Output,renewable and non-renewable energy consumption and international trade: Evidence from a panel of 69 countries |
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| Affiliation: | 1. University of Tunis El Manar, FSEG de Tunis, Tunisia;2. Amen Bank, Kef Agency, Tunisia;3. Manouba University, ESC de Tunis, Campus Universitaire, Manouba 2010, Tunisia;1. School of Economics and Management, North China Electric Power University, Beijing 102206, China;2. School of Natural and Built Environments, University of South Australia, Adelaide 5001, Australia;1. Department of Food Engineering, URI – Campus de Erechim, Av. Sete de Setembro, 1621, Erechim, RS 99700-000, Brazil;2. Department of Chemical and Food Engineering, Federal University of Santa Catarina, Florianópolis, CEP 88800-000 Florianópolis, SC, Brazil;3. LASEFI/DEA/FEA (School of Food Engineering)/UNICAMP (University of Campinas), Rua Monteiro Lobato, 80, 13083-862 Campinas, SP, Brazil;4. Federal University of Fronteira Sul, Erechim, Av. Dom João Hoffmann, Erechim 99700-000, Brazil;5. Department of Chemical Engineering, Federal University of Santa Maria, Av. Roraima, 1000, Santa Maria, RS 97105-900, Brazil;1. School of Energy and Environment, Southeast University, Nanjing 210096, China;2. Ministry of Education of Key Laboratory of Energy Thermal Conversion and Control, Southeast University, Nanjing 210096, China;3. Jiangsu Provincial Key Laboratory of Solar Energy Science and Technology, Southeast University, Nanjing 210096, China;1. Division of Engineering, Saint Mary''s University, Halifax, NS, B3H 3C3, Canada;2. Department of Electrical Engineering, Royal Military College, Kingston, ON, K7K 7B4, Canada;3. Department of Electrical Engineering, University of Nevada, Reno, USA;1. School of Chemistry, Physics and Mechanical Engineering, Queensland University of Technology, Brisbane, 4001, Australia;2. Research Center of Fluid Machinery Engineering and Technology, Jiangsu University, Zhenjiang, Jiangsu Province, 212013, China |
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| Abstract: | This paper uses panel cointegration techniques to examine the causal relationship between output, renewable and non-renewable energy consumption, and international trade for a sample of 69 countries during the period 1980–2010. In the short-run, Granger causality tests show that there is a bidirectional causality between output and trade (exports or imports), a bidirectional causality between non-renewable energy and trade, and a one way causality running from renewable energy to trade. In the long-run, a bidirectional causality between renewable energy and trade, is noticed. Our long-run ordinary least squares (OLS), fully modified OLS (FMOLS) and dynamic OLS (DOLS) estimates suggest that renewable, non-renewable energy consumption and trade have a positive and statistically significant impact on economic growth. Our energy policy recommendations are the following: i) any non-renewable energy policy should take into account the importance of international trade, ii) more renewable energy use should be encouraged by national and international competent authorities in order to increase international economic exchanges and promote economic growth without harming the environment, and iii) increasing trade is a good vehicle for renewable energy technology transfer and contributes to increase renewable energy consumption in the long-run, thus contributing to reducing greenhouse gas emissions. |
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| Keywords: | Renewable and non-renewable electricity consumption Trade Panel cointegration C33 F14 Q43 |
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