Analysis of the Relationship Between Energy Consumption and Economic Growth in the Commonwealth of Independent States

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Renewable energy, which is the type of energy that plays a major role in the development and growth of countries, plays an important role in today's world, considering that the life of depleted energy resources is finite. Compared to fossil energy sources, except that its source is infinite, a noticeable difference in carbon dioxide emission is seen as the reason for preferring renewable energy sources. Many studies in the literature investigate the relationship between the consumption of renewable energy resources and economic growth. This study was conducted on renewable energy production in 27 European Union member countries explores its impact on employment. In the study, panel ARDL test was conducted with the data for the years 2006-2019. According to the results of the study, renewable energy generation has a positive effect on employment in European Union countries in the long term. In the long run, a 1% increase in renewable energy primary production increases employment by 0.08%. Increasing the use of renewable energy resources should go beyond being a policy recommendation in international conventions. The fact that these resources provide employment in large areas can be a good alternative today with high unemployment rates.

Section: Panel Cross-section Dependence Testmentioning

confidence: 99%

The Relationship Between Renewable Energy Production and Employment in European Union Countries: Panel Data Analysis

Azretbergenova

Syzdykov²,

Niyazov³

et al. 2021

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“…Since the data set is a financial time series, the stationarity structures of the price series and logarithmic return series must first be determined. Since the probability of the occurrence of false relationships in the analyzes made with non-stationary time series will affect the reliability of the estimation results, the stationary condition must be met (Syzdykova et al, 2020). The graph of price series regarding the variables is shown in Figure 1.…”

Section: Resultsmentioning

confidence: 99%

Relationship Between Oil Prices and Stock Prices in Brics-T Countries: Symmetric and Asymmetric Causality Analysis

Abubakirova¹,

Syzdykova

Dosmakhanbet³

et al. 2021

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In this study, by considering the period between January 2010 and December 2019 of BRICS-T countries, the relationship between oil prices and stock prices was examined through the Hatemi-J asymmetric causality test (2012). The stationarity levels of the series were determined by augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests. Hatemi (2012) asymmetric causality test, which takes into account the presence of asymmetric information in financial markets by distinguishing positive and negative shocks, was used. Accordingly, hidden relationships that could not be detected using the symmetric causality test were revealed with the help of the asymmetric causality test.

“…In order to test the basic hypothesis, the Wald statistics for the overall panel are obtained by averaging the Wald Test statistics for the causality analysis of each unit. Furthermore, Dumitrescu and Hurlin (2012) propose the  Z N Hnc test statistic with asymptotic distribution when T>N, and the use of the test statistic ( ) , Z N with semi-asymptotic distribution when N>T (Syzdykova et al, 2020). , ,…”

Section: Dumitrescu-hurlin Panel Causality Testmentioning

confidence: 99%

Analysis of the Relationship Between Energy Price Changes and Stock Market Indices in Developed Countries

Nakhipbekova¹,

Baibosynova²,

Batyrova³

et al. 2020

Oil is an important energy source and basic raw material in the manufacturing process. Therefore, the economies of every country in the world are directly or indirectly dependent on oil. The chain effect of the addiction in question also affects the financial markets. In the study, long-term relationship between energy prices (oil, natural gas and electricity prices) and stock market index for developed countries was analyzed with Multiple Structural Break Panel Cointegration Test. The causality relationship between the variables was examined with Dumitrescu-Hurlin Panel Causality Test. According to the findings of the analysis, it was determined that the series move together in the long term. However, while there was causality between oil prices and natural gas prices in the short term, it was revealed that there was no causality between electricity prices and stock market indices.