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Does Institutional Quality Affect Renewable Energy in Oil-Rich Developing Countries? Evidence from Azerbaijan

In: Circular Economy and the Energy Market

Author

Listed:
  • Shahriyar Mukhtarov

    (Baku Engineering University
    Vistula University
    Azerbaijan State University of Economics (UNEC))

  • Javid Aliyev

    (Islamic Finance and Economics, Hamad Bin Khalifa)

  • Shahin Maharramli

    (Azerbaijan Energy Regulatory Agency)

Abstract

This study investigates the effect of government effectiveness as a proxy of institutional quality, CO2 emissions, and economic growth on renewable energy consumption for Azerbaijan from 1996 to 2019, employing FMOLS method. Estimation results revealed that government effectiveness and CO2 emissions both have statistically insignificant effect on renewable energy consumption. In addition, we found that economic growth has a statistically significant and positive influence on renewable energy consumption. According to empirical results, some policy recommendations for promoting renewable energy consumption are presented in this study.

Suggested Citation

  • Shahriyar Mukhtarov & Javid Aliyev & Shahin Maharramli, 2022. "Does Institutional Quality Affect Renewable Energy in Oil-Rich Developing Countries? Evidence from Azerbaijan," Contributions to Economics, in: Hasan Dinçer & Serhat Yüksel (ed.), Circular Economy and the Energy Market, chapter 0, pages 173-184, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-13146-2_14
    DOI: 10.1007/978-3-031-13146-2_14
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