The impact of financial development on renewable energy consumption: Evidence from Turkey

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dc.authorid0000-0002-9858-1266
dc.authorid0000-0002-8072-031X
dc.contributor.authorMukhtarov, Shahriyar
dc.contributor.authorYüksel, Serhat
dc.contributor.authorDinçer, Hasan
dc.date.accessioned2022-02-24T08:34:37Z
dc.date.available2022-02-24T08:34:37Z
dc.date.issued2022
dc.departmentİstanbul Medipol Üniversitesi, İşletme ve Yönetim Bilimleri Fakültesi, Uluslararası Ticaret ve Finansman Bölümü
dc.description.abstractGlobal warming creates significant problems for people, such as severe droughts. One of the biggest causes of global warming is the preference of fossil fuels in energy production. Therefore, renewable energy projects should be increased to overcome this problem. However, there is a need for a new study that considers different indicators at the same time to understand the key issues for improving renewable energy projects. This study aims to evaluate the influence of financial development, economic growth, and energy prices on energy use. Within this framework, the VECM and ARDL techniques were employed to the data spanning from 1980 to 2019 for Turkey. The findings demonstrate that financial development has a positive and statistically significant influence on renewable energy consumption. According to the findings, a 1% increase in financial development leads to a 0.21% rise in renewable energy consumption. The main novelty of this study is to provide appropriate strategies for Turkey to increase renewable energy investments that contribute to sustainable social and economic development. Additionally, the analysis results of this study pave the way for other energy-importing countries. Thus, with the help of increasing renewable energy projects, it can be much easier to handle the global warming problem.
dc.identifier.citationMukhtarov, S., Yüksel, S. ve Dinçer, H. (2022). The impact of financial development on renewable energy consumption: Evidence from Turkey. Renewable Energy, 187, 169-176. http://doi.org/10.1016/j.renene.2022.01.061
dc.identifier.doi10.1016/j.renene.2022.01.061
dc.identifier.endpage176
dc.identifier.issn0960-1481
dc.identifier.scopus2-s2.0-85123740087
dc.identifier.scopusqualityQ1
dc.identifier.startpage169
dc.identifier.urihttp://doi.org/10.1016/j.renene.2022.01.061
dc.identifier.urihttps://hdl.handle.net/20.500.12511/8992
dc.identifier.volume187
dc.identifier.wos000779964300002en_US
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.institutionauthorYüksel, Serhat
dc.institutionauthorDinçer, Hasan
dc.language.isoen
dc.publisherElsevier Ltd
dc.relation.ispartofRenewable Energyen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/embargoedAccess
dc.subjectARDL
dc.subjectFinancial Development
dc.subjectRenewable Energy Investments
dc.subjectVECM
dc.titleThe impact of financial development on renewable energy consumption: Evidence from Turkey
dc.typeArticle

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