A Reexamination Of Causal Nexus Between Economic Growth And Renewable Enegy Consumption For Us: Further Evidence From Bootstrap-Corrected Causality Test

Şenay , Saraç (2012) A Reexamination Of Causal Nexus Between Economic Growth And Renewable Enegy Consumption For Us: Further Evidence From Bootstrap-Corrected Causality Test. In: 3rd International Symposium on Sustainable Development, May 31 - June 01 2012, Sarajevo.

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Abstract

Recent debates about renewable energy consumption manifest two main expectations. Firstly, renewable energy consumption should contribute to economic growth and secondly, it should not cause a damage on environment. This study focuses on the first issue by applying bootstrap-corrected causality test for the US since empirical literature criticizes the Toda- Yamamoto test which bases on asymptotic distribution. The models consist of real GDP, employment, investment and kinds of renewable energy consumption. Only one causal relationship was found from biomass-waste-drived energy consumption to real GDP. No causal relationship was found between real GDP and all of the other renewable energy kinds – total renewable energy consumption, geothermal energy consumption, hydro-electric energy consumption, biomass energy consumption and biomass-wood-drived energy consumption. That is using of energy from waste cause not only solving the dumping problems but also it contributes to real GDP. For policy purpose, the results of this study suggest that countries should concentrate on energy producing from waste as an alternative energy resource. Keywords: Sustainable development, Economic growth, Renewable energy consumption, US. JEL: O13, Q42, O51

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Divisions: Faculty of Economics > Management Department
Depositing User: Users 173 not found.
Date Deposited: 01 Nov 2012 13:54
Last Modified: 01 Nov 2012 13:54
URI: http://eprints.ibu.edu.ba/id/eprint/1307

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