Biomass energy consumption and economic growth nexus in OECD countries : a panel analysis

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Authors

Ajmi, Ahdi Noomen
Inglesi-Lotz, Roula

Journal Title

Journal ISSN

Volume Title

Publisher

Elsevier

Abstract

This paper investigates the relationship between biomass energy consumption and economic growth for 26 OECD countries for 1980 to 2013 period. This study used panel unit root analyses, panel cointegration analyses, dynamic OLS analyses, fully modified OLS analyses and panel VECM Granger causality to examine the relationship. The results reveal the presence of long-run equilibrium relationship between the variables supporting the feedback hypothesis. As policy implication, OECD countries have to improve the biomass energy infrastructure as an important source of renewable energy to promote economic growth.

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Keywords

Organisation for Economic Co-operation and Development (OECD), Biomass energy, Economic growth, Dynamic OLS, Fully modified OLS, Ordinary least squares (OLS)

Sustainable Development Goals

Citation

Ajmi, A.N. & Inglesi-Lotz, R. 2020, 'Biomass energy consumption and economic growth nexus in OECD countries : a panel analysis', Renewable Energy, vol. 162, pp. 1649-1654.