies to increase total factor productivity. Moreover, revising energy consumption policies to encourage renewable sources may be one of the priorities of policymakers to increase the positive impact of renewable energy consumption. |
| first_indexed | 2024-03-07T19:06:10Z |
| format | Article |
| id | doaj.art-3ebe4dcc5a0e4e749d8b45abe8a7db05 |
| institution | Directory Open Access Journal |
| issn | 2587-151X |
| language | English |
| last_indexed | 2024-03-07T19:06:10Z |
| publishDate | 2021-12-01 |
| publisher | Ekonomi ve Finansal Araştırmalar Derneği |
| record_format | Article |
| series | Ekonomi, Politika & Finans Araştırmaları Dergisi |
| spelling | doaj.art-3ebe4dcc5a0e4e749d8b45abe8a7db052024-03-01T08:32:48ZengEkonomi ve Finansal Araştırmalar DerneğiEkonomi, Politika & Finans Araştırmaları Dergisi2587-151X2021-12-016IERFM Özel Sayısı546410.30784/epfad.1020967957The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 CountriesBuket Altınöz0NİŞANTAŞI ÜNİVERSİTESİ, NİŞANTAŞI MESLEK YÜKSEKOKULUThe aim of this study is to examine the effect of both renewable and fossil fuel energy consumption on total factor productivity in G20 countries by using fixed effects with Driscoll and Kraay standard errors approach. Analysis results suggest that renewable energy consumption has a positive impact on total factor productivity in the long run. Accordingly, an increase in renewable energy consumption increases the total factor productivity by about 0.007 percent in the long run. Although the coefficient of fossil fuel energy consumption is positive, it is statistically insignificant. In this study, labor force and capital are included in model as control variables. While capital formation increases total factor productivity in the long run, total labor force decreases it. The results highlight the necessity of including renewable energy consumption and capital accumulation in possible policies to increase total factor productivity. Moreover, revising energy consumption policies to encourage renewable sources may be one of the priorities of policymakers to increase the positive impact of renewable energy consumption.https://dergipark.org.tr/tr/download/article-file/2070972total factor productivityenergypanel datacointegrationtoplam faktör verimliliğienerjipanel verieşbütünleşme |
| spellingShingle | Buket Altınöz The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries Ekonomi, Politika & Finans Araştırmaları Dergisi total factor productivity energy panel data cointegration toplam faktör verimliliği enerji panel veri eşbütünleşme |
| title | The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries |
| title_full | The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries |
| title_fullStr | The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries |
| title_full_unstemmed | The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries |
| title_short | The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries |
| title_sort | effect of renewable and fossil fuel energy consumption on total factor productivity in g20 countries |
| topic | total factor productivity energy panel data cointegration toplam faktör verimliliği enerji panel veri eşbütünleşme |
| url | https://dergipark.org.tr/tr/download/article-file/2070972 |
| work_keys_str_mv | AT buketaltınoz theeffectofrenewableandfossilfuelenergyconsumptionontotalfactorproductivitying20countries AT buketaltınoz effectofrenewableandfossilfuelenergyconsumptionontotalfactorproductivitying20countries |