The Vector Auto Regression Analysis of the Link between Renewable Energy Consumption and Economic Development for Turkey and Kazakhstan

Authors

  • Meiramkul Saiymova Zhubanov Aktobe Regional State University, Moldagulova ave., 34, 030000, Aktobe, Kazakhstan,
  • Marija Troyanskaya Orenburg state University, Victory ave. 13, 460018, Orenburg, Russian Federation;
  • Kulyash Shalgimbayeva Kazakh National Agrarian Research University, Abay ave. 8, 050000, Almaty, Kazakhstan;
  • Zhanat Babazhanova Kazakh National Academy of Choreography, Uly Dala ave. 9, Z05K7Y26, Astana, Kazakhstan;
  • Roza Jumabekova Yessenov University, 32-microdistrict, 130000, Aktau, Kazakhstan.

DOI:

https://doi.org/10.32479/ijeep.13998

Keywords:

renewable energy consumption, economic growth, VAR, Turkey, Kazakhstan

Abstract

The relationship between economic growth and renewable energy (RE) consumption has received enormous attention in the literature. However, there are diverse views about the Granger causality and nature of this relationship. The purpose of this empirical study is to investigate how RE consumption on electricity generation is affected by economic growth and electricity prices using data from 1990 to 2021 with the vector auto regression (VAR) approach. This is done by using case study countries (Turkey, and Kazakhstan), which have different levels of economic development, are located in diverse regions in the world, but with common effort of encouragement in term of policy implementations in RE use recently. Findings in this paper show RE consumption, for the period under consideration, is significantly determined by income and electricity price in the long run.

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Published

2023-03-24

How to Cite

Saiymova, M., Troyanskaya, M., Shalgimbayeva, K., Babazhanova, Z., & Jumabekova, R. (2023). The Vector Auto Regression Analysis of the Link between Renewable Energy Consumption and Economic Development for Turkey and Kazakhstan. International Journal of Energy Economics and Policy, 13(2), 309–315. https://doi.org/10.32479/ijeep.13998

Issue

Vol. 13 No. 2 (2023)

Section

Articles

License

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