An Investigation on The Impact of Renewable Energy on Economic Growth in Turkey
Chapter from the book: Şahin, A. (ed.) 2023. Academic Research and Evaluations in Social Sciences - V.

Elif Koçak
Gaziantep University

Synopsis

The use of energy resources is of great importance in order to achieve economic growth targets. However, while the use of non-renewable energy resources provides economic growth, it also causes environmental pollution and leads to the deterioration of ecological balance. Especially for developing countries, the aim is to achieve the highest output at the least cost in order to achieve economic growth targets. Therefore, it is known that fossil fuels are preferred due to their cost advantage. It is important to determine the effects of renewable energy sources on economic growth in order to encourage these countries to use renewable energy sources. With the understanding that environmental pollution is a global problem, environmental pollution has taken its place among the agenda topics of countries. For this reason, sustainable development goals have been set. However, there are also opinions that sustainable development goals may contradict each other. The aim of this study is to examine the possible harmony or conflict between SDG 7 and SDG 8, which are within the scope of sustainable development goals for Turkey, based on the observation range of 1990-2015. The variables included in the empirical model are gross domestic product per capita in dollars at constant 2015 prices, renewable energy consumption (percentage of total final energy consumption), fossil fuel energy consumption (percentage of total), gross fixed capital formation as a percentage of gross domestic product, labor force. participation rate is the percentage of the total population aged 15-64. The relationship between variables was investigated with the ARDL bounds test. The stationarity of the series was examined with the ADF unit root test. In line with the findings, it has been determined that the use of renewable energy contributes positively to economic growth. The targets were found to be compatible.

How to cite this book

Koçak, E. (2023). An Investigation on The Impact of Renewable Energy on Economic Growth in Turkey. In: Şahin, A. (ed.), Academic Research and Evaluations in Social Sciences - V. Özgür Publications. DOI: https://doi.org/10.58830/ozgur.pub401.c1754

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Published

December 30, 2023

DOI