Authors: Şükrü Apaydın; Ümit Koç
Addresses: Department of International Trade and Logistics, Faculty of Economics and Administrative Sciences, Nevsehir Haci Bektas Veli University, Nevsehir, Turkey ' Central Bank of The Republic of Turkey, Ankara, Turkey
Abstract: Energy is a crucial factor in both production and consumption processes. It is a critical component not only for economic growth but also for social, technological and environmental issues. With the events and facts in these areas, the importance of the energy has increased more and the research for alternative energy sources has accelerated in the last 50 years. Renewable energy sources have become more preferable by considering the goal of sustainable growth. In this context, wind energy production, which is almost the half of the total renewable energy production, has gained significant importance especially in the post-1990 period. The objective of this study is to assess the impact of wind energy production on economic growth with GMM method on a sample of 60 countries between the time period 1990 and 2017 (N = 60, T = 28). The findings suggest that wind energy positively affects economic growth, thus, supporting the growth hypothesis.
Keywords: renewable energy; wind energy generation; economic growth; dynamic panel data.
World Review of Science, Technology and Sustainable Development, 2022 Vol.18 No.3/4, pp.272 - 288
Received: 18 Jun 2020
Accepted: 06 Jan 2021
Published online: 04 Jul 2022 *