Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter?

Examining the determinants of renewable energy deployment: Does the choice of indicator matter?

“…[16][17][18][19] The effect of various variables; especially, economic growth, prices, and pollution on RE is a widely studied issue in the literature. For example, financial development, [20][21][22][23][24][25] trade openness, 23,26,27 and globalization 28,29 are recently considered as determinants of RE deployment for small country groups and single countries. As clear from the literature review, only gross domestic product (GDP) (economic growth), oil price, and CO 2 (pollution) are available for a large country group.…”

“…In regard to different proxies (indicators), the share of RE production 11,18,30,31 levels of RE production, 32,33 the share of RE consumption, 22,34 and levels of RE consumption. 28,29,[35][36][37][38] More concretely, the relationship between RE deployment and income, emissions, and prices are investigated by many studies in the related literature using different RE deployment indicators. First, there are studies reaching economic growth has a positive impact on the share of production as a proxy of RE deployment 14,31,39,40 and studies confirming that economic growth reduces it.…”

“…First, there are studies reaching economic growth has a positive impact on the share of production as a proxy of RE deployment 14,31,39,40 and studies confirming that economic growth reduces it. 18,31 The positive effect of growth is determined by Brunnschweiler, 41 Pleiffer and Mulder 42 for the level of production and by Sadorsky, 16 Salim and Rafiq, 43 Lu, 36 and Nyiwul 37 for the level of per capita consumption, and Padhan et al, 28 Gozgor et al 29 for the level of consumption. Furthermore, Le et al 38 confirmed the U-shaped relationship between RE and national income.…”

“…Second, some studies suggest that pollution contributes to RE deployment indicators, which are share of production, 11,44 level of production, 13,32,45,46 and level of consumption. 10,12,28,29,36,38,43,47 However, it is also noteworthy that pollution has a negative impact especially on the share of production 17,31,39,48,49 and share of consumption. 22 Third, there is evidence that prices reduce the share of production 11,17,31,50 and the level of consumption, 12,16,37 but contribute to the level of production 13,15,41,45,46 and to the level of consumption.…”

“…22 Third, there is evidence that prices reduce the share of production 11,17,31,50 and the level of consumption, 12,16,37 but contribute to the level of production 13,15,41,45,46 and to the level of consumption. 28,29,38 Consequently, the findings of the relevant studies in terms of RE deployment are ambiguous. With respect to this notice, the novelty brought by this current study becomes clearer; such that, empirical results are dependent on the choice of RE deployment indicator and there is no clear definition of RE deployment.…”