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Financing Renewable Energy Projects: An Empirical Analysis for Turkey

Author

Listed:
  • B nyamin Er

    (Faculty of Business and Economics, Karadeniz Technical University, Turkey.)

  • Yusuf Guneysu

    (Faculty of Business and Economics, Karadeniz Technical University, Turkey.)

  • H seyin nal

    (Faculty of Business and Economics, Karadeniz Technical University, Turkey.)

Abstract

The main purpose of this study is to estimate the impact of foreign direct investment (FDI) inflows and stock market capitalization (SMC) on the renewable energy consumption (REC). In addition, the study aims to ivestigate the impact of financial development (FD) and research-development expenditures (R&D) on the renewable energy consumption. The study utilizes annual data from 1990 to2015 inTurkey using the autoregressive distributed lag (ARDL) approach. The findings show that, based on the ARDL estimates, there exist long-run equilibrium relationships among the variables. The results of this study also indicate that the renewable energy consumption is mainly determined by FDI inflows, financial development and research-development expenditures in the long run.

Suggested Citation

  • B nyamin Er & Yusuf Guneysu & H seyin nal, 2018. "Financing Renewable Energy Projects: An Empirical Analysis for Turkey," International Journal of Energy Economics and Policy, Econjournals, vol. 8(6), pages 180-185.
    • Handle: RePEc:eco:journ2:2018-06-23
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    References listed on IDEAS

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    1. Nicholas Apergis & Dan Constantin Danuletiu, 2014. "Renewable Energy and Economic Growth: Evidence from the Sign of Panel Long-Run Causality," International Journal of Energy Economics and Policy, Econjournals, vol. 4(4), pages 578-587.
    2. Apergis, Nicholas & Payne, James E., 2010. "Renewable energy consumption and growth in Eurasia," Energy Economics, Elsevier, vol. 32(6), pages 1392-1397, November.
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    Cited by:

    1. Osman Murat Telatar & Tugce Adimli, 2024. "Impact of Foreign Direct Investment on Renewable Energy Consumption: Findings from Bootstrap ARDL with a Fourier Function," International Journal of Energy Economics and Policy, Econjournals, vol. 14(5), pages 301-310, September.
    2. Naomi Pandiangan & Sukono Sukono & Endang Soeryana Hasbullah, 2021. "Quadratic Investment Portfolio Based on Value-at-risk with Risk-Free Assets: For Stocks of the Mining and Energy Sector," International Journal of Energy Economics and Policy, Econjournals, vol. 11(4), pages 175-184.
    3. Zerrin Kilicarslan, 2019. "The Relationship between Foreign Direct Investment and Renewable Energy Production: Evidence from Brazil, Russia, India, China, South Africa and Turkey," International Journal of Energy Economics and Policy, Econjournals, vol. 9(4), pages 291-297.
    4. Muntasir Murshed & Mohamed Elheddad & Rizwan Ahmed & Mohga Bassim & Ei Thuzar Than, 2022. "Foreign Direct Investments, Renewable Electricity Output, and Ecological Footprints: Do Financial Globalization Facilitate Renewable Energy Transition and Environmental Welfare in Bangladesh?," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 29(1), pages 33-78, March.
    5. Tokhtar Bolyssov & Bauyrzhan Yessengeldin & Gulvira Akybayeva & Zamzagul Sultanova & Azamat Zhanseitov, 2019. "Features of the Use of Renewable Energy Sources in Agriculture," International Journal of Energy Economics and Policy, Econjournals, vol. 9(4), pages 363-368.
    6. Oluwatoyin J. Gbadeyan & Joseph Muthivhi & Linda Z. Linganiso & Nirmala Deenadayalu, 2024. "Decoupling Economic Growth from Carbon Emissions: A Transition toward Low-Carbon Energy Systems—A Critical Review," Clean Technol., MDPI, vol. 6(3), pages 1-38, August.
    7. Raghutla, Chandrashekar & Shahbaz, Muhammad & Chittedi, Krishna Reddy & Jiao, Zhilun, 2021. "Financing clean energy projects: New empirical evidence from major investment countries," Renewable Energy, Elsevier, vol. 169(C), pages 231-241.

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    More about this item

    Keywords

    Renewable Energy; Foreign Direct Investment; Stock Market Capitalization; ARDL Approach;
    All these keywords.

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources

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