Financial Development, Renewable Energy Consumption and Industrial Output Relation: Testing Fourier ARDL for Turkey
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Tarih
2024
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Sciendo
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
Energy plays a vital role in every aspect of the economy and in recent years renewable energy is highly debated for its pros and cons. While renewable energy consumption is important for sustainable growth and reduction of environmental damage it has some negative effects on the industrial production. The aim of the study is to examine the relationship between renewable energy consumption, financial development and industrial output for Turkey. Annual data between 1980 and 2019 were used in the study. Fractional Fourier Augmented Dickey-Fuller Unit Root Test and the Fourier Autoregressive Distributed Lag Bound Tests were used to analyze the relationship between variables. As a result of the study, a positive relationship was found between financial development and renewable energy consumption, while a negative relationship was found between industrial output and renewable energy consumption. Our empirical findings have important policy implications. According to these policy implications, the focus should be on a green-based economy with various subsidies, selective taxation procedures and incentive policies to increase the demand for renewable energy use.
Açıklama
Anahtar Kelimeler
Fourier ARDL, Financial Development, Renewable Energy Consumption, Industrial Output
Kaynak
Studies in Business and Economics
WoS Q Değeri
N/A
Scopus Q Değeri
Q3
Cilt
19
Sayı
1
