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Renewable Energy Consumption, Political And Institutional Factors: Evidence From A Group Of European, Asian And Latin American Countries

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  • NICHOLAS APERGIS

    (Department of Banking and Financial Management, University of Piraeus, 80, Karaoli & Dimitriou, 18534 Piraeus, Greece)

  • SOFIA ELEFTHERIOU

    (Department of Business Administration, University of Piraeus, 80, Karaoli & Dimitriou, 18534 Piraeus, Greece)

Abstract

This paper explores the dynamic relationships between renewable energy consumption and a number of institutional and political factors for a group of countries from Europe, Asia and Latin America spanning the period 1995–2011. The paper employs the methodology of long and short-run panel causality approach as well as the methodology of the panel Error Correction model. The empirical findings provide strong evidence that, after controlling the economic environment, both political and institutional factors exert a strong and statistically significant effect on renewable energy consumption. These findings are expected to have serious implications for policies related to clean energy.

Suggested Citation

  • Nicholas Apergis & Sofia Eleftheriou, 2015. "Renewable Energy Consumption, Political And Institutional Factors: Evidence From A Group Of European, Asian And Latin American Countries," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 60(01), pages 1-19.
    • Handle: RePEc:wsi:serxxx:v:60:y:2015:i:01:n:s0217590815500083
    DOI: 10.1142/S0217590815500083
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    References listed on IDEAS

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    1. Hessami, Zohal, 2010. "Corruption and the Composition of Public Expenditures: Evidence from OECD Countries," MPRA Paper 25945, University Library of Munich, Germany.
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    Citations

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    Cited by:

    1. Bourcet, Clémence, 2020. "Empirical determinants of renewable energy deployment: A systematic literature review," Energy Economics, Elsevier, vol. 85(C).
    2. Borozan, Dj, 2022. "Asymmetric effects of policy uncertainty on renewable energy consumption in G7 countries," Renewable Energy, Elsevier, vol. 189(C), pages 412-420.
    3. Sweidan, Osama D., 2021. "Is the geopolitical risk an incentive or obstacle to renewable energy deployment? Evidence from a panel analysis," Renewable Energy, Elsevier, vol. 178(C), pages 377-384.
    4. Vural, Gulfer, 2021. "Analyzing the impacts of economic growth, pollution, technological innovation and trade on renewable energy production in selected Latin American countries," Renewable Energy, Elsevier, vol. 171(C), pages 210-216.
    5. Tuyet Thi Anh Nguyen & Shuo-Yan Chou, 2022. "Fusion of interval-valued neutrosophic sets and financial assessment for optimal renewable energy portfolios with uncertainties," Energy & Environment, , vol. 33(4), pages 783-808, June.
    6. Floros Flouros & Victoria Pistikou & Vasilios Plakandaras, 2022. "Geopolitical Risk as a Determinant of Renewable Energy Investments," Energies, MDPI, vol. 15(4), pages 1-21, February.

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    More about this item

    Keywords

    Renewable energy consumption; political and institutional factors; panel error correction; panel causality; Q40; K00; C33;
    All these keywords.

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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